America May Not Yet Be Blaming The President For The Economy

June 07, 2012, 12:00 PM GMT+0

(Week of 6/2/2012) The upcoming presidential campaign will clearly center on the economy, the issue that is by far the most frequently chosen as the country’s most important. But while a poor economy usually hurts the incumbent, many Americans may not yet be ready to hold Barack Obama completely responsible for poor economic conditions. In the latest Economist/YouGov Poll, 42% say he should receive a great deal or a lot of the blame for recent poor economic conditions, but even more hold his predecessor, President George W. Bush, to blame.

Those percentages are only a little changed from a month ago, when 40% blamed the current President, and 54% held his predecessor responsible. When it comes to judging the President’s overall economic performance, 42% approve while 51% do not. His overall approval rating remains in the low 40s.

Far more blame Wall Street bankers than blame either President Bush or Obama, echoing some of the negative findings about business in last week’s poll. Two-thirds of Americans blame Wall Street a great deal or a lot for poor economic conditions.

Despite the bad economic news, President Obama continues to maintain the electoral edge he has held in most recent Economist/YouGov polls. This week, the President leads challenger Mitt Romney 47%-42%.