October 6th, 2008
12:00 PM ET
1 year 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. Bob (Illinois)

    Investors should take a dose of tranquilizer and chill out for a bit. The current panic mentality is stupid and serves no purose.

    October 6, 2008 12:43 pm at 12:43 pm |
  2. Anonymous

    HOW'S THE INVESTIGATION GOING WITH PALIN! SHE'S ONLY BEEN THERE LESS THAN 2 YEARS AND ALREADY HAS ETHICAL ISSUES! VP MATERIAL! NOT!

    October 6, 2008 12:43 pm at 12:43 pm |
  3. David Hardy

    It increasingly seems that John McCain & Ms. Palin have nothing to say about how they propose to run this great country, and everything to say (exaggerations and fabrications mostly) about Barak Obama. That shows such a deplorable lack of good intention and a huge deficit of plans and ideas of how to bring back America's glory that has been so shamefully squandered over the past 8 years, and which looks more likely to continue under the McCain – Palin regime.

    October 6, 2008 12:43 pm at 12:43 pm |
  4. Joe Regis

    It always takes a Dem to fix the repubs mess in Washington. How do you call that if not irresponsible an administration that say deficit is nothing. You can spend your way out of a recesion. That is wrong all the time. 8 years is enough.

    Obama/biden 08/12.

    October 6, 2008 12:44 pm at 12:44 pm |
  5. Disgusted and Appalled

    "Keating Five" McCain has nothing to offer to solve our problems. But, then again, his corruption helped to cost the S&L crisis back then.

    October 6, 2008 12:44 pm at 12:44 pm |
  6. Rob

    That does appear where we are headed. The GOP and the De Regulation policies of McBush have brought us to the brink of destruction. And all that the Angry McCain and Ignorant Palin can do is give us lies and attack AD's about non issues.

    October 6, 2008 12:44 pm at 12:44 pm |
  7. Candy West Virginia

    John Mccain, One week before the economic crisis "The fundamentals of our economy are strong."

    October 6, 2008 12:44 pm at 12:44 pm |
  8. gwg

    If Obama wins he will focus on the past and not fix anything where as McCain will focus on the future and lead from the front. the choice is clear play the blame game of fix the problems. McCain has a history of reaching across the isle and finding solutions where as Obama has a history of playing the blame game and seeking recognition.

    We need someone to lead from the front not focus on the past.

    McCain/Palin

    October 6, 2008 12:44 pm at 12:44 pm |
  9. Dave, Central Illinois

    The real "idiots" are the Obamites who continue to worship their leader who is one of the radical Left that got us into this mess. As a communist organizer (oops, I mean community) Obama advised ACORN in Illinois on a lawsuite that forced banks to make risky home loans to those who could not afford it. That ruling was used in other suits that spread across other states. Fanny and Freddy bought those and, after years of this, the roof caved in. The Dems, led by old bathhouse Barney Frank, killed any attempts to regulate this.
    Look it up, Obamites.

    October 6, 2008 12:44 pm at 12:44 pm |
  10. Nelson Colorado Springs Co

    Yes!! another depression, unemployed will rise, banks will failed across the country. car dealer also. Everything should stop right now and get good acessment of the economy. to many loses end on the $700,00,000 bail out. Go Obama

    October 6, 2008 12:44 pm at 12:44 pm |
  11. Central Scruitinizer

    Just more icing on the cake for 8 "W"onderful years from the makers of the Iraq war , GWB!!!! BTW I hear the movie "W" is a laugh riot. Cant wait for someone to pick up on the MCCAIN campaign and do a sitcom. Oh someone sort of has.....Spin City

    October 6, 2008 12:44 pm at 12:44 pm |
  12. Palin: McCain's Parrot Without a Cracker and Quota With a Script

    I know ... Let's elect the clueless pseudopatriot and his ditzy secretary!

    October 6, 2008 12:44 pm at 12:44 pm |
  13. MM

    Except for John M Cain and Sarah Palin who do not like to look backward and therefore would not know what a depression was.

    October 6, 2008 12:44 pm at 12:44 pm |
  14. FL voter

    Depression? What's that? Our economy is strong? Is it not John McCain? No? Then why are you and your "pitbull" (chihuahua to me) trying to distract the public by advertising lies?

    Because you just don't care about our economy John. You're too busy with your $100M wife, your 13 cars, 9 mansions and overdosed prescription medicine.

    Obama/Biden 08

    October 6, 2008 12:44 pm at 12:44 pm |
  15. Mikey

    ... and McCain and Palin think it is more important to throw mud than to address our real problems.

    Send McCain back to the Senate so he can finish his career doing what he has been doing for the last 3 years – skipping most of the votes.

    And please send Palin back to Alaska, where the final post-mortem on what is left of her political career can be written. Palin combines all the worst characteristics of Bush, Cheney, and Dan Quayle into one really pathetic VP candidate.

