Declining Confidence in Economy Jeopardizes Obama's Reelection

by Tony Lee 

According to a Rasmussen Reports survey, Americans do not have confidence in the economy, and their continued pessimism puts Obama’s reelection in serious jeopardy. 

The survey found that consumer confidence fell to the lowest level it has ever been this year. Most Americans believe the economy and their personal financial situation are getting worse -- only 25% surveyed believed the economy was getting better while 22% believed their personal finances were improving.

According to the survey, “the lows of 2012 aren't nearly as bad as they were in the previous three years,” the “trend is discouraging” and is “clearly taking a toll on the American people.”

But Consider some of the survey’s other findings: every night for the past four years, a majority of Americans believed the country was in a recession. Only 40% think the country will improve its economic standing in five years.  Only 14% believe their children will be better off than their parents, which is an all-time low in Rasmussen's survey. 

The Obama campaign has planned their reelection campaign around future improvement in the economic trend line and corresponding public perception of an improving economy.

These numbers in Rasmussen’s most recent survey suggest that will not be the case.