70% give Obama negative ratings on economic job
Only 30% give Obama positive rating on the economy and 42% feel less secure than a year ago. So much for trillions in stimulus.
Holiday shopping is over and the New Year’s Eve plans are made. It’s also the time of year when people look back and look forward and, this year many are probably thinking more of the economic year that was and the one that will be. President Obama is also probably thinking ahead to the economic future and his handling of the economy. At the end of his second year in office, just three in ten Americans (30%) give him positive ratings on the job he is doing on the economy while seven in ten (70%) give him negative ratings.
These are some of the results of The Harris Poll of 2,331 adults surveyed online between December 6 and 13, 2010 by Harris Interactive.
When asked to compare their financial situation to last year, two in five Americans (42%) feel less secure now while one-third (36%) feel just as secure and one in five (19%) say they now feel more secure. While this reflects the end of a troubling financial year, it also shows an improvement from what people felt last year at this time. One year ago, over half of Americans (56%) said they felt less secure about their financial situation when compared to the previous year.
Looking ahead, one-quarter of Americans (26%) say they expect the economy to get worse in the coming year while three in ten (29%) expect it to get better and 45% say it will stay the same. Last month, over one-third (34%) said they thought the economy would be getting better, 41% said it would stay the same and 25% believed it would get worse.
The job market
In looking at the job market, just over one in three Americans (13%) rate the job market in their region of the country as good while three in five (63%) rate it as bad and one-quarter (24%) say it is neither good nor bad. Looking ahead, one-quarter of U.S. adults (25%) say they expect the job market to be better over the next six months, one in five (22%) say it will be worse and over half (54%) believe it will remain the same.
2011 Financial Expectations
Looking to what people may be doing with regard to their finances in the coming year, half of Americans (49%) say they will cut back on their household spending. Two in five say they will pay down their level of debt (41%) and save more in the year ahead (40%). One in five U.S. adults say they will get rid of one or more credit cards (22%) and save more for retirement (22%) while 13% say they will undertake home improvements that increase the value of their home. Less than one in ten will invest in less risky investments (8%), refinance their mortgage (6%) or take out a home equity line of credit (2%). And, one in five Americans (18%) say they do not expect to do anything differently financially in 2011.
So What?
At the beginning of the year everyone always has the best intentions. Resolutions are made typically about health, diet and/or finances. But, as everyone knows, resolutions are also broken and if they last until the end of January, that’s a great thing. As the year goes on, it will be interesting to see if people are saving more, paying down their debt or cutting back on household spending.
TABLE 1
PRESIDENT OBAMA’S JOB RATING ON THE ECONOMY – TREND “Now, turning to something different, how would you rate the overall job that President Barack Obama is doing on the economy?” Base: All adults |
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2009 | |||||||||
