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. Jim

    The latest Palin/ Mccain attacks on Obama have left me speechless, I mean how do you respond to such stupidity. If they should happen to win
    what will be there platform, Obama?

    October 6, 2008 12:48 pm at 12:48 pm |
  2. Rodriguez

    ...and what do we get from McCain? Only smears. I want to know how I'm going to pay my rent, put food on the table for my children. That's what I want to know Mr. McCain.

    October 6, 2008 12:48 pm at 12:48 pm |
  3. Todd

    Anericans were't paying attention. George Bush and Company will waltz out of the WhiteHouse in fine style. No one was guarding the hen house and the foxes cleaned up. If we're stupid enough to elect McCain and Company, then we deserve the hardships that will be coming.

    OBAMA&BIDEN

    October 6, 2008 12:48 pm at 12:48 pm |
  4. vjh

    I don't think we've hit rock bottom yet, but my thought is as long as Europe and Asia keep pumping ( aka investing) money into our economy, I don't think we'll see a depression. We will however experience a recession like none before.

    October 6, 2008 12:48 pm at 12:48 pm |
  5. Mike in California

    Ya think?

    October 6, 2008 12:48 pm at 12:48 pm |
  6. TKW- New Mexico

    No wonder John McDumb wants to change the subject, he and Caribou Barbie have no agenda, no plans, no ideas, no intellect, nothing that can help change the course for the future of America. Can we just vote today? Let's move election day to October 7th.

    Obama/Biden 08/12!

    October 6, 2008 12:48 pm at 12:48 pm |
  7. SteveJJ

    People, we are not headed for a depression. Your liberal Democrats will bail you out with government entitlements. Barney Frank and Chris Dodd led you here, they will show you the way home. The only way to overcome this mess is to abolish corporate taxes and lower or abandon capital gains taxes. Remember Mr. Obama wants to give 95% of you a tax break, but he forgot that 40% of that 95% don't pay taxes to begin with.

    October 6, 2008 12:48 pm at 12:48 pm |
  8. sumit in minneapolis

    we don't want another four years like this mess.

    October 6, 2008 12:48 pm at 12:48 pm |
  9. RSF- Los Angeles

    NOW THEY ARE SAYING WE'RE HEADING FOR DEPRESSION WHEN THE CURRENT ADMINISTRATION IS SAYING BEFORE THAT WE ARE NOT EVEN IN RECESSION....SOUNDS LIKE THE "FUNDAMENTALS OF OUR ECONOMY ARE STRONG".....WAKE UP PEOPLE! THE REPUBLICANS ARE COMPLETELY OUT OF TOUCH!!!

    October 6, 2008 12:48 pm at 12:48 pm |
  10. TRUTH

    We are in this mess, and the GOP want to talk about Paris Hilton, Britney Spears, and debunked lies. Economy is this country, and we will fall if the ecomony falls stupid! McCain, what happend to your pride, your honor? and Palin...just read more books.

    OBAMA/BIDEN 2008

    October 6, 2008 12:48 pm at 12:48 pm |
  11. Hello

    Why is the NY Times/CNN/MSNBC continuing to ignore McCain's "own Bill Ayers"?

    Sen. John McCain's relationship with G. Gordon Liddy.

    October 6, 2008 12:48 pm at 12:48 pm |
  12. Tony

    MCCAIN AND PALIN ARE NOW GOING TO REVERT TO THE PAST AS A LAST DITCH EFFORT TO TRY TO IMPROVE THEIR POLL NUMBERS.

    DUH! WON'T WORK GUYS! AMERICANS ARE NOT QUITE AS APATHETIC AND IGNORANT AS YOU BELIEVE US TO BE.

    COME NOVEMBER 4TH YOU WILL SEE JUST HOW INTELLIGENT THE VAST MAJORITY OF AMERICANS ARE WHEN THE ELECT OBAMA / BIDEN AS OUR PRESIDENT AND VICE PRESIDENT.

    DEAL WITH THAT FACT!

    October 6, 2008 12:48 pm at 12:48 pm |
  13. Andrew Kim

    I think a depression is iniment as long the stocks continue to dive, banks started to fail, and people are less confident about economy. If we pick McCain/Palin, then the circumstance would only get worse.He would like to deregulate the banks like the Bush Administration. If continue to deregulate the banks, then the bank's spending would be more erratic and would lead us further into darkness. I'm pretty confident about Obama/Biden because he has a good strategy about recovering the economy. I have good faith that they would try everything they can to get the recover the economy, which it would take time. All we can hope is to hang on and hope for the best.

