Poll: Obama better for Americans' wallets

A similar survey conducted in July showed the 2 major candidates tied.

By Jonathan Berr Oct 16, 2012 7:48AM

Americans increasingly believe they will be better off financially if President Barack Obama is re-elected, according to a poll released Monday by Bankrate.com (RATE). The results are a bit of good news for the incumbent, who is trying to regain lost momentum since his recent lackluster debate performance.

 

The poll of more than 1,000 adults, conducted by Princeton Data Source, shows 29% of respondents believe Obama is better for them financially, compared with 20% who believe Republican challenger Mitt Romney would benefit them more.

 

A similar poll conducted in July showed the two candidates in a tie at 21%. The margin of error is 3.7 percentage points. Not surprisingly, 62% of Americans say their personal financial situation is an important factor in their vote.

 

"I was a little bit surprised to see the change that happened since we did the last survey," Claes Bell, a senior banking analyst with Bankrate.com, said, adding that the survey also found that voters who feel they are worse off financially are more likely to support Romney.

 

Both Obama and Romney, a former Massachusetts governor, are tied in many polls. The economy is at best a mixed bag for Obama. While unemployment recently fell below 8%, it is still high. The real-estate market is showing signs of improvement, albeit at a snail's pace. Many investors and business executives are worried about the fiscal cliff, though the Republicans deserve some of the blame for the looming draconian cuts to government spending as well.

 

Both candidates claim to be champions of the middle class, tough they both have vastly differing approaches to the economy. The Bush tax cuts are a case in point. Obama advocates extending them for a year for households earning less than $250,000 a year.   Romney favors making the reductions, passed in 2001 and 2003, permanent. Some leaders, such as New York City Mayor Mike Bloomberg, say both approaches are wrong and say the Bush tax cuts should be allowed to lapse because the U.S. cannot afford to keep them. They are scheduled to expire in 2013.


As the election draws closer, Obama will need to prove to voters that he has done the best he could with the cards he was dealt and if Americans stay the course better economic times lie ahead. That is a tough sell even in the best of times.

"The agenda and the election are being driven a lot by that personal economic fear," Matthew Singer, an assistant professor of political science at the University of Connecticut, told Bankrate.

Follow Jonathan Berr on Twitter@jdberr.

441Comments
Oct 16, 2012 4:26PM
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  I looked up gas prices for 2008 because I couldn't remember them being half the price they are today. On Aug 6, 2008, the average price of gas was 3.91/gallon.

On the other hand, the Dow closed at 8776.39 on Dec. 31, 2008. Today it closed at 13551.63. Frankly, that makes me way better off than I was four years ago.

Oct 16, 2012 4:19PM
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The only thing this article proves is that the majority of the people commenting are blithering idiots.  Yo, Buddadon......you're top of the list.

Oct 16, 2012 4:19PM
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one another thing.. Obama nor Romney are going to change the price of gas or oil.. if you want a price change in that area.. we either stop using those resources ( which is unlikely )  or we figure out a better source to run on..  Oil gas company are so damn  greedy they over price gas because thats the only thing out there.  and i seriously believe whoever threats those companys while running for president .. will never will an election.  just saying .
Oct 16, 2012 4:17PM
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Republicans cannot grasp the facts. Koch brothers telling you to vote Romney, sending out 45 thousand memo's to all workers is communism, your job if you do not vote Romney. The reason is for the money and power they get with Romney. They are worth 25 billions a piece. If you are not and you vote that way you are voting against your economic interests and your families.
Oct 16, 2012 4:16PM
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3 hours ago
Another BS survey,  Does the sound of HIGHER taxes to follow the election if Obummer is (GOD forbid)  is voted in again, Hmmm,   Does not feel good in my Wallet,  how about yours ??
3 seconds ago
obama figures only the government should have a wallet!!!!!   Everybody else needs to just hang around and get free food, meds, cell phones, rent, and on and on and on.

YOU KNOW!!   IT'S CALLED REDISTRIBUTION!!!!!

REMEMBER - FROM THE MEDIA - BELIEVE ONE TENTH OF WHAT YOU HEAR - AND NONE OF WHAT YOU SEE!!!

Oct 16, 2012 4:14PM
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Obama will probably be better for the wallets of those that are on government assistance, but that is not what America is all about, All able bodied people should be working for a living, not living off the government, IE TAX PAYERS. Romney will put the American people back to work, and cut the federal deficit........Romney/Ryan 2012
Oct 16, 2012 4:13PM
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At the end of the day .. if it comes down to " whose putting more money in my wallet "   Both of them have to say the truth.. cut spending and low taxes... its as simple as that. i been following real close to what they are trying to do.. but none of them say what needs to be said. there to afraid of let down and what not. smh .. cant believe this is the best we can offer.
Oct 16, 2012 4:13PM
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What gets me is the MISINFORMED, please tell me how Obama is responsible for the price we pay at the pump, OIL, which gasoline is made from gets it's price set by the GLOBAL STOCK MARKET, not by what we do here in the US..
Oct 16, 2012 4:13PM
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inflation is killing the people in the mid east and north africa. wink, wink, nod nod. wake up people.

 

Oct 16, 2012 4:11PM
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Why is it so difficult for liberals and Obama fans to comprehend simple 8th grade economics???