March | April | May | June | Aug | Sept | Nov | Dec | ||
% | % | % | % | % | % | % | % | ||
POSITIVE (NET) | 47 | 49 | 46 | 43 | 39 | 40 | 34 | 36 | |
Excellent | 13 | 13 | 10 | 3 | 9 | 7 | 6 | 6 | |
Pretty good | 34 | 36 | 36 | 34 | 31 | 33 | 27 | 30 | |
NEGATIVE (NET) | 53 | 51 | 54 | 57 | 61 | 60 | 66 | 64 | |
Only fair | 30 | 27 | 30 | 27 | 25 | 27 | 30 | 30 | |
Poor | 23 | 24 | 24 | 30 | 36 | 33 | 37 | 34 | |
2010 | |||||||||||
Jan | March | April | May | June | Aug | Sept | Oct | Nov | Dec | ||
% | % | % | % | % | % | % | % | % | % | ||
POSITIVE (NET) | 31 | 32 | 33 | 36 | 32 | 32 | 29 | 27 | 31 | 30 | |
Excellent | 5 | 5 | 6 | 6 | 5 | 6 | 5 | 5 | 5 | 5 | |
Pretty good | 25 | 27 | 27 | 30 | 27 | 26 | 24 | 22 | 26 | 25 | |
NEGATIVE (NET) | 69 | 68 | 67 | 64 | 68 | 68 | 71 | 73 | 69 | 70 | |
Only fair | 31 | 30 | 31 | 29 | 32 | 29 | 31 | 33 | 30 | 34 | |
Poor | 39 | 37 | 36 | 34 | 37 | 39 | 40 | 39 | 39 | 36 | |
Note: Percentages may not add up exactly to 100% due to rounding. | |||||||||||
TABLE 2A
FINANCIAL SECURITY “Compared to last year, how secure do you feel about your financial situation?” Base: All adults |
|||||||||
Total | Political Affiliation | Generation | |||||||
Rep. | Dem. | Ind. | Echo
Boomers (18-33) |
Gen. X
(34-45) |
Baby
Boomers (46-64) |
Matures
(65+) |
|||
% | % | % | % | % | % | % | % | ||
MORE SECURE (NET) | 19 | 11 | 27 | 21 | 26 | 19 | 17 | 13 | |
Much more secure | 5 | 2 | 8 | 5 | 5 | 5 | 5 | 3 | |
Somewhat more secure | 14 | 10 | 19 | 16 | 21 | 14 | 11 | 10 | |
Same as last year | 36 | 35 | 39 | 34 | 36 | 36 | 38 | 32 | |
LESS SECURE (NET) | 42 | 52 | 31 | 45 | 33 | 42 | 44 | 55 | |
Somewhat less secure | 23 | 26 | 18 | 24 | 19 | 20 | 22 | 31 | |
Much less secure | 20 | 26 | 13 | 21 | 13 | 22 | 22 | 24 | |
Not sure | 2 | 2 | 2 | 1 | 6 | 2 | 1 | * | |
Note: Pe rcentages may not add up to exactly 100% due to rounding
Note: * indicates less than 0.5% |
|||||||||
TABLE 2B
FINANCIAL SECURITY – TREND “Compared to last year, how secure do you feel about your financial situation?” Base: All adults |
||||
2008 | 2009 | 2010 | ||
% | % | % | ||
MORE SECURE (NET) | 21 | 12 | 19 | |
Much more secure | 4 | 3 | 5 | |
Somewhat more secure | 17 | 9 | 14 | |
Same as last year | 34 | 30 | 36 | |
LESS SECURE (NET) | 38 | 56 | 42 | |
Somewhat less secure | 24 | 33 | 23 | |
Much less secure | 14 | 23 | 20 | |
Not sure | 7 | 3 | 2 | |
Note: Percentages may not add up to exactly 100% due to rounding | ||||
TABLE 3
2011 FINANCIAL EXPECTATIONS “Which of the following do you expect to do in 2011* in regards to your finances?” Base: All adults |
|||||||
2009 | 2010 | Generation | |||||
Echo
Boomers (18-33) |
Gen. X
(34-45) |
Baby
Boomers (46-64) |
Matures
(65+) |
||||
% | % | % | % | % | % | ||
Cut back on my household spending | 55 | 49 | 41 | 49 | 56 | 47 | |
Pay down my level of debt | 45 | 41 | 32 | 50 | 48 | 31 | |
Save more in the year ahead | 42 | 40 | 51 | 42 | 35 | 31 | |
Get rid of one or more credit cards | 24 | 22 | 13 | 23 | 29 | 24 | |
Save more for retirement | 21 | 22 | 18 | 26 | 29 | 10 | |
Undertake home improvements that increase the value of my home |
14 | 13 | 12 | 11 | 12 | 17 | |
Invest in less risky investments | 9 | 8 | 5 | 6 | 9 | 12 | |
Refinance my mortgage | 5 | 6 | 4 | 8 | 9 | 4 | |
Take out a home equity line of credit | 2 | 2 | 3 | 2 | 1 | 1 | |
Other | 6 | 6 | 9 | 6 | 4 | 4 | |
I don’t expect to do anything different financially in 2011* | 16 | 18 | 23 | 16 | 14 | 21 | |
Note: Multiple response question; In 2009 this question asked about financial activity for 2010 | |||||||
