Economic fears give Obama clear lead in poll

Washington: Turmoil in the financial industry and growing pessimism about the economy have altered the shape of the presidential race, giving Democratic nominee Barack Obama the first clear lead of the general-election campaign over Republican John McCain, according to the latest Washington Post-ABC News national poll.

Just 9 per cent of those surveyed rated the economy as good or excellent, the first time that number has been in single digits since the days just before the 1992 election.

Just 14 per cent said the country is heading in the right direction, equalling the record low on that question in polls dating back to 1973.

More voters trust Obama to deal with the economy, and he currently has a big edge as the candidate who is more in tune with the economic problems Americans now face.

He also has a double-digit advantage on handling the current problems on Wall Street and, as a result, there has been a rise in his overall support.

The poll found that, among likely voters, Obama now leads McCain by 52 per cent to 43 per cent. Two weeks ago, in the days immediately following the Republican National Convention, the race was essentially even, with McCain at 49 per cent and Obama at 47 per cent.

Poll perspective

Neither of the previous two Democratic nominees recorded support above 50 per cent in the same pre-election polls.

Last week's near-meltdown in the financial markets and the subsequent debate in Washington over a proposed government bailout of troubled financial institutions have made the economy even more important in the minds of voters. Fully 50 per cent called the economy and jobs the single most important issue that will determine their vote.