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Majority of Americans Confident in Democrats on the Economy

Majority of Americans Confident in Democrats on the Economy

Only 43% confident in Bush to do or recommend right thing for the economy

by Joseph Carroll

GALLUP NEWS SERVICE

PRINCETON, NJ -- Gallup's annual Economy and Personal Finance survey finds Americans more confident in the Democratic leaders in Congress to do or recommend the right thing for the nation's economy than they are in the Republican congressional leaders, Federal Reserve Chairman Ben Bernanke, or President George W. Bush. Of these, the public expresses the least confidence in the president. This is the first time in the seven-year history of the question that Americans have expressed more confidence in the Democrats than in other national leaders. Since last year, there has been little change in the public's confidence in Bush, but an uptick in confidence in Bernanke and in both parties in Congress.

The April 2-5, 2007, poll asked Americans whether they have a great deal, a fair amount, only a little, or almost no confidence in four national leaders or groups to do or recommend the right thing for the economy.

A majority of Americans, 54%, say they have a great deal or fair amount of confidence in the Democratic leaders in Congress to do or recommend the right thing for the economy. This compares with 50% of Americans who express this level of confidence in Bernanke, 48% in the Republican leaders in Congress, and just 43% in Bush. A majority of Americans say they have little or no confidence in Bush on the economy.

Gallup has asked the question annually for the past seven years, and for much of that time, Americans expressed the highest level of confidence in the leader of the Federal Reserve, helmed by the well-known Alan Greenspan at the time of the 2001 through 2005 surveys. Last year, as the public's confidence fell below 50% for all four of these people or groups, including newly installed Chairman Bernanke, Gallup found roughly equal ratings for each of them. Now, Americans express greater confidence in the Democrats.

Here is a more detailed look at the trends on Americans' economic confidence in the four leaders or groups:

Democratic and Republican leaders in Congress . Over much of the past seven years, Americans have maintained similar levels of confidence in both the Republican and Democratic leaders in Congress. The public's confidence in both parties was highest in 2001, at 66% for each, before gradually declining in subsequent years, reaching as low as 42% for the Democrats in 2005 and 45% for the Republicans last year. Confidence in both parties has improved this year, but more so regarding Democrats (from 45% last year to 54% this year) than Republicans (from 45% to 48%).

President Bush . Confidence in Bush on the economy has declined in recent years concomitant with his declining popularity. In 2001, 68% of Americans said they had a great deal or fair amount of confidence in Bush to do or recommend the right course of action on the economy. This sentiment increased to 73% in 2002, when Bush was enjoying historically high approval ratings. Since then, it has gradually decreased each year, and the current 43% confidence rating for Bush is the lowest Gallup has recorded, though not significantly lower than the 44% measured last year.

Federal Reserve Chairman . Three in four Americans expressed confidence in Federal Reserve Chairman Greenspan in 2001. The percentage of Americans expressing confidence in Greenspan declined each year until he left office; still, for much of this time, Americans had more confidence in him than in Bush or congressional leaders. When Bernanke took office last year, roughly 4 in 10 Americans said they had a great deal or fair amount of confidence in him to do or recommend the right thing for the economy. Only 26% said they lacked confidence in Bernanke, and a substantial 34% did not have an opinion of him. The percentage indicating confidence in Bernanke has increased this year to 50%, in large part because more Americans have become familiar with him.

Republicans and Democrats differ significantly in their confidence in each of the four leaders or groups when it comes to the nation's economy.

Confidence in Leaders to Recommend Right Thing for the Economy
Results by Party Affiliation

April 2-5, 2007
(percentages saying "great deal" or "fair amount")

 

Democratic
leaders in
Congress

Republican
leaders in
Congress

George W.
Bush

Federal
Reserve
Chairman,
Ben Bernanke

%

%

%

%

Republicans

34

80

80

59

Independents

46

41

36

53

Democrats

81

27

15

40

As the table shows, Republicans and Democrats vary most substantially in their overall confidence in Bush to do or recommend the right thing for the economy -- 80% of Republicans have a great deal or fair amount of confidence in Bush, compared with just 15% of Democrats. Republicans are also more likely than Democrats to express confidence in Republican leaders in Congress (80% vs. 27%), and, to a lesser extent, Bernanke (59% vs. 40%).

