(WXYZ) - As the two presidential hopefuls lock horns over the recent mortgage and banking crisis, an exclusive new WXYZ-TV, Detroit News poll shows the economy is having an affect on the opinions of likely voters.
WATCH THE POLL RESULTS IN THE VIDEO PLAYER ON THE RIGHTThe poll was conducted by EPIC MRA between September 20 and September 22, and features a sample of 406 people. It has a margin of error of plus or minus 4.9%.
The poll found that if the election were held today 48% of people in Michigan would vote for Barack Obama. That’s compared with 38% of people who say they would vote for John McCain.
The poll also asked if voters had favorable opinions of the candidates on both tickets. 56% of people say they have a favorable opinion of Barack Obama, compared with a 48% favorable rating for John McCain. On the Vice Presidential side of the tickets, 46% of people say they have a favorable opinion of Sarah Palin, compared with 52% of people who say they have a favorable opinion of Joe Biden.
Turning to question on the economy, the poll found that a whopping 80% of people said the US economy is getting weaker, compared with 2% of people who say it’s getting stronger. 17% of people believe that the economy is staying about the same.
As for our personal situations, 47% of people say they’re facing a bleaker future. Another 47% of people said their outlook is looking about the same. Only 6% of people see their financial future improving.
80% of people say they’re paying close attention to the current situation with the banking and financial systems. Only 41% of those asked say that in general they favor government intervention to fix the situation. 43% say they oppose government intervention. However, 50% of people say they approve of the government’s takeover of Fannie Mae and Freddie Mac. 40% of people disapprove of the takeover.
The situation is reversed when it comes to the AIG bailout. 46% of people disapprove of that measure, while 40% of people approve of it. Things flip again when it comes to the massive $700,000,000,000, 44% of people say they approve it, 41% of people disapprove, and 15% expressed no opinion either way.
The country’s recent economic problems are weighing heavily on the minds of voters, and many of them are concerned. 61% of people say it’s likely the country is headed towards another Great Depression. 88% of people say they’re concerned about the affect the possible failure of several banks or financial institutions will have on the economy. Those fears have 56% of people saying they want more regulation for the financial systems in this country.
Voters say they also have a clear idea of who they think will better lead this country’s economy, with 42% saying it would be Obama, compared with 32% favoring McCain.
The poll also contained questions about foreign policy. You can find those results along with the rest of the information from out poll below.
COMPLETE POLL RESULTS:I would like to read a list of several political figures. For each one, please tell me if you recognize the name, and if you do, whether you have a favorable or unfavorable opinion of that person.
John McCain - Favorable – 48%
- Unfavorable – 44%
Barack Obama - Favorable – 56%
- Unfavorable – 34%
Sarah Palin - Favorable – 46%
- Unfavorable – 40%
Joe Biden - Favorable – 52%
- Unfavorable – 31%
Do you think the U.S. economy is getting stronger, getting weaker, or staying about the same? 2% Getting stronger
80% Getting weaker
17% Staying about the same
Do you think that your personal or family financial situation is getting stronger, getting weaker, or staying about the same? 6% Getting stronger
47% Getting weaker
47% Staying about the same
Next, I would like to ask how you would vote for President in the November 4th election.
If the election were held today, would you vote John McCain the Republican, Barack Obama the Democrat, Ralph Nader the Independent, or Bob Barr the Libertarian? Vote for Barack Obama the Democrat - 48%
Vote for John McCain the Republican - 38%
Vote for Ralph Nader the Independent - 2%
Vote for Bob Barr the Libertarian - 1%
Undecided/Don’t know/Refused to answer– 12%
How much have you been following the situation with national banking system and financial markets – very closely, somewhat closely, only a little or not at all? Closely - 80%
Not Closely - 20%
Generally speaking, do you favor or oppose the federal government taking action to intervene in the private sector, either by guaranteeing loans to for-profit corporations, or by more direct takeover of those troubled companies?Favor - 41%
Oppose- 43%
Undecided/Don’t know/Refused to answer= 16%
Because of the troubled financial situation with the two largest federally chartered mortgage finance companies, Fannie Mae and Freddie Mac – who handle more than half of all home loans – the federal government recently assumed control of these mortgage lenders. This move, committing up to an estimated $200 billion in federal revenue to cover potential losses, was made in an attempt to bring some stability to an already shaky housing market.
