Consumer Confidence Index: Electoral Doom For The President?
Posted Oct 17, 2011 at 1:28 AM by Maurice Berger
In yet another indicator of an icreasingly difficult reelection race for the president in 2012, Mark McKinnon observes that "the average consumer confidence index when a president running for reelection wins is 95. When they lose, it's 76. Today the number is 55." Still, the present-day economic situation is highly unusual in that most Americans continue to blame the bad economy on forces outside of Obama's control.
A just released survey by CBS News poll reports that 69% of Americans believe President Obama has not made real progress in fixing the economy; 25% say he has made real progress. Yet, on the question of who to blame for the shaky economy, most--22%--cited the Bush administration, followed by Wall Street at 16%, Congress at 15% and then the Obama administration at 12%. One in 10 said "all of the above. Will this perception help President Obama in his quest for reelection. PollTrack thinks it's too early to tell.