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Graduates More Likely to Side with Democrats in view of the Present State of Economy and Politics in the United States - Zpryme
Posted by: Zpryme
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Austin, TX (ZPRYME NEWS) – 05/09/08 - The United States at present is in a state of recession and there is an all-time confidence crisis among Americans who blame the economic downturn on the government officials, particularly the Republicans.
According to the opinion of an editor columnist of New York Times, Paul Krugman, in a report in 14 April 2008 on “Crisis of Confidence”, a survey conducted by the University of Michigan Survey Research Center on the economic perceptions of Americans, which started in the early 1950’s, the latest sentiment index of Americans showed that a large number of Americans are more pessimistic than twenty five years ago with the situation of the economy. It stated in a Pew report, that the percentage of Americans who said that they are better off now is at its lowest percentage in the last forty-four years. This poll surprises most people because the economy has been worse. The unemployment rate is at 5.1 percent and although it is on a rise, it is still relatively low in terms of historical standards. However, the economic attitude of people is poorer now than during 1992 when the unemployment rate was at 7.5 percent.
Edmund Andrew of New York Times on “It’s the Economy Again, and Some See Similarities in 1992”, reported that this year’s economic recession during a time of election ultimately spells disaster for any political party who will hold the White House, especially the Republican nominee. At present, a rare political alignment occurred in the United States as President Bush and lawmaker Democrats in a rush to pass tax rebates and tax cuts that could trigger a $160 billion surge in the United State’s economy by summer. Likewise, Federal Reserve reduced the interest rates to loosen up the credit crunch.
Although many experts believe that these moves will improve the economy, the Republican incumbents, who for eight years controlled the White House, face greater risk than any other politicians. In recent polls that New York Times conducted, in 2006, 51 percent of the surveyors’ said that Democrats are more likely to ensure a strong economy as compared to the 36 percent who voted Republican. Just a year later in the December 2007 poll, 49 percent said that Democrats could better ensure a strong economy while 31 percent voted Republican.
David Leonhardt and Marjorie Connelly of New York Times on “81% in Poll Say Nation is Headed on the Wrong Track”, reported also that Americans at present are more dissatisfied with the direction of the country now from the time when this poll for the New York Times and the CBS News started in the 1990’s. The report revealed that 81 percent of the surveyors’ of the poll said that things are on the wrong track, which is up by 35 percent from the 69 percent in the year 2002. After the war in Iraq crisis and the present recession in the United States, the national consensus is that the country at present faces significant problems. The report likewise revealed that the outcome of the survey showed that 78 percent of the surveyors’ of the poll said that the United States is worse off than it was five years ago and only 4 percent said that it was better off.
This response came from nearly every political group -be they Democrats or Republicans- and every demographic group –be they men, women, cities and rural residents, high school or college graduates of universities. Only 21 percent said that the economy is in good condition and the poll showed that majority of Americans blame the government officials for the crisis. The poll showed that 40 percent blamed the regulators, 28 percent blamed the lenders and 14 percent blamed the borrowers.
With the results of these surveys and with the present state of the economy and politics in the United States, graduates from Universities may still opt to run for various offices in the United States government. However, with the current polls available, the most promising scenario is to see these graduates on the Democrat ticket.
By
Zpryme: Emerging Markets Group
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