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. Deb

    ....and Obama has ONE TRILLION in new spending.
    Scary.

    October 6, 2008 12:50 pm at 12:50 pm |
  2. Lynn: 60 yr old white Obama supporter

    ...and CNN's blog is filled with Palin's lies, unsubstantiated distortions...broadcasting Pa;in's outlandish statements after your "fact checking" them and finding them FALSE...looks like you have fallen for McCain's attempt to "turn the page"...hopefully voters won't fall for it.

    Obama is talking about the issues yet you are NOT reporting this in your silly attempt to even everything up.

    You should be insisting that both campaigns talk about the ISSUES when they come on to be interviewed and not covering statements from Palin until she is willing to come on air and repeat and substantiate her claims. STEP UP TO THE PLATE AND DO YOUR JOB!!

    October 6, 2008 12:50 pm at 12:50 pm |
  3. Becky

    More reason not to let someone become President who openly admits he/she does not know much about economics. (That would be McCain.)

    Obama for President

    October 6, 2008 12:51 pm at 12:51 pm |
  4. Rob

    McCain is the de-regulator he is complicit with Bush in the complete collapse of the economy as we know it. McCain's response? Character attacks with his gimmick vp choice.

    ENOUGH!!!

    We need someone with new ideas and not owing wall street and special interests anything, someone cool in a crisis with judgement and wisdom – not someone that can't decide what to do from one day to the next and would just lets things go deeper into the hole.

    Get rid of da bums!

    October 6, 2008 12:51 pm at 12:51 pm |
  5. JOHN

    There is NO reason to believe that Obama is the great messiah, his experience is minimal. McCain is not the answer either. WE ARE DOOMED....WRITE IN BILL CLINTON!!!!!!!!!!!!!!!!!!!!!!!!!!

    October 6, 2008 12:51 pm at 12:51 pm |
  6. Rick from Illinois

    Palin should stop that big mouth of hers from flapping about Obama being a terrorist, give me a break! Who does she think we are??? Shut the heck up! She should talk, "miss let's wait till the election is over to probe any investigations!"

    John McCain, you suck! Really you do, You and your lies and all your puppets trying to get Pal-in-the -butt do all your dirty work! You are a crook yourself!

    I'm sick of the messy path the Bush administration has led America down, and you two clowns would certainly make it a lot worse! "Krusty" the clown and "Bozo" would make a better Republican President/Vice-President ticket.

    Good grief, Lord help us!

    October 6, 2008 12:51 pm at 12:51 pm |
  7. April in Texas

    This is what the canidates should be focusing on.. Instead McCain is needing to change the subject on attacks simply because their campaign can not win on issues. McCain can not win on issues, especially the economy and that should be a sign on who to vote for. Obama at least has a plan on the economy and the issues where McCain can only sling attacks because that is all he has. Clear choice is Obama/ Biden for our next president and vice president...

    Obama/Biden 08

    October 6, 2008 12:51 pm at 12:51 pm |
  8. Independent tired of GOP

    The GOP has to resort to lies about Obama to distract from the fact that they have NO PLAN and NO IDEA how to fix the economy or anything else for that matter.

    They actually think $5000 will pay for a person's health insurance, talk about out of touch with reality. I guess if you have $150 million you have no clue how much anything costs.

    A vote for McCain/Palin is a vote for the McSAME politics and a vote for a depression.

    Wake UP REPUBLICANS!

    October 6, 2008 12:51 pm at 12:51 pm |
  9. Johnny

    While John McCain is busy with rev. wright and bill Ayers crap!

    John McCain what is your plan to fix the economy??????

    October 6, 2008 12:51 pm at 12:51 pm |
  10. zaedrus

    We've been circling the drain for several years without political action because of partisan agendas.

    The next president will not be able to stop the final flush – the cycle has to hit bottom before returning to the upswing, making the effort to shortcut it (via a bailout) absolutely frivolous.

    It is inevitable. The election will not effect it (so most of the spewing in this comment section is silly). The next leader (whichever it is) will be unfairly blamed, but COULD be able to get us on our feet quicker. Lemonade out of lemons.

    Latifah/Fey '08.

    October 6, 2008 12:51 pm at 12:51 pm |
  11. Sully

    Why do all of you think Obama is the answer?

    I guess community organizers and politicians who have served for 100 days before they decide they are going to run for President is exactly what this county needs.

    Obama is a great speaker....but that is it. He folds like a cheap suit and changes his opinion on issues more than I change clothes.

    October 6, 2008 12:51 pm at 12:51 pm |
  12. HyperD

    Palin wants Alaska to become an Independent Nation!!! How interesting! And there is a video of her addressing the Alaska Independence Party convention and wishing them luck? Even more interesting... How funny that now she talks about Obama's radical "friends", even though Obama was never really connected with Ayers, but she is tied to the AIP? Search for the video in you tube...