TABLE 4
EXPECTATIONS FOR THE ECONOMY IN THE COMING YEAR – TREND “In the coming year, do you expect the economy to…?” Base: All adults |
|||||||||||||
2009 | 2010 | ||||||||||||
April | May | Aug | Sept | Oct | May | June | Aug | Sept | Oct | Nov | Dec | ||
% | % | % | % | % | % | % | % | % | % | % | % | ||
Improve | 39 | 38 | 46 | 40 | 34 | 38 | 30 | 29 | 28 | 30 | 34 | 29 | |
Stay the same | 35 | 35 | 32 | 36 | 37 | 34 | 42 | 39 | 40 | 40 | 41 | 45 | |
Get worse | 26 | 27 | 22 | 24 | 29 | 28 | 28 | 32 | 32 | 30 | 25 | 26 | |
Note: Percentages may not add up ex actly to 100% due to rounding | |||||||||||||
TABLE 5A
RATING OF CURRENT JOB MARKET – TREND “How would you rate the current job market of your region of the nation ?” Base: All adults |
|||||||||||
2008 | 2009 | ||||||||||
June | July | Jan | April | June | Aug | Sept | Oct | Nov | Dec | ||
% | % | % | % | % | % | % | % | % | % | ||
GOOD (NET) | 28 | 30 | 6 | 12 | 9 | 8 | 10 | 10 | 8 | 9 | |
Neither good nor bad | 18 | 19 | 18 | 20 | 19 | 21 | 22 | 20 | 18 | 19 | |
BAD (NET) | 53 | 51 | 76 | 68 | 72 | 71 | 68 | 70 | 73 | 72 | |
2010 | |||||||||||
Jan | Mar. | April | May | June | Aug | Sept | Oct | Nov | Dec | ||
% | % | % | % | % | % | % | % | % | % | ||
GOOD (NET) | 10 | 8 | 10 | 12 | 10 | 12 | 10 | 13 | 11 | 13 | |
Neither good nor bad | 20 | 18 | 21 | 20 | 25 | 22 | 21 | 21 | 23 | 24 | |
BAD (NET) | 70 | 73 | 70 | 68 | 66 | 66 | 69 | 66 | 66 | 63 | |
Note: Percentages may not add to 100% due to rounding | |||||||||||
TABLE 5B
RATING OF CURRENT JOB MARKET IN YOUR REGION – BY REGION “How would you rate the current job market of your region of the nation?” Base: All adults |
||||||
Total | Region | |||||
East | Midwest | South | West | |||
% | % | % | % | % | ||
GOOD (NET) | 13 | 14 | 9 | 16 | 10 | |
Very good | 2 | 4 | * | 2 | 2 | |
Somewhat good | 11 | 10 | 9 | 14 | 8 | |
Neither good nor bad | 24 | 32 | 21 | 22 | 22 | |
BAD (NET) | 63 | 54 | 70 | 62 | 68 | |
Somewhat bad | 38 | 31 | 45 | 38 | 39 | |
Very bad | 25 | 23 | 25 | 24 | 29 | |
Note: Percentages may not add to 100% due to rounding; * in dicates less than 0.5% | ||||||
TABLE 6
EXPECTATIONS FOR JOB MARKET IN SIX MONTHS – TREND “How do you think that the job market in your region of the nation will change over the next 6 months?” Base: All adults |
|||||||||||
Jan.
2009 |
April
2009 |
June
2009 |
August
2009 |
June
2010 |
Aug
2010 |
Sept
2010 |
Oct
2010 |
Nov
2010 |
Dec
2010 |
||
% | % | % | % | % | % | % | % | % | % | ||
BETTER (NET) | 15 | 23 | 21 | 28 | 26 | 23 | 21 | 23 | 30 | 25 | |
Will be much better | 1 | 3 | 2 | 2 | 1 | 2 | 2 | 3 | 2 | 2 | |
Will be somewhat better | 14 | 20 | 19 | 26 | 25 | 21 | 19 | 20 | 28 | 23 | |
Will remain the same | 36 | 42 | 47 | 47 | 53 | 49 | 53 | 53 | 50 | 54 | |
WORSE (NET) | 49 | 36 | 32 | 25 | 21 | 27 | 26 | 24 | 21 | 22 | |
Will be somewhat worse | 36 | 29 | 24 | 19 | 15 | 22 | 20 | 18 | 15 | 16 | |
Will be much worse | 14 | 7 | 8 | 6 | 6 | 5 | 6 | 6 | 6 | 6 | |
Note: Percentages may not add to 100% due to rounding | |||||||||||
Methodology
This Harris Poll was conducted online within the United States between December 6 to 13, 2010 among 2,331 adults (aged 18 and over). Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents’ propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words “margin of error” as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in the Harris Interactive panel, no estimates of theoretical sampling error can be calculated.
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