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. mitch

    we probably will. thank you, republicans! you allowed OBL to win the war on terror. should have stayed out of iraq.

    October 6, 2008 12:29 pm at 12:29 pm |
  2. MR. “KEATING 5’ BENEFITED BY $112,000 FROM KEATING IN THE SAVINGS AND LOAN DEBACLE, HOW MUCH IS HE NOW LINING HIS POCKETS WITH FROM THE BANKING DEBACLE AND THE REPTILIANS LOSE POWER?

    You decide if Mr. “Keating 5” who was sanctioned by the Congressional Ethics Committee for taking campaign contributions in the amount of $112,000 from Charles Keating, is the type of public servant you want to have access to the public till? McCain has a proven record of dishonesty, just how much has McCain benefited from the current meltdown occurring right now in the banking industry?

    October 6, 2008 12:30 pm at 12:30 pm |
  3. Independent for McCain

    IF Obama is elect, we will have a long depression "L" shape with high employment and big government spending with high tax on hard working American. He said that he will raise tax, while McCain support tax cut for all.

    October 6, 2008 12:30 pm at 12:30 pm |
  4. sophia nyc

    Chin up folks.. we can get through anything.

    Obama/Biden '08

    October 6, 2008 12:30 pm at 12:30 pm |
  5. Frank

    If we are headed for a depression, I hope that we can skip the Herbert Hoover and go straight to the closest thing we have to FDR.

    Obama, even with all of his faults, sees what the problems are.

    McCain sees nothing be the dollar signs flashed by his wealthy and powerful supporters. He's a sell-out!

    October 6, 2008 12:30 pm at 12:30 pm |
  6. greg

    This is probably the "cold slap in the face" we need.

    October 6, 2008 12:31 pm at 12:31 pm |
  7. sabuc

    Time for a reality check on the nice-to-have things if you've been living beyond your means.

    October 6, 2008 12:31 pm at 12:31 pm |
  8. AJ

    All CEOs who cheated main street by lying on their company's earnings should be sent to jail. Those who got bonus' and fat salaries because of ineptitude of their boards despite the fact that their companies lost money should be investigated for any wrong doings and if found guilty should return their bonus' and sent to jail.

    October 6, 2008 12:31 pm at 12:31 pm |
  9. JL

    isn't this what the giganto bail out was supposed to be for?
    ...our government is going to save us to death...

    October 6, 2008 12:31 pm at 12:31 pm |
  10. James

    This is NOT the time for someone with NO EXPERIENCE to become President!!!

    NObama!!! NO Way!!!

    October 6, 2008 12:31 pm at 12:31 pm |
  11. Tony

    MCCAIN / PALIN CONCERNED ABOUT THE ISSUES?

    NO!

    MCCAIN / PALING CONCERNED ABOUT THE ECONOMIC MELTDOWN IN AMERICA??

    NO!

    MCCAIN / PALIN CONCERNED ABOUT TRUTH, HONESTY??

    NO!

    MCCAIN / PALIN ON THE ATTACK WITH LIES, DISTORTIONS, THE PAST?????

    "DOGGONE IT, YOU BETCHA THEY ARE!"

    October 6, 2008 12:31 pm at 12:31 pm |
  12. sherry

    I think this country is headed toward a deep depression. It will be different than the depression long age. It is a different age with all the electronics we have today, but the American people will feel the crunch. We will not be able to borrow money, change jobs as readily to improve our financial situation and will have to watch every little penney we spend. Good times, at least for some time, will be a thing of the past.

    October 6, 2008 12:31 pm at 12:31 pm |
  13. Grandma for O

    With the reality of an economic depression, two wars, a healthcare crisis, what does the McCain camp focus on, Tabloid tactics.

    John McCain and Sarah Palin may want to start with an all out smear campaign that takes baseless claims, escalates them to falsehoods and presents them as truths....

    But I'm voting for a different direction and for my pocketbook. As my son would say, It's the economy stupid....