    NO MR. McCAIN, WE SHALL NOT FORGET THAT REPUBLICANS BANKRUPTED THIS COUNTRY!

    October 6, 2008 12:51 pm at 12:51 pm |
  13. MaryAnne

    A depression? I thought McCain said our economy was fundamentally stable. It's amazing to me how many followers this man continues to have.

    Obama/Biden

    October 6, 2008 12:51 pm at 12:51 pm |
  14. As the 'Paign Turns

    "Sooner or later, people are going to figure out if all you run is negative attack ads you don't have much of a vision for the future or you're not ready to articulate it." – John McCain, 2000

    Yes, read it again. Copy it, paste it all over the net.

    October 6, 2008 12:52 pm at 12:52 pm |
  15. Judy

    Sarah and John dosen't have any changes to the old plan. What they want to do is let the depression regression and distracting continue and they McCain would say I will get you out of this if you vote for me. I am a maverick and I know how.

    The thing for us to know how McCain is that you cann't even get out of campaign without smear tactics, so you want us as American citizens to wait until you stop all the negative campaigns and focus on what is really happening.

    Well Mccain enough is enough so let you negative ways stay with you but we don't want to ge dragged down the street with you.

    Obama and Biden can ride the gold horse while you and Barbie ride ken.

    Obama/Biden 08

    October 6, 2008 12:52 pm at 12:52 pm |
  16. Andy

    This country is heading into a depression. Corporations must wake up and stop sending jobs over seas. They are about to lose their customers and income. If Americans are unable to buy products the American Corporations will fail.

    October 6, 2008 12:52 pm at 12:52 pm |
  17. Mary

    Our economy is in trouble, big trouble and all Palin wans to do is talk about Reverend W. then why does she not want to talk about her relations with her witch hunting pastor and her church issues? Palin we do not care about these matters we care about our Nations economy and how it is to be fixed. Go back to Alaska and take care of your problems over there. You do not understand ours, they are to big and complecated for your mind.

    October 6, 2008 12:52 pm at 12:52 pm |
  18. Palin Hates America

    McCains tax cuts for the rich will REWARD the same people he vilifies for creating this mess. Thanks, Gramps!

    October 6, 2008 12:52 pm at 12:52 pm |
  19. Ed, Santa Fe NM

    And guess who's at fault? Bush and his rotten 8 years of endless war and BIG OIL. McCain and Barbie have NOTHING to offer but a continuation of Bush. Even as self-branded mavericks (what a laugh), the only thing they can think of for their rancid campaign is to spew lies and innuendo about Obama.

    These 2 don't have an idea between them!

    October 6, 2008 12:52 pm at 12:52 pm |
  20. Jacques

    !!! Maybe We Need Another Trillion To Bail Out The Stock Market !!!

    Why don't the government buy up all the stock that fall below value then the government can then sell it back at it profit.

    Our children our getting skewed.

    October 6, 2008 12:52 pm at 12:52 pm |
  21. Sweetie

    A depression started by Bill Clinton 9 years ago when he insisted on "Social Engineering".

    The Market has now proven what I learned in Micro Economics 101-You can't artificially inflate the economic balloon or it will POP!

    The Left Wing Liberals could have done something two years ago, as they have control of Congress and are charged with the Oversight-they chose to ignore the warnings and now we have Crashed!

    If Obama is elected we will never be able to recover-his plans-and don't take my word for it-many economic experts have taken a look at Obama's plans and they say his plans will.....

    CHOKE THE ECONOMY FROM RECOVERY!

    Vote for Experience to get us through the tough years ahead!

    McCain/Palin-08

    October 6, 2008 12:52 pm at 12:52 pm |
  22. jeff - Dallas

    Thanks you GW Bush and crew. By taking us into a needless war, extending tax breaks to corporations and the rich, and lack of oversight for the financial industry you are on the brink of doing what our enemies have failed to do.

    October 6, 2008 12:52 pm at 12:52 pm |
  23. Chop Miller

    Reagan and the Bush's have done more to bring this country down, then the other 40 presidents combined. Let's make that 39 and include Hoover with Reagan and the Bushs', all were greedy Republicans.
    Welcome to the "New Banana Republic".

    October 6, 2008 12:53 pm at 12:53 pm |
  24. Kim

    McCain thinks the USA is not in a financial crisis, while the rest of the world is smart enough to know that we are.

    McCain is an idiot!

    Obama/Biden 08 We need this is country fixed now!

    October 6, 2008 12:53 pm at 12:53 pm |
  25. Yolanda

    It's amazing to me how anyone could possibly vote for another 4 more years of the same. Americans are easily fooled and more easily led.

    October 6, 2008 12:53 pm at 12:53 pm |
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