US Midterm Elections - the American economy

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Usually, the economy is the number one deciding issue for American voters as they go to the polls.

For the 2014 mid-term elections, the American economy is actually doing better than expected, although there are key underlying issues that worry voters.

Our Washington correspondent Priscilla Huff has a preview of how economic issues may impact the upcoming ballot in the United States.

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Campaigning in Rhode Island for local Democratic candidates, U.S. President Barack Obama played up how well the American economy is doing just days before the 2014 mid-term elections.

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"For the first time in more than six years, the unemployment rate is under six percent, (cheers) in the past six months, our economy has grown at its fastest pace in more than ten years."

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In a recent report, the broadest measure of economic activity - the gross domestic product - expanded at three-point-five percent in the third quarter - a health clip.
But that positive economic news is not trickling down to all Americans.

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We will keep coming to Capitol Hill until every worker in America has decent wages!

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Just days before the Midterm elections, hundreds of people took to the streets of Washington D.C., calling for a higher minimum wage. Fatima Jabbie works for Wal-Mart, the huge discount retailer.

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"I have kids in the house and it's hard to feed them with 8 dollars and 40 cents and it's hard for me to pay my rent."

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It’s an issue that’s playing well with voters, it’s high on President Obama’s agenda, and it’s also on the ballot in this year’s poll. Four Republican leaning states will be asking voters whether they support an increase in the minimum wage – and it’s expected to pass in all of them.
But the reason the wage hike is so popular may well be that despite a reduction in unemployment and an upturn in hiring, not everyone in the US is jumping up and down with excitement about the improvement in the economy.
Kenneth Simonson is the Chief Economist for the Associated General Contractors of America.

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"There are still a lot of people who haven’t got a job at all, or they are working fewer hours than they want, or they’re not working in the kind of field they have training and experience for. So there are a lot of mis-matches still in this economy."

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Trillions in debt, Obamacare, nearly 10 million Americans unemployed…

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For Republican candidates, such as Pat Roberts running for the U-S Senate to represent Kansas,
the political point they want to play up is the patchy nature of that recovery – good on paper but not being felt in practice –
And it’s working. A recent poll for ABC News showed that despite its recent gains, 7 out of 10 American rate the nation’s economy negatively, and only 28 per cent say it’s getting better.
If that discontent translates, as many predict, into more Republican power in Washington, particularly in the Senate, that could see looser rules for big business:
Rohan Williamson, is a Professor of Finance, at  Georgetown University Business School

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"I think if the Republicans are in control, we’ll probably see a lot less enforcement activity against large businesses. They’re typically more pro-business and more anti regulation, so I think if there is going to be some change in any serious way, it may be in the enforcement of existing regulation."

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But, the reality is....
what most voters are hoping for – whether they’re in a small town or a big business - is an end to the political gridlock here in Washington,
No matter the issue...the economy - foreign policy - immigration reform - health care - over and over again, voters are saying they want more compromise and less standing on political principle just to make a point from the U-S Congress and the White House.
Priscilla Huff, Washington

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