Nearly 6 in 10 Americans (59 percent) report that their personal financial situation is either the single most important factor (12 percent) or one of several important factors (47 percent) in deciding which presidential candidate they will vote for in November, according to new research released today by Bankrate.com (NYSE: RATE).
Americans are evenly divided with respect to which candidate they think will be best for their personal financial situation. Twenty-one percent support President Barack Obama, and an equal 21 percent support Republican challenger Mitt Romney. Fifty percent don't think it will make much difference either way, and 8 percent either don't know or refused to answer.
Franklin Roosevelt (in 1940) was the last sitting president to win reelection with unemployment above 7.2 percent. The latest figure reported by the U.S. Bureau of Labor Statistics (June 1, 2012) was 8.2 percent, down from a peak of 10 percent in October 2009.
How Americans feel about the U.S. economy and their own finances will be central to the election on Nov. 6, said Claes Bell of Bankrate.com. While unemployment will probably be above that 7.2 percent historical benchmark when the election takes place, the key question will be whether Americans are comfortable with the progress that has been made since the economy took a turn for the worse. Close to 3 million jobs have been recovered since October 2009, and Bankrate.com's Financial Security Index hit an 18-month high last month, but some recent indicators have been less positive. At this point, the election seems too close to call.
The new survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here: http://www.bankrate.com/finance/economics/personal-finances-2012-election.aspx.
The PSRAI June 2012 Omnibus Week 1 obtained telephone interviews with a nationally representative sample of 1,000 adults living in the continental United States. Telephone interviews were conducted by landline (600) and cellphone (400, including 194 without a landline phone). Interviews were done in English by Princeton Data Source from June 7-10, 2012. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.6 percentage points.
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service