Gallup: Half See Country Stuck in Recession or Depression

Wednesday, 07 Mar 2012 08:35 AM

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About half of the country, some 46 percent, see the country stuck in a depression or even a depression, a Gallup poll finds.

The good news is 40 percent of Americans believe the U.S. economy is growing, up from 27 percent in April and 3 percent in 2008, the poll finds.

An additional 13 percent of those who see the economy stuck in a downturn say the economy is slowing down even further.

Editor's Note:Wall Street Whistleblower Warns of Meltdown, See His Uncensored Interview

The poll doesn't bode well for President Barack Obama in an election year, as swing voters aren't happy.

"Perhaps troubling for President Obama and other incumbent officeholders seeking re-election this year: political independents' reading of the economy is closer to Republicans' than to Democrats,'" Gallup reports.

"Just over a third of independents say the economy is growing, while about half say it is in a recession or depression."

Furthermore, the country has been in a situation like this before.

When Americans feel the economy slowing at a time when government data shows some recovery, it doesn't bode well for the president.

"That divergence is reminiscent of the public's mood 20 years ago, when George H.W. Bush sought re-election as the country was coming out of a recession," Gallup adds.

"Although the economy was demonstrably recovering in 1992, Americans still felt it was ailing, Bush failed to fully recognize that during his re-election campaign, and voters failed to reward him with a second term. There may be lessons in that for Obama to heed today."

A recent Wall Street Journal/NBC News poll finds GOP hopeful Mitt Romney is gaining in popularity among Republican voters.

The poll finds Romney enjoys the support of 38 percent of likely GOP primary voters in the survey, his highest mark since launching his campaign in June, the Journal reports.

Santorum had 32 percent support.

At present, Obama still enjoys the upper hand over Romney.

"In a head-to-head matchup against Mr. Obama, Mr. Romney would lose, 44 percent to 50 percent, if the vote were held today, the poll found—little changed from January," the Journal adds.

Editor's Note:Wall Street Whistleblower Warns of Meltdown, See His Uncensored Interview

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