Fighting words: Economy talk amid a presidential election

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You think the debates were bad? Try talking politics and the economy with anyone this close to the election.

Here’s a quick way to start an argument a few days before the presidential election: Ask a group of people if they think the economy is getting better.

A Life Inc. post this week pointing to several data points showing that Americans are feeling more confident about the economy prompted heated, passionate arguments from both sides of the ideological fence.

To be clear, almost no one thinks the economy is completely healthy. But recent data has shown that many Americans are growing  a little less discouraged about their personal financial situation, and the economy in general.

Economists say that’s because the economic factors most people see in their everyday lives – the housing market and the jobs picture – are showing slow signs of improvement. But this close to an election, experts said many people also may be looking at the issue through the lens of their political preference.


That means things seem better if they like President Barack Obama, and look worse if they favor Mitt Romney winning on election day next Tuesday.

A little more than 53 percent of the nearly 20,000 people who took our poll said they thought their financial situation was better than a year ago. But about 28 percent said they thought things were worse, and that left about 18 percent who said things were about the same.

Those who feel worse off said they are still experiencing the painful effects of the Great Recession and weak recovery: Unemployment, underemployment and wage stagnation.

“The costs of everything have increased, but my income has not,” one reader wrote.

Many on that side blamed their current situation on President Barack Obama, who is locked in a tight race with Republican challenger Mitt Romney.

 “Only reason people would feel better is Romney wins the election and Obama is out!” one reader wrote.

But thousands of readers argued that they do feel like things are improving, for themselves and for the economy in general. Those readers said they were seeing people getting back to work, and that business was picking up.

“My son and daughter-in-law who were out of work last (year) have jobs. The Mall is busy again. It sure looks good from the way I see it,” one reader wrote.

Many on that side had kind words for Obama, and harsh ones for Romney.

“Things are better and have continued to improve. I'm concerned if Romney wins and rolls back Financial Reform and Health Care Act,” one reader wrote.

Related: Jobs data unlikely to sway undecided voters

People.com
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Discuss this post

A better question would be "are we better off than we were 3.5 years ago, when Obama took office?

You betcha'.

In March, 2009, many had lost about 40% of their savings. The Dow was at 6800 and predicted to fall to 3500. The U.S. was losing more than 700,000 jobs per month. The banking system was frozen - no lending.

Since then we are basically back to the pre-Recession level. The Dow is at 13000; the S&P is at 1400. Except for a brief blip in late 2010 we've had job growth each month since 2009. The bank system is no longer frozen (at least with good credit).

I think America as a whole is better off. We're just not yet back to our previous highs, before the greatest recession in 80 years. But the trend is good.

  • 1 vote
Reply#1 - Fri Nov 2, 2012 1:00 PM EDT

I think America is much worse off. Our incomes are falling. The banksters run the country now after their 2008 coup d'etat.

  • 1 vote
#1.1 - Fri Nov 2, 2012 1:59 PM EDT
Reply

The economy is what society at large is best at bee-essing about, but neither Obama nor potentially Romney show very much ability to control things in that regard.

  • 1 vote
Reply#2 - Fri Nov 2, 2012 1:13 PM EDT

They the GOP and TEA CREATED the near DEPRESSION 4 years ago. And By golly we are MUCH better off NOW.

What the HELL were the REPUBLICANS doing ALL THIS TIME. They were trying to SINK the TITANIC and ALL the CITIZENS.

How can ANY ONE with a SANE BRAIN believe these QUACKS by PUTTING THEM BACK IN OFFICE. You have to be MENTALLY DISTURBED to join in their FAILINGS !!!

    Reply#3 - Fri Nov 2, 2012 1:41 PM EDT

    Wow Alain you convinced me!

    • 1 vote
    #3.1 - Fri Nov 2, 2012 1:57 PM EDT
    Reply

    The only one who's winning in this election is Goldman Sacks.

    • 1 vote
    Reply#4 - Fri Nov 2, 2012 1:57 PM EDT

    We'll all be whistling happy tunes when Cap and Trade goes into effect. How about that Value Tax?

      Reply#5 - Sun Nov 4, 2012 5:27 AM EST
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