May 24, 2013

Is the Economy Saving Obama’s Approval Ratings?




NATE SILVER N.Y TIMES
Political coverage over the last week has focused on a series of stories that reflect negatively on the executive branch — but President Obama’s approval ratings have held steady. As of Monday, Mr. Obama’s Gallup approval rating was 49 percent — the same as it was, on average, in April. Mr. Obama’s Rasmussen Reports approval rating was 48 percent, not much changed from an average of 50 percent in April. Mr. Obama’s approval rating in a CNN poll published on Sunday was 53 percent, little different from 51 percent in their April survey. And in a Washington Post-ABC News poll, Mr. Obama’s approval rating was 51 percent, essentially unchanged from 50 percent in April.
There are a lot of theories as to why Mr. Obama’s approval ratings have been unchanged in the wake of these controversies, which some news accounts and many of Mr. Obama’s opponents are describing as scandals. But these analyses may proceed from the wrong premise if they assume that the stories have had no impact. It could be that the controversies are, in fact, putting some downward pressure on Mr. Obama’s approval ratings — but that the losses are offset by improved voter attitudes about the economy.

I first put forth this hypothesis on Sunday, but Jon Cohen and Dan Balz of The Washington Post have advanced some tangible evidence on its behalf. In the latest Washington Post survey, Mr. Obama’s approval rating on the economy is 48 percent — up from 44 percent in April. This follows a series of surveys showing that consumer confidence is at or near its highest point since Mr. Obama took office. The economic mood may have been lifted by two highly visible indicators — record-breaking stock prices and rebounding housing prices — along with a series of improved jobs reports.