Based on what you know about this action, did you favor or oppose the action to assume federal government control of Fannie Mae and Freddie Mac?Favor - 50%
Oppose - 40%
Undecided/Don’t Know/Refused to answer - 10%
The federal government authorized up to $85 billion in loans and financial assistance to one of the largest international insurance companies, called A.I.G., or the American International Group, as another means to bring back confidence in the U.S. economy.
Based on what you know about this action, did you favor or oppose the decision to provide financial assistance to A.I.G.?Favor – 40%
Oppose - 46%
Undecided/Don’t know/Refused to answer - 14%
In the latest developments, the Bush administration through the United States Treasury Department and the Federal Reserve, along with the leaders of Congress, are working on a comprehensive plan to shore up the entire private financial sector of the economy. While the exact outline of the plan has to be worked out, the plan would commit up to an estimated $700 billion to assist a wide collection of large private companies such as banks and investment firms, in order to avoid a collapse in the financial markets – which some experts say could be quite severe.
Based on what you know about this action, do you favor or oppose a plan to provide this large-scale federal financial assistance to the private sector? Favor - 44%
Oppose - 41%
Undecided/Don’t Know/Refused to answer - 15%
Because of these recent events with our banking system and financial markets, what do you think the chances are that the United States could be headed for another Great Depression? Do you think it is very likely that we are headed for another Great Depression, somewhat likely, only a little likely or not really likely at all? Likely - 61%
Not likely - 36%
How concerned are you about the possible impact on our nation’s economy of the failures of several banking institutions and our financial markets – very concerned, somewhat concerned, only a little concerned or not really concerned at all? Concerned – 88%
Not concerned - 11%
Thinking about the amount of federal regulations that there are in place to control the actions of banks, lending institutions and our financial markets, do you think there are currently enough federal regulations in place to deal with the actions of our financial institutions, should there be more regulations, or, should there be fewer regulations? More regulations - 56%
Fewer regulations - 10%
Undecided/Don’t know/Refused to answer - 13%
Based on what you know about the comments and plans to address the problems with our banking system and financial markets, which candidate do you think has proposed a plan to address the situation that is closer to your views about the issue Barack Obama or John McCain? Barack Obama – 42%
John McCain – 32%
Neither – 11%
Undecided/Don’t know/Refused to answer – 13%
Turning to the issue of foreign affairs…
Overall, which candidate Barack Obama or John McCain, has proposed policies dealing with foreign affairs issues that come closer to your view? Barack Obama – 42%
45% John McCain – 45%
Undecided/Don’t know/Refused – 9%
Now I would like to read more specific descriptions of foreign affairs issues. For each one I describe, please tell me whether you think John McCain the Republican or Barack Obama the Democrat will do a better job of handling that issue?
Striking the proper balance between using diplomacy and using the possible threat of military power or economic sanctions in dealing with Russia.John McCain – 41%
Barack Obama – 46%
Improving the image of the United States throughout the world?John McCain – 33%
Barack Obama – 53%
Dealing with the war in Afghanistan?John McCain – 46%
Barack Obama – 45%
Dealing with the ongoing effort to protect America from another terrorist attack?John McCain – 50%
Barack Obama – 38%
Dealing with international trade issues and the problems of a global economy?John McCain – 35%
Barack Obama – 51%
Dealing with the war in Iraq?John McCain – 45%
Barack Obama – 46%
Working with other countries to fight international terrorism?John McCain – 47%
Barack Obama – 42%
Dealing with the growing influence of Iran?John McCain – 45%
Barack Obama – 41%
