Interesting observation from Mike Panzner. He notes that people self identified by party have very different basis for how they determine their own outlook: 

While not scientific by any means, a quick read of the various sub-indices that comprise the ABC News/Washington Post weekly poll of consumer confidence reveals an interesting insight about the differences between Democrats and Republicans.
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Demrepcc

chart courtesy of Mike Panzner

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Based on an visual analysis of the data going back to June 1990, it appears that Republicans’ attitudes about their financial wellbeing are most closely aligned with how they feel about personal finances in general. Democrats’ attitudes, in contrast, seem most closely aligned with how people feel about the state of the economy.

While the difference is subtle, that seems to jibe with anecdotal evidence about the varying perspectives of those who favor the red as opposed to those who favor the blue. For example, it makes sense that Democrats, traditionally seen as members of the working class, would be more attuned to changes in the economy because of its impact on the job market.

Keep this in mind when the next weekly poll of consumer confidence comes out today — it might make for some interesting reading.
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Category: Economy, Politics

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8 Responses to “Financial Sentiment by Party”

  1. Super Bear says:

    Both parties carry political baggage – evangelists and labor unions. The repubs are now controlled by the neo conservatives who call taxes shifted to the next generations a tax cut and who are willing to waste nearly a half $trillion abusing Iraq.

    The real problem is that our voters think at the third grade level – just look at the commercials directed at them. We end up with leaders who have a common sense IQ of 75 and a destructive set of priorities. I don’t see anything that will improve the situation. Am I a super bear or what?

  2. Damian says:

    So republicans are the party of self-interest, and democrats are the party of empathy? Interesting….

    Damian
    (a registered independent who’s voted for both republicans and democrats)

  3. DJ says:

    Both parties are nothing but a joke. A joke with a lot of financial backing.
    A huge problem is that instead of performing public service the elected officials spend all their effort on keeping their job. What’s the benefit in that? (Along with the poor decision skills of the voters)

    In response to Damian I’d say that republican are more self-dependent, and the democrats aren’t so much empathetic but rather want the overall economy well so someone will be there to take care of them so they don’t have to.

    (Independent, here, as well)

  4. Bruce says:

    Before I read through the comments I was about to post one similar to Damian’s.

    Instead I will respond to DJ:

    If being self dependent means valuing regulatory regimes that allow externalizations of cost onto others at the expense of the whole, then yes, republicans might be thought of as self dependent.

    It’s clear that the founders of the USA believed in a system that would prevent minority or even majority interests from being able to take advantage of shifting costs to other segments of the population.

    A rising tide lifts all boats; what’s wrong with wanting the overall economy to be healthy?

  5. Todd says:

    The message I take from this is that Republicans want to run their own lives. Democrats want to run everyones’ life.

  6. Danielle says:

    Since Bush has cut taxes but keeps on making government bigger by spending like there’s no tomorrow, the reality is that the Republicans have been running everones’s life to call themselves self-dependant.

  7. Todd says:

    “People whose lives are barren and insecure seem to show a greater willingness to obey than people who are self-sufficient and self-confident. To the frustrated, freedom from responsibility is more attractive than freedom from restraint. They are eager to barter their independence for relief of the burdens of willing, deciding and being responsible for inevitable failure. They willingly abdicate the directing of their lives to those who want to plan, command and shoulder all responsibility.”
    - Eric Hoffer

    That man knew his Democrats.

  8. Dan says:

    I believe Republicans favor a distribution of wealth between the poorest and the richest peoples, and our Republican run government is causing the middle class to shrink every year. They are not going into the ritch category. The prosperity of few is being favored over the prosperity of many. The bottom line is if you don’t make over 200,000 a year to receive Bush’s tax credits or you don’t own a cooperate business, it doesn’t pay to be a Republican.