By Veronica Anderson
Despite the recent media frenzy resulting from September”s stock market dive, recent polls show that a majority of American consumers agree with Republican candidate Sen. John McCain”s assertion that the American economy is fundamentally strong.
Last month, American consumers received a shock when the U.S. treasury announced the need for a federal bailout of the U.S. banking system. The nation experienced a sharp drop in retail sales in September, followed by a worldwide stock market crisis, which caused many Americans to re-think their financial security.
However, with the arrival of a new president, Americans are hopeful.
The current Gallup polling shows that “80 percent of Americans do not believe that President Bush and his economic team can provide the leadership necessary to successfully address the nation”s economic problems,” which leaves quite a large space for the 2008 candidates to fill.
During the Oct. 7 televised presidential debate, McCain said “until we stabilize home values in America, we”re never going to start turning around and creating jobs and fixing our economy.”
“We”ve got to give some trust and confidence back to America,” McCain said.
Some voters, like Brian Voeks, a 23-year old junior from Lehi, have voiced concerns that stabilizing market values will require a rise in taxes.
McCain responded to the concerns of these voters during the third and final presidential debate on Oct. 15.
“Nobody likes taxes,” he said. “I would prefer that none of us had to pay taxes, including myself. But ultimately, we”ve got to pay for the core investments that make this economy strong and somebody”s got to do it.”
Regardless of probable tax increases, more and more voters seem to be responding to McCain”s message of trust. While the future of gas prices and government reassurance over credit availability is unknown, Republican voters seem to be digging in for the long haul.
“The so-called recession is just a part of the capitalist system; we just need to wait it out,” said Alex Braunberger, a 22-year-old from Sandy. “Besides, unemployment is down by three-tenths from what it was in ”96.”
