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Sinking economy distresses voters

Poll says financial meltdown No. 1 issue













Bob Hechter's Oak World furniture store on East Flamingo Road flourished under the Clinton administration and is going out of business under the Bush administration.

That's the big reason why he's looking for a change on Capitol Hill come November.


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  • Like 71 percent of respondents polled by the Review-Journal, Hechter feels that the economy is the most important issue in the presidential race.

    He lays the blame for the country's financial meltdown at the feet of President Bush and the government for not acting swiftly and comprehensively in the aftermath of the Enron mess.

    "They should have put in the necessary measures to make sure this didn't happen again," Hechter said Friday as he prepared for his clearance sale after 26 years in business. "It happened again and again with AIG and Merrill Lynch. Now with a worse economy in the next four years, this is an easy way out for these companies that go bankrupt."

    The poll, conducted by Mason-Dixon Polling and Research, found that the war in Iraq and national security issues lagged far behind the economy at 8 percent. Further, 85 percent of registered Democrats cited the economy as the top issue, compared with 59 percent of Republicans.

    The economy has become more of a concern since August when 44 percent of respondents named it as the most important issue, said Brad Coker, managing director of Mason-Dixon in Florida.

    "Sure it's the economy. We have crashed," said Terence Dickinson, a retired lawyer. "You've got to understand the magnitude of this situation. Look at GM. I'm from Detroit. It wasn't just what's good for GM is good for me. Understand, they were once the largest company in the world. There's not a factory left in the city of Detroit."

    When asked who they blame for allowing the current economic situation to develop, 40 percent pointed to Congress and the Democrats, while 38 percent cited Bush and the Republicans. Fifteen percent said "both," even though that choice wasn't read to them by pollsters.

    "People said they couldn't blame one or the other, so they blamed both," Coker said. "It splits mostly along party lines. Republicans blame Congress and Democrats blame Bush."

    Forty percent of respondents felt lending practices at government-backed Fannie Mae and Freddie Mac were most responsible for the current economic situation, as opposed to 24 percent who blamed Wall Street banks and brokerages that made risky investments.

    Coker found it particularly interesting that among undecided voters, 63 percent pointed to Fannie Mae and 16 percent pointed to Wall Street. Again, 18 percent said "both."

    "(John) McCain's got an opportunity with undecided voters, that this was Freddie Mac and Fannie Mae, a matter that the Democrats bumbled," Coker said.

    Nine percent of Democrats and 7 percent of Republicans said the war in Iraq was the most important issue in casting their vote. National security and terrorism was cited by 17 percent of Republicans and zero percent of Democrats.

    By far, the U.S. economy and rising unemployment will be the major issues in the presidential campaign, said Keith Schwer, economist at University of Nevada, Las Vegas. Losses associated with the stock market are affecting everyone's pensions and now there's increasing concern about jobs.

    "The major challenge ahead will be to come back and find the right amount of regulation," Schwer said. "One of the problems was that things got out of control. So the next administration will have to rethink particularly the question of how to regulate financial markets."

    Schwer said historically it takes at least three quarters to adjust to financial meltdowns and a lot will have to take place with "readjustments."

    "It's very clear the old way of doing things didn't work," he said.

    Certainly, the housing woes have buried Hechter. People aren't buying furniture when they're losing their homes.

    "Because of the economy faltering, not so much the economy, but housing and mortgage, which is not the fault of the president, it's put a real hurt on the furniture industry," Hechter said. "My product just is not needed at this second by every person in Las Vegas. Other businesses are doing well. My buddy owns a gun store. Check loans are doing double their business."

    Hechter said he can't comment on which presidential candidate he trusts to handle the economy, but he does think the Democrats can do a lot better job than Republicans.

    "As for the pick," he said, "the president can't run the country by himself. I think they proved it when Bill Clinton was at the helm from 1992 to 2000. It's been a downward spiral since. I told my customers I didn't cause this mess and I don't have the answer. It's strictly a business decision."

