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

CNN POLL: Majority think country headed for depression


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. Jeanine G

    Know what helped the last Great Depression?

    A Democrat in the White House.

    October 6, 2008 12:36 pm at 12:36 pm |
  2. Tired of the Lies

    Here is the answer to the age-old question: to regulate or deregulate.

    Does regulation slow down economic growth some? You betcha.

    But it stabilizes the economy, keeps it from crashing.

    Thanks, Republicans, for all you've done.


    October 6, 2008 12:36 pm at 12:36 pm |
  3. cmc

    Thanks GW and McCain, I guess if you are rich, the economy is "fundamentally strong" you betcha...............

    October 6, 2008 12:36 pm at 12:36 pm |
  4. I can see Russia

    The idea that we could have Grandpa and his attack dog in the White House because this nation is too racist to elect a brilliant black man with an actual plan makes me depressed!

    October 6, 2008 12:36 pm at 12:36 pm |
  5. Bruce

    Hay that is just like HISTORY it was the REPUBs that got us into the LAST GREAT DEPRESSION

    October 6, 2008 12:36 pm at 12:36 pm |
  6. Watermann

    Whatever you may call it, all you desperately need is a President and his administration who is modern, young, intelligent, smart, innovative, is thinking forward. has a good judgement, does not have a bad temper, knows about modern ways of communication, is prepared to listen to good advisers and, last but not least, seems to be honest and has a terrific background in his family.

    October 6, 2008 12:36 pm at 12:36 pm |
  7. ines

    If McCain gets elected – COUNT ON A DEPRESSION.

    People use your vote wisely. Our savings are evaporating by the minute.

    October 6, 2008 12:37 pm at 12:37 pm |
  8. J roll

    And all MCCain wants to do is win an election. Do we really want someone who helped in the last economic fiasco with the the S&L debacle. HE says economics are not his strong suit and there's the proof.

    October 6, 2008 12:37 pm at 12:37 pm |
  9. Kara

    It's only going to get worse with McCain and Palin. We woke up way too late.

    October 6, 2008 12:37 pm at 12:37 pm |

    We need a person with a lot of experience at this time to lead the country!

    We cannot afford to take a risk on a newcomer like Obama! He has no experience with the economy, certainly no more than McCain. So what are we doing electing a good speech giver when we desperately need a real leader who can step in and use his many years of experience in politics and Washington to get the job done as quickly as possible.

    October 6, 2008 12:37 pm at 12:37 pm |
  11. Jack

    IF obama ever gets into office we will really be in BAD shape.
    WHO will pay for all these "free" programs???
    Vote McCain/Palin – a Team we can TRUST

    October 6, 2008 12:37 pm at 12:37 pm |
  12. elm

    It is the Republican's policies of the last 8 years that caused this. John McCain is more of the same.

    Run, run, hide, hide, distract here... Look Haley's Comet over there....

    McCain and Palin are running from the American Public and they both are a farce.

    Do you really want the disoriented McCain as President? Years in a POW camp is bound to leave a few screws loose. Remember the movie Manchurian Candidate. Has he published any medical or psychological records?

    Know-nothing Palin isn't much better. Her last interview was a joke! Her debate was just a litany of memorized talking points that she regurgitated even if they didn’t answer the question.

    What about her witch doctor minister exorcising her and driving witches out?

    What about unclaimed income for per deim. Paid to stay home... how corrupt can you get.

    What about troopergate?

    By the way, see if you can find John McCain's honesty and integrety while you are looking for yours!

    America wake up.

    October 6, 2008 12:37 pm at 12:37 pm |
  13. Independent for McCain

    Barack Hussein Obam wants to raise tax!! that it

    October 6, 2008 12:37 pm at 12:37 pm |
  14. repubican for obama

    we are already in a depression!! thanks to Bush/Mccain

    it time to turn the page and it's time to move let let victory carry us to the old america we are all use to.

    America lets roll!

