Twenty-six percent (26%) of voters believe their personal finances are getting better while another 26% say their finances are getting worse. A Political IQ survey found that 45% believe their personal finances are staying about the same and 3% are not sure.
This survey was conducted last Thursday through Saturday, following Election Day. It shows a slight decline in optimism compared to a pre-election survey when 29% said better and 26% said worse. The decline comes almost entirely from Republicans. Prior to the election, 45% of GOP voters believed their finances were getting better. That fell to 36% after the election.
There was little change among Democrats and Independents. However, that could change.
Typically, Republicans are more upbeat about the economy when a Republican is in the White House and Democrats more optimistic when a Democrat is president. This particular survey was conducted after the election but before Joe Biden was declared the winner of 270 Electoral College votes. At the time, the survey found that just 49% believed Biden was the winner.
Based upon historical trends, therefore, it would not be surprising to see confidence of Democrats increase as it becomes more likely that Biden will take office. At the same time, the economic confidence of Republicans could fall further. We will conduct another survey on this topic in the coming days.
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Note: Neither Scott Rasmussen, ScottRasmussen.com, nor RMG Research, Inc. have any affiliation with Rasmussen Reports. While Scott Rasmussen founded that firm, he left more than seven years ago and has had no involvement since that time.
Methodology
The survey of 1,200 Registered Voters was conducted by Scott Rasmussen using a mixed mode approach from November 5-7, 2020. Field work for the survey was conducted by RMG Research, Inc. Most respondents were contacted online or via text while 168 were contacted using automated phone polling techniques. Online respondents were selected from a list of Registered Voters and through a process of Random Digital Engagement. Certain quotas were applied to the larger sample and lightly weighted by geography, gender, age, race, education, and political party to reasonably reflect the nation’s population of Registered Voters. Other variables were reviewed to ensure that the final sample is representative of that population. The sample included 1,052 respondents who say they voted in Election 2020. Of that group, 51% voted for Joe Biden and 46% for Donald Trump.
