The Blame Game: Congress, Wall Street, Home Buyers and Big Business Top Americans List for Economic and Financial Crisis

Business Wire, Oct 24, 2008

Obama seen as better able to handle economic issue than McCain

ROCHESTER, N.Y. -- When it comes to the causes of the financial and economic crisis, Americans spread the blame around to both private and public sectors. Majorities blame all of the following "a lot": banks (76%), homebuyers who took on mortgages they couldn't afford (58%), Wall Street (57%), big business (55%), and Congress (51%), Just under half blame the budget and trade deficit (47%) and President Bush (48%) "a lot."

These are some of the findings of The Harris Poll[R], a nationwide survey of 2,119 U.S. adults surveyed online between October 16 and 20, 2008 by Harris Interactive([R]).

Others are also blamed "a lot" albeit by fewer people including the very rich (39%), the Republicans (36%), and the Democrats (26%). A few people even blame the two candidates "a lot": Senator McCain 12% and Senator Obama 11%.

Looking to the future, more people have confidence in Senator Obama than in Senator McCain when it comes to different aspects of economic policy. He is preferred to McCain on each of the following:

* Dealing with the economy, by 43% to 27% of all adults;

* Choosing good economic advisors, by 41% to 28%;

* Working with Congress on economic issues, by 40% to 25%;

* Dealing with the credit crisis, by 38% to 26%; and,

* Working with world leaders on economic issues, by 38% to 33%.

It is no surprise therefore that a 41% to 27% plurality believe that the economy would do better with a President Obama than under a President McCain.

Interestingly, only a slender 52% majority believes that the new president, can make a big impact on the economy, and fully 33% believe that economic forces are so strong that it doesn't matter who is president.

Replies to one question confirm the high level of criticism of the "bail out" or "rescue" package that was passed by Congress. The public gives it an overwhelmingly negative rating. Only 13% think it is excellent or good.

So What?

This new Harris Poll confirms that the economic and financial crises are continuing to help Senator Obama to maintain or widen his lead over Senator McCain. However, large numbers of people do not believe that the president - any president - has much control over the economy and only 20% of adults believe that the economy will do "much better" under an Obama presidency than a McCain presidency.

Methodology

This Harris Poll was conducted online within the United States between October 16 and 20, 2008, among 2,119 adults (aged 18 and over). Figures for age, sex, race, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents' propensity to be online. Full data tables and methodology for this study can be found at www.harrisinteractive.com.

These statements conform to the principles of disclosure of the National Council on Public Polls.

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About Harris Interactive

Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research, powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit www.harrisinteractive.com.

Harris Interactive Inc. 10/08