Abstract
Questions that appear objective often have a subjective component. Responses to objective questions might be affected by a person’s race, ideology and class. Objective answers might also change depending upon the context in which the questions are asked. In this study we concentrate on how people report economic conditions of the country as well as their own financial situation. We use three data series on perceptions of the economy (from Gallup, PEW, and ABC/W Post) starting before the Great Recession of 2008, through the election of Barack Obama as President and ending at the end of his first term in 2012 (approximately 45 surveys). Before the election of Obama, blacks were more likely than whites to say the economy was doing poorly. This racial difference switched with the election of 2008. There was less switching on evaluating a person’s own financial situation. We also note how these perceptions were affected by party identification and income.
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