 

If you have 100 people taking a slice of pie and only a few people baking the pies the pie is going to run out very quickly.  That's Obama's plan......No more pie!

 

Now, take half those people in the pie line and put them to work in the bakery making  pies two things happen, less people need the free pie and there is a heck of a lot more pie to go around for those who want it or need it.....It's called a surpluss.  That's Romney's plan.......Got it? Pretty simple, right?

 

 

Oct 16, 2012 4:07PM
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OBAMA DRAMA - he's an Evil Doer and Hoodlum causing death to the American way of life.

Highest National Debt on record, ObamaCare will mean No Health Care for the Elderly,

Stimulus helped the Wealthy and Bailed out Large Corporations but Where are the Jobs?

1st High End Elected Official who commented and took sides to support LGBT's.

Wants to give All illegal immigrants free citizenship. He's a Muslim and unverified as a Natural U.S. Born Citizen.  Obama is Fruadulent, Wasteful, and Abuseful.

  Why does anyone want more OBAMA DRAMA?

 

Better off with Romney.

 

VOTE for Mitt ROMNEY

Oct 16, 2012 4:06PM
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and the tide rushes in and washes my castles away                                                                                      than i'm really not so sure which side of the bed i should lay.
Oct 16, 2012 4:05PM
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If Mr Romney believed so much in America system and it workers why is that he establish company that it main function is to outsource America jobs to china. Look at what is going on with American workers  now in Chicago with Bain capital why is this  man call  "Romney" think the best way  to make money  is to hurt Americans families  by take away their job  to other countries like china and  he want to be their president, this  is an insult to American people if they vote for this heartless , greedy man and If he believed in America like he and his wife  always say, why do they choose to keep their money in foreign banks. American don't be foolish your choice is too  clear  if you don't want to regret. Romney is a deceiver so  also republican. I am not American,  I am  from Canada but I think  republican are fooling American they are rich-men club not political party.
Oct 16, 2012 4:04PM
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The union is fining members for not openly campaigning for their thug leaders choices in poitical favorites and people are worried about the Koch bros? The whole process has become sleazy, demo or repub. If I had a company and influence, I would try to persuade my employees to vote in my, and consequently, their best interests.

Hollywood celebrities, most often with the intellect of a defective burro, spew out political opinions about all kind of complex issues with grand declarations of broad empty statements that confirm their ignorance. Worst part is that some people assign credibility to them. Can you imagine one of these morons having a discussion about energy where costs per BTU is at the center of the diologue? HA

The Koch brothers arent alone, former Obama supporters Steve Wynn, Mort Zuckerman and others have publicly made their fears known as to the harm their business will suffer under Obama.

Where is Oprah and Collin Powell this time around? Dont see them on the campaign trail. 

Oct 16, 2012 4:04PM
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If Mr Romney believed so much in America system and it workers why is that he establish company that it main function is to outsource America jobs to china. Look at what is going on with American workers  now in Chicago with Bain capital why is this  man call  "Romney" think the best way  to make money  is to hurt Americans families  by take away their job  to other countries like china and  he want to be their president, this  is an insult to American people if they vote for this heartless , greedy man and If he believed in America like he and his wife  always say, why do they choose to keep their money in foreign banks. American don't be foolish your choice is too  clear  if you don't want to regret. Romney is a deceiver so  also republican. I am not American,  I am  from Canada but I think  republican are fooling American they are rich-men club not political party.
Oct 16, 2012 4:03PM
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Who in the world says Obama is better for ME???????????????????
Oct 16, 2012 4:03PM
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The stock market is doing great with the government buying stocks. How much of GM do they own? It is time to help property owners and in rein in the banks on control of prices.. Inflation is putting the screws to most who work with gas prices doubling in the last four years. Our place went down $13,000 last month now they say $16,000.  People are still getting depressed and want out of home loans. We need a change of leadership. If a new leadership cannot help them boot them too. Some people laugh too much and others know it's not the fall but the sudden stop that kills.
Oct 16, 2012 4:02PM
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This story is a lie.  Pathetic press kolk wanabees that are skewing this election.  There is no mpress.  THe main stream pres sis DEAD.  NOT ONE REPROTER HAS ASKED OBAMA how he slammed BUsh for the deficit when he himslef has nearly doubled it.  The press slammed Bush when gas prices were $2+.  Ther prss is silent now thats its near $5.  Once Obamacare takes effect many busimesses have already said they will downsize and go to more part time workforce.
Oct 16, 2012 4:01PM
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If Mr Romney believed so much in America system and it workers why is that he establish company that it main function is to outsource America jobs to china. Look at what is going on with American workers  now in Chicago with Bain capital why is this  man call  "Romney" think the best way  to make money  is to hurt Americans families  by take away their job  to other countries like china and  he want to be their president, this  is an insult to American people if they vote for this heartless , greedy man and If he believed in America like he and his wife  always say, why do they choose to keep their money in foreign banks. American don't be foolish your choice is too  clear  if you don't want to regret. Romney is a deceiver so  also republican. I am not American,  I am  from Canada but I think  republican are fooling American they are rich-men club not political party.
Oct 16, 2012 4:00PM
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Im assuming that the poll was conducted by media matters in which they polled unemployed georgetown university liberal arts students.
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