    OBAMA/BIDEN 2008

    October 6, 2008 12:37 pm at 12:37 pm |
  15. Make-Believe Maverick

    "The fundamentals of our ecomony are strong"

    October 6, 2008 12:38 pm at 12:38 pm |
  16. Phil Newton from Murphy, Oregon

    The GOP looted the economy.

    We are done.

    October 6, 2008 12:38 pm at 12:38 pm |
  17. John McCain HAS LOST ALL HONOR

    John McCain Needs to come CLEAN about the KEATING 5 Scandel. More Lies and LACK of TRANSPARENCY from John McCain. Sarah Palin needs to come CLEAN about the TROOPER scandel. These two have no room to "throw mud". DISCRACEFUL.

    October 6, 2008 12:38 pm at 12:38 pm |
  18. Abby

    That’s why we need the very well educated Harvard guy to try to figure it out not Dumb and Dumber. ( call me an elitist if you want to but I want an elite to be at the drivers seat)

    Obama 08 Because knowledge matters.

    October 6, 2008 12:38 pm at 12:38 pm |
  19. Veteran for Obama

    Its no longer trickle down but pain trickling up.

    Barack/Biden 08

    October 6, 2008 12:38 pm at 12:38 pm |
  20. Tom Swift, Shopton USA

    I'll tell you why people feel like we are headed for a depression & why there is no faith in the economy...

    The leaders of this country just handed $ 700,000,000,000.00 to the same crooks & morons that got us into this mess. That is the same as handing over a $ 700,000,000,000.00 prize for being incompentent.

    What the people of this country needs to see is a bunch of CEO's making the perp walk to court. And a bunch of other incompentent execs headed out the door with their stuff in a cardboard box.

    $ 700,000,000,000.00 to the people that got us into this mess & not one head rolling. That is supposed to instill confidence in the future ??


    October 6, 2008 12:38 pm at 12:38 pm |
  21. disgruntled voter

    It's amazing to me that you people keep blaming Mccain/Palin for this economic failure. Obviously you cannot read and comprehend what you are told by credible sources. Have you NOT been listening to the proof that Obama and his buddies participated in this mortgage meltdown? Do you NOT hear Obama on television saying we HAVE to save the children of Africa? Do you NOT realize that you are headed for a larger fleecing than you can imagine if OBAMA gets into office? Whatever you're smoking..you'd better have a large supply because we are totally destroyed as country if Obama gets his hands on our helm!

    October 6, 2008 12:38 pm at 12:38 pm |
  22. MemeForObama

    STUPID palin wants to attack Obama while the market is crashing right before our eyes. The question is what and who can make thing better than the GOP had done in the last eight years? I dont see mccain and his group addressing the issues except some stupid attack that has nothing to do with what am going through today.

    Vote Obama/Biden-The GOP cant relate to the AVERAGE AMERICAN-That's a FACT

    October 6, 2008 12:38 pm at 12:38 pm |
  23. M - VA

    I don't understand how McCain/Palin can just ignore this HUGE Crisis we are in!!!
    Definitely not suitable to run this country!
    if any other major crisis we get in future,,, what are they gonna do... just ignore it?!

    OBAMA/ BIDEN 08~!

    October 6, 2008 12:38 pm at 12:38 pm |
  24. JohnWinNC

    Like the economy, Senator McCain would not know the truth if it bit him. Everything he attempts to accuse Obama of is even more true about McCain/Palin: Wright (vs. Hagee, Parsley, and a Witch Doctor) – Ayers (vs. Keating, Nixon, and Bush) – "Celebrity" (vs. McCain's VP choice). This kind of double-talk, double-standard, double-dealing, etc., in the words of Daffy Duck, is "dispicable!" I can not believe McCain has "approved" these measures. I feel like I am watching a Loony Toons campaign!

    October 6, 2008 12:39 pm at 12:39 pm |
  25. Mandy

    I think I'll stuff my money into an old sock and bury in the backyard. It will be safer there.

    October 6, 2008 12:39 pm at 12:39 pm |
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