Washington – The nation’s economy has encountered its share of bumps this year, and voters are uneasy. They’ve seen the value of their homes drop and surging prices for energy and other goods take a big cut out of their paychecks.
In the face of these uncertain economic times, they think Democrats can do a better job handling the economy, according to an Associated Press-Ipsos poll.
America’s voters care deeply about pocketbook issues. Eighty-eight percent of likely voters polled say the economy is an important issue – on par with the percentage of people who view the situation in Iraq and terrorism as crucial matters, according to the poll.
With the Nov. 7 elections looming, 59 percent of voters believe Democrats would do a better job handling the economy, while 39 percent prefer Republicans – the party that controls Congress and the White House.
“One of the more remarkable things about the economy and politics, the party in power is punished when the economy is bad, but not necessarily rewarded when economic conditions are good,” said Ross Baker, a political science professor at Rutgers University.
Never mind that gasoline prices have started dropping, that the value of Americans’ 401(k)s rises with each new Dow Jones industrial average record, and that the interest rates on their credit cards and adjustable mortgages have leveled off for now.
“Even though the economy is doing well by some indicators, voters are still nervous about the economy,” said Costas Panagopoulos, a political science professor at Fordham University. “They watched gas prices come down but watched them go up just as precipitously not too long ago. The stock market is doing well, but that doesn’t mean it can’t come crashing down in days. Voters are reluctant to be overly confident about economic trends.”
Over the past year, Americans have become less likely to see the economy as the most pressing problem in the United States.
Just 9 percent viewed economic matters as the top problem, the AP-Ipsos poll says. That’s down considerably from a year ago when 24 percent said the economy was the biggest problem as the country was still reeling from the blows of the Gulf Coast hurricanes.
