October 6th, 2008
12:00 PM ET
2 years ago

CNN POLL: Majority think country headed for depression

ALT TEXT

A new poll shows Americans think the country is headed for a depression. (AP Photo)

(CNN) - A new national poll suggests that six in ten Americans think another depression is likely.

In a CNN/Opinion Research Corporation poll out Monday afternoon, 59 percent of those questioned say that its very or somewhat likely that another depression could occur in the United States. Four in ten Americans say it not likely another depression will occur.

Watch: Poll: Economic depression is likely

The country went through a decade long depression following the stock market crash of 1929, in which roughly one out of four workers were unemployed, banks failed across the country, and millions of ordinary Americans were temporarily homeless or unable to feed their families.

Eight in ten of those polled say things are going badly in the country today and 84 percent rate the economic conditions as poor.

"The question on how things are going in the country is the longest trend on the public's mood in polling history, and in 34 years, Americans have never had such a negative view," said CNN Polling Director Keating Holland. "That 20% mark is an all-time low the makes the mood of the country worse today than it was during Watergate, the Iran hostage crisis, or the aftermath of 9/11."

Thirty six percent of those polled think the financial crisis will affect them immediately, with 19 percent saying within a year or so. Thirty seven percent say they'll eventually be affected by the financial crisis, with 8 percent saying they'll never be affected by the downturn.

The CNN/Opinion Research Corporation Poll was conducted Friday through Sunday, with 1,006 adult Americans questioned by telephone. The survey's sampling error is plus or minus 3 percentage points for some questions and 4.5 percentage points for others.


Filed under: Economy
soundoff (268 Responses)
  1. Sally in Corvallis Oregon

    Let's hear it for the GOP!!

    October 6, 2008 12:25 pm at 12:25 pm |
  2. Candy West Virginia

    And mccain/palin show us what they think about this by distracting us with lies. The real reason for the attacks against Obama is so we will forget that palin's investigation is going on right now.

    October 6, 2008 12:26 pm at 12:26 pm |
  3. tom

    and the mccain campaign wants to spend its time calling obama a terrorist instead of talking about how to solve the economic problems we all face. disgusting.

    October 6, 2008 12:26 pm at 12:26 pm |
  4. McHoover Would Destroy What's Left of America

    Any 42% of the idiots in this country are still supporting McCain whose comments are identical to Herbert Hoover's as the Great Depression kicked in.

    October 6, 2008 12:27 pm at 12:27 pm |
  5. Hate and fear

    I've made my decision. The USA does not have to be as afraid as McCain/Palin are.

    October 6, 2008 12:27 pm at 12:27 pm |
  6. Tony

    DUH! OF COURSE WE ARE HEADED FOR A DEPRESSION.

    IF YOU WANT IT TO LAST FOR THE NEXT FOUR YEARS ELECT MCCAIN AND PALIN.

    IF YOU WANT THE COUNTRY TO BEGIN TO RIGHT ITSELF AND START MAKING PROGRESS ONCE AGAIN THEN VOTE FOR OBAMA AND BIDEN.

    NOT ROCKET SCIENCE HERE FOLKS. ELECT MCCAIN AND PALIN AND SAY GOODBYE TO YOUR JOB, PENSION, 401(K), RETIREMENT ACCOUNTS AND YOUR CHILDREN'S FUTURES.

    STOP DRINKING THE KOOL-AID PEOPLE!

    October 6, 2008 12:27 pm at 12:27 pm |
  7. Make-Believe Maverick

    Those numbers will grow if McCain is elected

    October 6, 2008 12:27 pm at 12:27 pm |
  8. Dave in Houston

    McCain/Palin on the economy: We got nothing. . . but, that Barack Obama sucks!

    October 6, 2008 12:27 pm at 12:27 pm |
  9. Independent for Obama

    And if we get McCain and Pailin in office you can expect this to only get worse.

    October 6, 2008 12:27 pm at 12:27 pm |
  10. Karen, Arkansas

    being that we all ready in a hard ression...depression is the next step. Thank you George Bush and all your good old boys.

    I miss Bill.

    October 6, 2008 12:27 pm at 12:27 pm |
  11. I Just Said Thanks, but No Thanks to Another 4 Years of g.o.p. corruption, arrogance and incompetence

    The thought of McCain/Palin in control of America's economy is depressing enough.

