76% say Obama can fix economy - poll

CNN survey shows about three-quarters believe Obama will improve economic conditions and calm markets.

EMAIL  |   PRINT  |   SHARE  |   RSS
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Lara Moscrip, CNNMoney.com contributing writer

What should Congress do for U.S. automakers?
  • Lend them money
  • Do nothing
  • Lend them money but kick out current execs

NEW YORK (CNNMoney.com) -- A poll released Thursday found that a majority of Americans believe that President-elect Barack Obama can fix the economy.

According to a CNN/Opinion Research Corp. poll, 76% of Americans said they believe it's likely that Obama will improve economic conditions.

In addition, 73% of those surveyed said they believe that Obama will bring stability to the financial markets.

The poll shows that the public is optimistic about the incoming administration in spite of the tough economic conditions, according to Martha Joynt Kumar, professor of political science at Towson University in Maryland and director of the White House Transition Project, a research group.

"I think it speaks to the goodwill that the public has for President-Elect Obama," Kumar said.

"The public realizes that we are in tough economic times, but they still have some optimism that in the future that we will be on firmer financial ground. Although people are clearly worried about when that time will come," she said.

Obama, who won 53% of the popular vote on Nov. 4, takes office Jan. 20. Many have compared the obstacles that face him to those Franklin Delano Roosevelt confronted when he won the 1932 election.

Last week, speaking at his first press conference as president-elect, Obama said that the country is "facing the greatest economic challenge of our lifetime."

The poll was based on telephone interviews with 1,246 adult Americans conducted on Nov. 6-9, 2008. It has a margin of error of plus or minus 3 percentage points.

Of those surveyed, 67% said they believe that Obama will stick to one of his most talked about promises: providing tax cuts to the middle class.

Obama's plans include providing a $1,000 tax cut for working couples making less than $250,000 and introducing other tax breaks for lower and middle-income households.

Another one of Obama's campaign pledges included leaving all tax cuts in place for everyone except couples making more than $250,000 and single filers making more than $200,000. Those high-income groups would see their top two income tax rates revert to 36% and 39.6% from 33% and 35%, respectively.

A majority surveyed in the CNN poll also believe that Obama's presidency will significantly reduce the country's dependence on foreign oil. Nearly two-thirds, or 63%, of respondents said that was somewhat or very likely to occur. To top of page

They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.