    October 6, 2008 12:44 pm at 12:44 pm |
  16. OS

    OBVIOUSLY THIS IS WHAT HAPPENS IF YOU HAVE GOP RUNNING THE COUNTRY.

    EIGHT YEARS OF GOP REGIME HIGHLIGHTS ............

    FORECLOSURES
    MARKET CRASHING BELOW 10,000
    OVER 5,000 MILATRY LIVES LOST IN IRAQ AND AFGHANISTAN
    TENS OF THOUSANDS INNOCENT CIVILIAN KILLED IN IRAQ
    MAJOR BANKS DISAPPEARING
    SMALL BUSINESSES SHUTTING DOWN
    ~ELEVEN TRILLION DOLLARS IN DEBT
    400 BILLION IN DEFICIT
    HIGHEST UNEMPLOYMENT RATE AND GOING UP
    INCREASING OIL AND GAS PRICES
    THE LIST GOES ON................................

    AMERICANS AND THE WORLD WILL REMEMBER THIS ON NOVEMBER 4TH AND NOTHING ELSE.

    October 6, 2008 12:44 pm at 12:44 pm |
  17. Eric

    Good thing i already voted.

    October 6, 2008 12:44 pm at 12:44 pm |
  18. LIPSTICK DOES NO JUSTICE

    HOW'S THE INVESTIGATION GOING SARAH? CAN'T HIDE BEHIND YOUR LIPSTICK FOREVER.

    October 6, 2008 12:44 pm at 12:44 pm |
  19. CENSORED

    Haven't we had enough of a DIC* and a BUS* in office?

    October 6, 2008 12:45 pm at 12:45 pm |
  20. Ray Fisher

    When the Dow dropped below 10,000 today with all the ancillary activities ie. bailouts, bank failures, foreclosures, business failures, etc... along with employment/unemployment stats and inflation it adds up to the perfect economic storm, an Economic Depression. The only way America can contend with our poor economic status is to save all we can, pay our debts with cash, economize on everything, focus on family, friends and values and keep the American Dream alive. We musn't add mental depression to our economic depression as these are but challenges we have yet to meet. We must remember that problems are life-threatening but challenges can be overcome. Everyone please take this opportunity to appreciate our blessings and build a better economy and lives.

    October 6, 2008 12:45 pm at 12:45 pm |
  21. Republican Woman for Obama

    Well no wonder Obama has double digit leads in VIRGINIA....can you say LANDSLIDE???

    October 6, 2008 12:45 pm at 12:45 pm |
  22. Stef

    It took Ross Perot to help the Dems get Clinton elected. This time, the Repubs are giving it away to the Dems without the need for a Perot.

    If you Repubs would have nominated an honarable man 8 years ago, we wouldn't be stuck with the Obamanation getting the presidency this time.

    At least the Dems didn't give us Hillary as the choice this time... And don't worry, with the power hungry Dems like Pelosi in charge of congress, and a Dem getting the white house, it won't be long till the attacks on the second amendment and other liberal tactics remind Americans that the Dems are just as bad as the Repubs, only on different issues...

    George Washington was so smart to realize that pollitical parties are un-American and counter productive to a government of the people, for the people, by the people.

    October 6, 2008 12:45 pm at 12:45 pm |
  23. Lisa

    Yes, while the country is going into a depression you have John McCain and his Gomer Pyle in heels trying to take the focus off the economy and trying to smear Obama. That is great. Maybe John McCain has enough money that a depression won't hurt him but what about the rest of us. John McCain quit trying to distract the country with your lies and tall tales, STICK TO THE ISSUES, FOR ONCE!!!!!!!!!!!

    October 6, 2008 12:45 pm at 12:45 pm |
  24. Real Politics

    WELCOME TO AMERIMEXICO!

    Come visit Amerimexico, we have free healthcare and open borders for anyone and everyone.

    Burn the old U.S Flag in our streets it's so much fun!

    Throw Apple pie at the Statue of Liberty, c'mon folks even your kids will enjoy it.

    Tear up your green cards, and visa's at the Lincoln Memorial, you don't need them anymore anyway!

    Spit on the vietnam memorial, kick over the tombs of the fallen soldiers!

    Come to AmeriMexico, where captialism, patriotism, old-fashion American values no longer exist, where socialism is the new fad, become a part of a new generation, and a new society where we can at last celebrate the coming of the new age and we will reign the most powerful communist country in the world!

    BE LIKE OBAMA, BECOME A PART OF THE CULT THAT TOOK OVER THE FORMER U.S. OF A.

    October 6, 2008 12:45 pm at 12:45 pm |
  25. Lee-- Dallas, TX

    Sarah Palin: Old news, new mouth...

    October 6, 2008 12:45 pm at 12:45 pm |
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