    Asked how confident they were that government intervention would help improve the economy over the long term, 5 percent said they were very confident; 37 percent said somewhat confident; 25 percent said not too confident; and 30 percent said not confident.

    Paul Kincaid, spokesman for the Nevada Democratic Party, said we're seeing the "trickle-down" economics created by Republicans, including deregulation of financial institutions that led to this credit crunch and increased housing assessments that have left people upside down on their mortgage.

    Tax cuts for the middle class proposed by Democratic candidate Barrack Obama is the first step in helping people throughout the country get back on their feet, Kincaid said.

    It could also spur travel to Las Vegas, which has seen a 7 percent decline in gaming revenue this year and 1.5 percent decline in visitors. Obama has campaigned on tax cuts in the past and never delivered with any significant legislation, responded Rick Gorka, regional spokesman for Republican candidate McCain.

    Another big difference, he said, is that Obama wants to keep the U.S. corporate income tax at 35 percent, the second-highest rate in the world, while McCain wants to cut it to 25 percent.

    "John McCain actually has a record of creating a pro-growth, pro-jobs economy," Gorka said.

    A total of 625 registered Nevada voters were interviewed Oct. 8-9 by Mason-Dixon, including 415 in Clark County. There were 305 men and 320 women. The margin of error is 4 percentage points.

    Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.

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    Report abuse

    craigsimpson wrote on October 12, 2008 12:31 AM: McCain supported the deregulation of America's financial structure and now we have caused the world's biggest financial meltdown.

    And now this idiot wants to run America! I DON'T THINK SO!!!!!

    When you lose your job or your house, you have McCain to thank.

    Stand Up America! We can't afford another 4 years of McBush!


    Report abuse

    parto wrote on October 11, 2008 11:28 PM: woods fund

    Do you think the Woods of the woods fund support for president?

    John McCain

    SO people who supports terrorist support John McCain

    Also

    Don't you think the American People have aright to know what the Navy Psychological report on John McCain says?
    I think we have a right to know if he suffers from Post Traumatic Stress syndrom.

    Irrational behavior , Anger talking about events that caused him to have PTS in stressful situation are all symptoms of PTS and behavior we have seen in McCain.

    I would also like him to explain why he pushed so hard to normalize relation with Vietnam once he was elected to congress.
    It doesn't seem like a logical thing for a guy who was tortured to do.


    Report abuse

    jbimrose@gmail.com wrote on October 11, 2008 10:55 PM: And McCains plans are................

    I know you all love to attempt to insult me, but IT'S NOT WORKING.


    Report abuse

    Hmmmm wrote on October 11, 2008 10:22 PM: 6) Hamas is a Sunni Muslim terrorist group (Al Qaeda is also a Sunni Muslim terrorist group). According to The New York Times, ( “On McCain, Obama and a Hamas Link” by Larry Rohter, May 10 2008), Hamas supports Obama:

    (Quote begin)
    The McCain-Obama dispute about Hamas began last month, after Ahmed Yousef, a political adviser to the group’s leadership in Gaza, made complimentary remarks about Mr. Obama in an interview with WABC radio in New York. After initially complaining that “everybody tries to sound like he is a friend of Israel” when out on the campaign trail, including Mr. Obama, Mr. Yousef shifted tone.

    “We like Mr. Obama,” Mr. Yousef said, “and we hope that he will win the election.”
    (quote end)


    Report abuse

    Hmmmm wrote on October 11, 2008 10:22 PM: 5.b.) When Khalidi left Chicago to go to New York, Ayers and Obama attended and paid tribute to him (from the same Los Angeles Times article of April 10 2008):

    (quote begin)
    A special tribute came from Khalidi's friend and frequent dinner companion, the young state Sen. Barack Obama. Speaking to the crowd, Obama reminisced about meals prepared by Khalidi's wife, Mona, and conversations that had challenged his thinking.” His many talks with the Khalidis, Obama said, had been "consistent reminders to me of my own blind spots and my own biases. . . . It's for that reason that I'm hoping that, for many years to come, we continue that conversation -- a conversation that is necessary not just around Mona and Rashid's dinner table," but around "this entire world."

