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A new Gallup poll shows that a majority of Democrats believe the economy is improving and are “substantially more positive about the economy than are Republicans or independents.” How much more positive? Let’s see:
In the most recent week (March 29-April 4 interviewing), 60% of Democrats said the economy was “getting better,” up from 47% four weeks ago. And the percentage of Democrats who rate current conditions as “poor” dropped from 45% to 36% over the same time, with a slight increase from 12% to 16% in “excellent” and “good” ratings of the economy.
Juxtapose that against the view of the economy held by Republicans:
Where the parties diverge, rather dramatically, is in their perceptions of whether the economy is improving. At this time, by 60% to 36%, Democrats say economic conditions are getting better. By 75% to 21%, Republicans say they are getting worse.
Why such a huge difference between parties? It appears that the Dems have been “drinking the Kool-Aid” when it comes to the political rhetoric put out by their party about the worst of the storm being over.
There clearly is a political component to how Americans view the economy, in particular in terms of their economic outlook. Democrats, whose party controls the White House and both Houses of Congress, are substantially more optimistic about the economy’s direction than are Republicans or independents, and have become more so in recent weeks. Republicans, at odds with the president and the Democratic leadership in Congress, are much less likely to agree that the economy is moving in a positive direction.
Unfortunately for the Democrats, the Associated Press today released a survey of economists which says the economy is going to remain sluggish until into 2011? The survey predicts unemployment remaining above 9% through the end of this year and dropping only to 8.4% by the end of 2011. Home prices are expected to stay flat for the next two years and the economy will only grow by 3%, which is smaller than the usual growth rate early in a recovery.
Regardless of what the Democrat talking points are, no one outside of their own party is convinced that the “worst of the storm is over.”