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After Nightly Debates, Voters Say Obama is the Better Choice for Their Money

After Nightly Debates, Voters Say Obama is the Better Choice for Their Money

In the past few weeks we have witnessed already two different debates between presidential candidates Mitt Romney (Republican) and current President of the U.S. and presidential candidate Barack Obama (Democrat). Now, after both debates, we are finding out that many voters now firmly believe that President Barack Obama would definitely benefit them the most when it comes to their financial situation and to acquiring personal loans. In fact, on a survey from Bankrate.com, almost 30 percent of respondents said Obama would definitely improve their finances, while only about 20 percent said Romney could do the same.

This renewed attitude from voters was caused by the recent positive economic events, mainly the great unemployment report released earlier this month, along with a clear improvement on the retail sector. All of these have clearly improved consumer confidence, which is why the people of the U.S. are feeling more optimistic than in previous months or years.

The perception of respondents when it comes to their own financial well-being plays, of course, a huge role in which presidential candidate they will vote for. Now, among the ones that stated that they were better off nowadays than they were just a year ago, an impressive 45 percent were certain that, should Obama win, he would be able to better help their finances. This impressively positive number compared makes the 9 percent that Romney got pale in comparison.

Naturally, it all boils down to how well people feel with their current financial situation and with their debts. Another Bankrate.com survey found that Obama supporters clearly tend to be more optimistic when it comes to the country’s financial situation. So even for those considering acquiring personal loans or car loans, they believe that Obama will somehow make their debts easier to repay. This is even more important when one considers that up to 11 percent of U.S. citizens firmly believe that their personal finances are the single most important factor to decide for whom to cast their vote.

We can;t forget of course that there are still several to go until Election Day, so voters’ opinions could shift, especially considering that this is exactly what tends to happen in the last few days before election.

Now, if you want to have a better picture of what to expect from each candidate: Romney supports lower taxes and reduced federal spending, all with the main goal of helping businesses grow. Meanwhile, Obama supports federal programs (like the  health insurance coverage, social services, student loan and personal loan support for example) while at the same time plans to raise taxes for those U.S. citizens with a higher-income.

One of the economic policies that has worried many voters is Romney’s affirmation that he would replace Fed Chairman Ben Bernanke, who has so far worked to successfully keep interest rates low. Something that directly affects any loan holder, including those who acquired personal loans.

Still, it is worth noting that regardless who is elected president, any of the president will still have to work with Congress in order to pass any legislation, which guarantees that every policy will be double checked and debated before being implemented.