While the majority of Americans do not believe their personal economic situation has changed over the last year, they do think the overall American economy is in worse shape. 50% of voters believe their personal economic situation is about the same as it was a year ago, while 41% think the condition of the US economy has sunk.
Americans are not optimistic about the future—51% believe their economic situation will remain unchanged over the next five months. There are mixed feelings about the national economy, 33% see hope, 34% are pessimistic and 33% don’t think there will be change.
However, a closer look reveals that voters’ opinions about the economy are closely tied to their political ideologies. 53% of those who voted for President Obama believe the economy has improved, while 64% of those who voted for Senator John McCain believe the economy has become worse over the last year. This question seems to measure voter perceptions of the government’s handling of the economy, rather than the actual state of the economy.
Liberals are also more optimistic about the future of the economy. 62% of liberals believe the US economy will improve in comparison with a meager 12% of conservatives. Though, liberals and the public generally are more pessimistic about their personal finances, only 37% of liberals believe their economic situation will improve.
Voters are more likely to respond along ideological lines when asked about the state of the national economy. Americans’ feelings about their personal finances may shed more light on the actual state of the economy.
“For the average American the significance of the state of the national economy is abstract. But the state of their personal bank account is incredibly relevant,” said Dean Debnam, President of Public Policy Polling. “Voters’ perception of their personal finances are far more revealing.”
PPP surveyed 650 American voters from June 4th– 7th. The survey’s margin of error is +/-3.9%. Other factors, such as refusal to be interviewed and weighting, may introduce additional error that is more difficult to quantify.
If you would like an interview regarding this release, please contact Dean Debnam at (888) 621-6988 or 919-880-4888.
Topline results are below. Full results, including crosstabs, can be found here.
Q1 Do you approve or disapprove of the job
Democrats in Congress are doing?
Approve…………….. 35%
Disapprove………… 54%
Not Sure……………. 11%
Q2 you approve or disapprove of the job
Republicans in Congress are doing?
Approve…………….. 20%
Disapprove………… 62%
Not Sure……………. 17%
Q3 If the election for Congress was today would
you vote for a Democrat or a Republican?
Democrat ……………………………………………….. 43%
Republican……………………………………………… 41%
Undecided………………………………………………. 16%
Q4 Compared to a year ago is your personal
economic situation better, worse, or about the
same as it was?
Better …………………………………………………….. 16%
Worse ……………………………………………………. 34%
About the same……………………………………….. 50%
Q5 Compared to a year ago is your personal
economic situation better, worse, or about the
same as it was?
Better …………………………………………………….. 31%
Worse ……………………………………………………. 41%
About the same……………………………………….. 28%
Q6 Five months from now do you think your
personal economic situation will be better,
worse, or about the same as it is now?
Better …………………………………………………….. 25%
Worse ……………………………………………………. 23%
About the same……………………………………….. 51%
Q7 Five months from now do you think the overall
American economy will be better, worse, or
about the same as it is now?
Better …………………………………………………….. 34%
Worse ……………………………………………………. 33%
About the same……………………………………….. 33%
Q8 Who did you vote for President last year?
John McCain…………………………………………… 42%
Barack Obama………………………………………… 49%
Someone else/don’t remember ………………….. 8%
Q9 Would you describe yourself as a liberal,
moderate, or conservative?
Liberal ……………………………………………………. 18%
Moderate………………………………………………… 44%
Conservative…………………………………………… 38%
Q10 If you are a woman, press 1, if a man, press 2.
Woman ………………………………………………….. 49%
Man……………………………………………………….. 51%
Q11 If you are a Democrat, press 1. If you are a
Republican, press 2. If you are an independent
or identify with another party, press 3.
Democrat…………………………………………………… 43%
Republican…………………………………………………. 34%
Independent/Other…………………………………… 24%
Q12 If you are Hispanic, press 1. If white, press 2.
If African American, press 3. If other, press 4.
Hispanic…………………………………………………. 10%
White …………………………………………………….. 72%
African American …………………………………….. 12%
Other……………………………………………………… 6%
Q13 If you are 18 to 29 years old, press 1 now. If
you are 30 to 45, press 2. If you are 46 to 65,
press 3. If older, press 4.
18 to 29………………………………………………….. 10%
30 to 45………………………………………………….. 26%
46 to 65………………………………………………….. 45%
Older than 65………………………………………….. 19%