    October 6, 2008 12:49 pm at 12:49 pm |
  14. Mikey

    Perhaps Sarah would be better off explaining where she claimed the per diem she received for not being in the State Capital for most of the business days of the year on her 2007 tax return. I do not see any evidence she did.

    Also, did she have earnings from her mayoral gig in 2006? There is no W-2, nor any income reflected on her 2006 return.

    October 6, 2008 12:49 pm at 12:49 pm |
  15. Nidwaldner

    During the debate surrounding each round of "stimulus" checks, I begged my congressional representatives to spend the money on producing real jobs for Americans instead. You know things like actually investing in our crumbling infrastructure, education, and research and development. Things that are long-term economic investments and things that Republicans hate spending money because they'd rather give tax breaks for trickle down that has never worked. Well the rooster has come home to roost now. So sad. So instead we spend the hundreds and billions on other things and no money will be left for the long-term recovery.

    October 6, 2008 12:49 pm at 12:49 pm |
  16. Abby

    Medicare would be cut under McCain

    Obama 08

    October 6, 2008 12:49 pm at 12:49 pm |
  17. Sue, OH

    And all that these two can talk about is a man who now is a professor at a Chicage University! I am old enough to remember John MCain a a POW and what he said about the USA to the Viet Cong. Barack Obama was 8 repeat , 8 years old when Ayers did as he did. And we all know how corrupt the government is and Ayers was not guilty of ANYTHING. If anybody in THIS government said the sun was shining, I would have to go see for myself before I would believe anything they said. We all know how they lie, so the Palin/McCain crew had better check the facts before they repeat anything. And after they dsay all that they do about somebody else, don't forget to go to church.

    October 6, 2008 12:49 pm at 12:49 pm |
  18. redhead from Toronto

    Palin just accused Sen. Obama of being "less than truthful" . Talk about the kettle to the pot. LMHO

    October 6, 2008 12:49 pm at 12:49 pm |
  19. Linda, NC

    Sometime I wonder what part of my American values does McCain/Palin team share?

    They just dont want to understand issues... I have nothing against Pitbull Hockey Mom or a Gov with an accent, but she just doesnt get what it means to loose a job or what it means to pay higher taxes when as a country we are not growing.

    I feel very safe with Obama... he is a true American and he doesnt loose focus of the issues. At the end of the day we need a someone who can get the job done and that is Obama.

    Obama/Biden 08

    October 6, 2008 12:49 pm at 12:49 pm |
  20. Mark in Colorado

    It will be interesting to see if people who are suffering in Colorado stick with what got them here or will they step in a new direction.
    GO OBAMA!

    October 6, 2008 12:49 pm at 12:49 pm |
  21. GW

    I think we are already in a depression. And the unemployment numbers are gonna get worse. That is why McIdiot and Sarah Dunce are getting dirty. That and they are losing any chance of a comeback because Barack is leading in most battleground states. or the ones that matter anyway. Sick of the GOP. Grand OLD Party.

    October 6, 2008 12:49 pm at 12:49 pm |
  22. David Goldman for OBAMA

    ELECT GREEDY IMORAL MORONS

    & GET CATASTROPHIC RESULTS.

    FOLKS THE WORST IS YET TO COME.

    WE NEED TO STOP SENDING TRUCK

    LOADS OF $100 BILLS TO IRAQ.

    OUR ECONOMY HAS ALWAYS BEEN

    & IS OUR ONLY NATIONAL SECURITY.

    BUSH, CHANEY & MCBUSH SHOULD BE IN JAIL.

    October 6, 2008 12:50 pm at 12:50 pm |
  23. yes, I think it's true

    I don't know about the rest of you, but we are in shut down mode, money wise. We can hardly pay for college for our oldest, and god knows what is happening with the 401k's

    October 6, 2008 12:50 pm at 12:50 pm |
  24. Greg in MN

    Funny how the economy keeps popping back up in people's mind ain't it John McCain??

    Maybe if you had studied and learned about it (like you said you needed to) then you might have something constructive to say on the matter. Instead you run away from it and call Obama a "bad person".

    You are a coward John McCain.

    Once a hero, does not mean always a hero.

    October 6, 2008 12:50 pm at 12:50 pm |
  25. ez

    Early voting is the way to go!

    Registered Republican voted for Obama/Biden 08

    October 6, 2008 12:50 pm at 12:50 pm |
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