With a strong economy, President Trump has favorable economic headwinds going into the next election, but many voters aren’t looking for 2020 to be a referendum on the state of the economy. A majority of people in a new CNBC|SurveyMonkey poll say the next election is mainly about issues other than the economy (61% vs. 34%).
Among the general public, a plurality (44%) say they are better off financially than they were in 2016, the final year of Barack Obama’s administration. These numbers are particularly bolstered by Republicans, 66% of whom say they are better off now than in 2016. Among Democrats, 41% say they are about the same financially as in 2016, while 32% say they are worse off and 27% say they are better off.
Other key results from this latest survey:
- Only about two in 10 people overall, and four in 10 Democrats, say that either a Biden, Warren, or Sanders presidency would make them more hopeful about their own personal financial situation than they would be if President Trump wins a second term.
- A majority of Republicans say impeachment will have a negative effect on the economy, Half of Democrats say it will have a positive effect on the economy, and 43% of independents (43%) say it will have no impact.
- More than three-quarters of people (76%) say they are the person most responsible for managing their own money. For those few people who aren’t chiefly in charge of their own finances, the majority (77%) say the person say the person who does also shares their political views.
- A majority of the public (65%) consider a recession likely to occur over the next year. Among those who expect a recession soon, nearly half say they’re proactively paying down debt (47%) or cutting household spending (45%), and a full third (34%) say they’re growing an emergency fund.
Click through all the results in the interactive toplines below:
Read more about our polling methodology here.
Which one of the following issues matters MOST to you right now?
Would you say that you and your family are better off or worse off financially than you were in 2016?
Now looking ahead - do you think that a year from now you and your family will be better off financially, worse off financially or just about the same as now?
As you may know, periods of economic growth are followed by periods of recession. Do you think a recession over the next year is…
What steps, if any, are you taking to prepare yourself for a possible recession? (Select all that apply.)
Do you expect your personal spending to increase, decrease, or stay about the same in the next 12 months?
Do you expect to spend more, less or about the same on gifts for family and friends this upcoming holiday season compared to last holiday season?
Thinking about the things you buy on a regular basis (excluding gasoline), have you noticed the cost of any of them go up in the last 3 months?
Who is the person most responsible for managing your money?
Does the person most responsible for managing your money share your political views?
If any of these Democratic candidates were to win the presidency in 2020, would you be more hopeful about your own personal financial situation than you would be if Trump wins a second term? (Select all that apply.)
If any of these Democratic candidates were to win the presidency in 2020, would you be more fearful about your own personal financial situation than you would be if Trump wins a second term? (Select all that apply.)
As you may know, Bill Clinton won the presidency in 1992 running with the unofficial slogan "It's the Economy, Stupid." For you, is the next election mainly about the economy or mainly about other issues?
Thinking ahead to the 2020 presidential election, how important is it that you support a candidate whose policies will help improve your own personal financial situation?
Do you think the House of Representatives’ impeachment inquiry of President Trump will have a positive, negative, or no impact on the U.S. economy?