    October 6, 2008 12:27 pm at 12:27 pm |
  12. William

    We're heading for depression and "Maverick and Goose" are talking about Obama's false ties to people, which has already been addressed anyway. Are these guys serious? Our economy is being flushed at this very moment, and this is the best they can come up with...this has to be a joke, nobody runs a campaign this badly and expects to win. I think it's a joke...Republicans, help me out...is McCain/Palin a practical joke?

    October 6, 2008 12:28 pm at 12:28 pm |
  13. Paul

    It s time for real change. Change that will bring prosperity and peace to our nation. We need the Democrats in the White House. As a nation, we are sick and tired of the GOP 's failed policies that benefit just a few and forget about most of us.

    The GOP will say anything, they now they have lost the respect of millions who are now facing foreclosure, who are worried about medical bills, college tuition, retirement, and who simply can no longer trust a party that simply benefits the wealthy.

    Our economy, our safety and prosperity depend on people who truly care about all people.

    Yes we will!

    Obama – Biden 08

    October 6, 2008 12:28 pm at 12:28 pm |
  14. Tony

    A DEPRESSION!

    YOU BETCHA!

    ELECT MCCAIN AND PALIN AND DON'T WHINE FOR THE NEXT FOUR YEARS AS THINGS GET MUCH WORSE.

    October 6, 2008 12:28 pm at 12:28 pm |
  15. disgruntled voter

    Of course we're headed for a depression. The greedy rich can NEVER get enough! That money should be given to the average citizens and let them stimulate the economy from the bottom up! That's the ONLY way it will work.

    October 6, 2008 12:28 pm at 12:28 pm |
  16. Rudy NYC

    I think we have already crossed the event horizon, the point of no return.

    FACT:
    Government deregulation and "Trickle Down" economics looks good on paper, but does not work in practice for one really simple reason.

    Basic human greed.

    October 6, 2008 12:28 pm at 12:28 pm |
  17. Kelly

    Our economic crisis is real. I worry whether or not my retirement fund will survive.

    Yet John McCain and Sarah Palin want to "turn the page" on the crisis and pretend it doesn't exist. Instead, they would rather spread racist innunedo and unsubstantiated lies about Senator Obama in the name of gaining votes.

    Makes you wonder if they would sell out their own mothers in order to get elect. No morals. Wrong and displaced goals.

    NOT SUITED TO LEAD THIS NATION.

    October 6, 2008 12:28 pm at 12:28 pm |
  18. jfs Memhis, Tn

    GREAT!!!!!! AND MCCAIN AND PALIN ARE SLINGING MUD against the one individual who can fix this mess. GOOD JUDGMENT REPUBLICANS !!!!!!

    October 6, 2008 12:29 pm at 12:29 pm |
  19. Tiff of lithia springs

    Thanks to the corrupt Republicans I'm going to have to call my husbands 90 year old aunt and my 85 year old grandmother for some survival skill tips. Sardines and crackers here we come.

    October 6, 2008 12:29 pm at 12:29 pm |
  20. Laura, Boston

    I'm already depressed enough.

    October 6, 2008 12:29 pm at 12:29 pm |
  21. bob

    And Mccain campaign doesn't think we deserve any better?

    October 6, 2008 12:29 pm at 12:29 pm |
  22. Barney

    The republicans have ruined this country with all their wealthy old white politicians de-regulating everything and shipping all our jobs overseas. Hope they all jump out of very high windows.

    October 6, 2008 12:29 pm at 12:29 pm |
  23. Herman In LA

    I don't care about Wright, or Ayers I'm losing money on wall street Dow down 1000 points.

    Obama / Biden

    Now!!!

    October 6, 2008 12:29 pm at 12:29 pm |
  24. kt

    Let's not vote another Republican into the High Office, PLEASE!!!

    October 6, 2008 12:29 pm at 12:29 pm |
  25. McCain Invented the BlackBerry, Palin Invented the Manure Spreader

    Meanwhile McGimmick is trying to deflect attention away from his profound lack of ideas to address the problem.

    No, wait! He already fixed the economy when he suspended his campaign to jet off to "Worshington" and rampage through the delicate negotiations like a bull-moose in a china shop.

    It's still the economy, stupid!

    October 6, 2008 12:29 pm at 12:29 pm |
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