Democrats (81%) are much more likely than Republicans (34%) to say they are confident in the Democratic leaders in Congress to do or recommend the right thing for the economy.

Notably, Republicans are more likely to say they are confident in the Democratic leaders to do or recommend what is right for the economy than Democrats are to say this about the Republican leaders, 34% vs. 27%.

Survey Methods

Results are based on telephone interviews with 1,008 national adults, aged 18 and older, conducted April 2-5, 2007. For results based on the total sample of national adults, one can say with 95% confidence that the maximum margin of sampling error is ±3 percentage points. In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls.

For results based on the sample of 430 Republicans or Republican leaners, the maximum margin of sampling error is ±5 percentage points.

For results based on the sample of 491 Democrats or Democratic leaners, the maximum margin of sampling error is ±5 percentage points.

15. As I read some names and groups, please tell me how much confidence you have in each to do or to recommend the right thing for the economy -- a great deal, a fair amount, only a little, or almost none. How about -- [ITEMS A-B ROTATED, THEN ITEMS C-D ROTATED]?

A. President George W. Bush

 

Great
deal

Fair
amount

Only
a little

Almost
none

No
opinion

%

%

%

%

%

2007 Apr 2-5

15

28

18

38

1

 

 

 

 

 

2006 Apr 10-13

15

29

16

39

1

2005 Apr 4-7

23

28

21

27

1

2004 Apr 5-8

24

31

20

24

1

2003 Apr 7-9

35

30

16

17

2

2002 Apr 8-11

36

37

15

11

1

2001 Apr 6-8

29

39

16

15

1

B. Federal Reserve Chairman Ben Bernanke

 

Great
deal

Fair
amount

Only
a little

Almost
none

No
opinion

%

%

%

%

%

2007 Apr 2-5

9

41

15

10

25

 

 

 

 

 

2006 Apr 10-13

9

32

16

10

34

Trends for Comparison : Federal Reserve Chairman Alan Greenspan

 

Great
deal

Fair
amount

Only
a little

Almost
none

No
opinion

%

%

%

%

%

2005 Apr 4-7

20

36

26

8

10

2004 Apr 5-8

21

40

23

7

9

2003 Apr 7-9

24

41

18

7

10

2002 Apr 8-11

25

44

15

5

11

2001 Apr 6-8

29

45

11

5

10

C. The Democratic leaders in Congress

 

Great
deal

Fair
amount

Only
a little

Almost
none

No
opinion

%

%

%

%

%

2007 Apr 2-5

11

43

21

22

3

 

 

 

 

 

2006 Apr 10-13

7

38

29

21

5

2005 Apr 4-7

8

34

36

19

3

2004 Apr 5-8

7

40

34

16

3

2003 Apr 7-9

11

41

26

19

3

2002 Apr 8-11

11

45

26

13

5

2001 Apr 6-8

15

51

18

12

4

D. The Republican leaders in Congress

 

Great
deal

Fair
amount

Only
a little

Almost
none

No
opinion

%

%

%

%

%

2007 Apr 2-5

7

41

23

27

3

 

 

 

 

 

2006 Apr 10-13

8

37

24

27

4

2005 Apr 4-7

12

35

26

24

3

2004 Apr 5-8

11

38

30

18

3

2003 Apr 7-9

18

44

21

14

3

2002 Apr 8-11

13

46

23

14

4

2001 Apr 6-8

15

51

18

12

4


Gallup https://news.gallup.com/poll/27559/Majority-Americans-Confident-Democrats-Economy.aspx
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