Market Overview

Biggest Threat To The U.S. Economy? The Presidential Election

Biggest Threat To The U.S. Economy? The Presidential Election

Both Hillary Clinton and Donald Trump have been campaigning hard to convince Americans that they can fix the U.S. economy and “make America great again” with their respective policy agendas. Ironically, a new survey from Bankrate indicates that a majority of Americans see the election as the primary threat to the economy.

Bankrate asked Americans which issue is most likely to derail the economy in the next six months, and 61 percent of respondents said the election. Terrorism came in a distant second at only 12 percent.

Election-related economic fears are shared by Americans of all political persuasions. At least 60 percent of Democrats, Republicans and Independents named the election as their biggest near-term economic fear. Republicans (68 percent) were most concerned.

As the election approaches, Bankrate has also found that Americans are feeling less secure about their finances. The Bankrate Financial Security Index (FSI) fell to 99.9 in September, its lowest level since May 2014.

University of Southern California professor Sherry Jeffe has a simple explanation for why Americans are most worried about the election.

“It’s just sucking up all the oxygen in the media,” Jeffe said. “Donald Trump is more fun to cover than the stock market.”

Related Link: Martin Shkreli: Hillary Clinton's Health Is 'Much Ado About Nothing'

In other words, the number of negative news headlines concerning the election far exceed the number of negative headlines about other economic issues, and the attitudes of Americans reflect that lopsided coverage.

A new LA Times general election poll out on Tuesday puts Trump ahead by 3 percent, while an NBC News poll including potential third-party candidates puts Clinton ahead by 2 percent.

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Posted-In: 2016 presidential election Bankrate Bankrate Financial Security IndexPolitics Top Stories Economics Media General Best of Benzinga


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