    October 6, 2008 12:32 pm at 12:32 pm |
  14. S. Boatman

    Thank You Captain Maverick! Your Super Deregulating Powers Have Causes Another Economic Crisis! . . . Your Application To Join The Hall Of Doom Has Been Approved!

    October 6, 2008 12:32 pm at 12:32 pm |
  15. Molly

    Economy is Very BAD – due to the corrupt Chicago style DEMS in office. Dodd – Bernie -Raines they are the ones that caused all this mess.
    The media needs to do their job and report the TRUTH/FACTS about obama and all his Radical "friends" . Every time the reports come out the obama gang cries Racist – we are sick of it!

    McCain/Palin – Best Team for our country.

    October 6, 2008 12:32 pm at 12:32 pm |
  16. Proud to be American

    Thanks to Bush and McBush (he voted high 90% on all of Bush policies) we are in a recession moving straight to a depression. God Forbids McSame getting into the office as we will be opening up soup kitchens for the "fundementals of America" yeah you and I average Joes making less then 250K a year.... can we sustain that .... NOT! Obama and Biden 2008!

    October 6, 2008 12:32 pm at 12:32 pm |
  17. the other jd

    Well it took a Dem to get us out of the last one, so I say
    "Go Obama, Baby, Go!"

    BTW was anyone else reminded of an obnoxious spoiled cheerleader when SP said "The chant is 'Drill, Baby, Drill'"?

    October 6, 2008 12:32 pm at 12:32 pm |
  18. bob in L.A.

    CALL IT WHAT YOU WANT- BUT MOST AMERICANS ARE PRETTY DEPRESSED RIGHT NOW. I DON'T THINK WE NEED AN OFFICIAL LABEL TO EXPLAIN OUR SITUATION

    October 6, 2008 12:33 pm at 12:33 pm |
  19. Linda from Prescott AZ

    VOTE OBAMA AND HE WILL HELP GET THIS COUNTRY TURNED AROUND.

    October 6, 2008 12:33 pm at 12:33 pm |
  20. Karen

    We already crashed head on! My 403b is down the tubes and all the repugs can do is sling garbage.

    They have no plan since they got us here in the first place & must think we're all stupid & will ignore the real issues in our personal lives.

    McCain chose Palin for no other reason than her gender, he & Palin think we women are as ignorant & dumb as her. We really really vote on issues and substance.

    Former Hillary Supporter, Now Obama Supporter

    October 6, 2008 12:33 pm at 12:33 pm |
  21. Chuck

    VERY BAD FOR THE REPUBLICANS AND JOHN MCCAIN

    October 6, 2008 12:33 pm at 12:33 pm |
  22. JIM...TX

    Well....DUH!!! The economy has been in a slide for some time all at the hands of our Republican WH. They can try and sugar coat it but theres no doubt we're just a heart beat away from another depression.

    October 6, 2008 12:33 pm at 12:33 pm |
  23. Independent for McCain

    How can we be good if someone we are going to elect wants to increase in TAX and support affirmative action based on race and quote, can someone tell me? MCCain wants to reduce tax.

    October 6, 2008 12:33 pm at 12:33 pm |
  24. Wake-up America

    To the McCain Campaign and the Republican Party:

    Shoot the Pit bull and Hang the Maverick for his dishonorable, disgrace to this Country. Then take a look at the rest of us TRUE AMERICANS and reflect what you have done to this country since 1995 where Republicans have had control of all the laws and policy making.

    Blame Democrats for the last 19 months if you will, but 22 years of corruption, corporate greed, financial malfeasance and deregulation will not be ignored. Especially the last 8 years!!!

    These campaign tack ticks are NOT the attributes of a true leader but those of a LOSER. America deserves better than this.

    WAKE-UP AMERICA. The only chance for change is Obama/Biden. At least a chance!!

    October 6, 2008 12:33 pm at 12:33 pm |
  25. Jim in Indiana

    Thanks W..I am loosing my home, my savings, and probably my job.
    Job well done!

    October 6, 2008 12:33 pm at 12:33 pm |
1 2 3 4 5 6 7 8 9 10 11