    At Khalidi's going-away party in 2003, the scholar lavished praise on Obama, telling the mostly Palestinian American crowd that the state senator deserved their help in winning a U.S. Senate seat. "You will not have a better senator under any circumstances," Khalidi said.
    (quote end)


    Report abuse

    Hmmmm wrote on October 11, 2008 10:21 PM: 4) What is Ayers’ relationship to Obama?
    Together they simultaneously served on the board of the Woods Fund of Chicago when it gave at least $40,000 to Khalidi’s Arab American Action Network. (Source: Los Angeles Times , “Allies of Palestinians see a friend in Barack Obama” By Peter Wallsten, Los Angeles Times Staff Writer April 10, 2008:“)


    5) What is Khalidi’s relationship to Obama?
    5.a.) From Los Angeles Times “Allies of Palestinians see a friend in Barack Obama” By Peter Wallsten, Los Angeles Times Staff Writer April 10, 2008:“) : “ In 2000, the Khalidis held a fundraiser for Obama's unsuccessful congressional bid. The next year, a social service group whose board was headed by Mona Khalidi received a $40,000 grant from a local charity, the Woods Fund of Chicago, when Obama served on the fund's board of directors.”


    Report abuse

    Hmmmm wrote on October 11, 2008 10:20 PM:
    1) Who is Bill Ayers?
    The New York Times (“No Regrets for a Love Of Explosives; In a Memoir of Sorts, a War Protester Talks of Life With the Weathermen“, by Dinitia Smith, September 11, 2001) states:

    (quote begin)
    ''I don't regret setting bombs,'' Bill Ayers said. ''I feel we didn't do enough.'' Mr. Ayers, who spent the 1970's as a fugitive in the Weather Underground, was sitting in the kitchen of his big turn-of-the-19th-century stone house in the Hyde Park district of Chicago….. [Ayers] writes that he participated in the bombings of New York City Police Headquarters in 1970, of the Capitol building in 1971, the Pentagon in 1972...Mr. Ayers, who in 1970 was said to have summed up the Weatherman philosophy as: ''Kill all the rich people. Break up their cars and apartments. Bring the revolution home, kill your parents, that's where it's really at”….
    (quote end)

    2) Who is Rashid Khalidi?
    An article in the New York Times ( “Ultimate goals of the attack are assessed differently from the two sides” by Thomas Friedman in June 9, 1982) describes Rashid Khalidi as the “director of the Palestinian press agency, Wafa.”

    Wafa was the press agency under the Palestinian Liberation Organization (considered a terrorist group back in 1982 when the Friedman article was written). Khalidi is also a co-founder the Arab American Action Network

    3) What is Khalidi’s relationship to Ayers?
    In Khalidi’s book “Resurrecting Empire” (published in 2005), Khalidi pays an acknowledgement to Ayers: : “First, chronologically and in other ways, comes Bill Ayers.…Bill was particularly generous in letting me use his family’s dining room table to do some writing for the project. "


    Report abuse

    THE BILL MAHER SHOW wrote on October 11, 2008 10:18 PM: ALL YOU MINDLESS LIBERAL ZOMBIE OBAMA SHEEP BE SURE TO TUNE IN TONIGHT FOR THIS WEEKS LAME TALKING POINTS!


    Report abuse

    patrick (AKA mike, AKA frankie) wrote on October 11, 2008 10:17 PM: I love my new girlfriend Jen.



    BUT SHE'S NO BARACK! WHO IS!


    Report abuse

    patrick (AKA mike, AKA frankie) wrote on October 11, 2008 10:16 PM: I love my new girlfriend Jen.

    BUT SHE'S NO BARACK! WHO IS!


    Read All Comments