HART RESEARCH What The Economy Means To Ohio Voters 50+

Transcription

1 HART RESEARCH A S S O C I A T E S What The Economy Means To Ohio Voters 50+ Key findings from survey conducted July 2012 for

2 Methodology Statewide telephone survey conducted in Ohio July 10 to 16, 2012, among registered voters age 50 and over Total sample sizes: 453 voters age 50 and over (MOE = 4.6 percentage points), including 169 Boomers non-retired voters age 50 to 64 (MOE = 7.5 percentage points) 251 age 50+ Retired voters (MOE = 6.2 percentage points) 2

3 Overview Non-retired Boomers in Ohio feel great economic anxiety across party lines. This is reflected in a new Anxiety Index that measures their worries on such issues as prices rising faster than incomes, health expenses, and retirement security. They also feel that political gridlock negatively affects their economic circumstances. A major driver of economic anxiety is concern over retirement security: 61% believe they will have to delay retirement, 57% worry they won't have a comfortable retirement, and 45% don't think they'll ever be able to retire. This insecurity leads Boomers to conclude that Medicare and Social Security have become even more important for their future. 3

4 Overview (continued) This anxiety underscores the importance of strengthening Medicare and Social Security for current and future generations. Voters 50+ believe the next president and Congress will need to act to strengthen Medicare and Social Security for the future, and that both parties will have to come together to find a solution. 50+ voters in Ohio want to know where the candidates stand on Medicare, Social Security, and other vital issues. But they report that the candidates have done a poor job explaining their plans on priority issues, including strengthening Social Security (71%), strengthening Medicare (69%), reducing the budget deficit (69%), and taxes (62%). 4

5 Ohio 50+ Voters' Financial Outlook: Dissatisfied & Anxious 5

6 Nearly Three-Fourths See National Economy In Bad Condition How would you rate the condition of the national economy these days? Ohio voters age 50/over 74% 22% Very bad 39% Very good 1% Good Bad 6

7 Ohio Voters 50+ Fairly Satisfied With Their Personal Financial Situation, Though Boomers Less So How satisfied are you with your own financial situation today? Very satisfied Somewhat satisfied Somewhat dissatisfied Very dissatisfied 62% 71% 37% 27% 20% 16% 27% 13% Boomers Retirees 7

8 However, Ohio Voters 50+ Are Worried About Reaching Financial Goals Looking ahead to the next five years or so, how do you feel about being able to achieve your economic and financial goals? Hopeful/confident Worried/concerned 63% 34% 41% 48% Boomers Retirees 8

9 Ohio 50+ Voters' Financial Worries Ohio voters age 50/over who say they worry very/somewhat often about each Prices rising faster than my income Having to pay too much in taxes Not having financial security in retirement Having health expenses I cannot afford Having to take care of aging parent/relative Not being able to retire when I want for financial reasons Not being able to afford education for self/children Not being able to keep up with mortgage/rent Not being able to get fulltime job with benefits Having more credit card debt than I can handle 13% 16% 16% 24% 35% 34% 48% 55% 58% 71% 9

10 Anxiety Index For each one of the top five economic concerns about which they say they are worried, voters are assigned 20 points. A minimum score of 0 reflects no economic anxiety, while a maximum score of 100 indicates a great deal of economic anxiety. The five components of the Anxiety Index are: I am worried about Prices rising faster than my income Not having enough financial security in retirement Having to pay too much in taxes Not being able to retire when I want for financial reasons Having health expenses I cannot afford 10

11 Components Of The Anxiety Index Ohio voters who worry very/somewhat often about this: Boomers Retirees Prices rising faster than my income Not having financial security in retirement 44% 69% 71% 76% Having to pay too much in taxes 53% 67% Not being able to retire when I want for financial reasons 15% 62% Having health expenses I cannot afford 45% 53% 27% of Ohio Boomers are worried about not being able to find a full-time job with benefits. 11

12 Ohio Boomers Have Higher Rating On Anxiety Index Mean Anxiety Index Score Boomers Retirees 12

13 Nearly Two-Thirds Of Ohio Boomers Expect To Delay Retirement Do you think you will end up delaying your retirement to save more money in order to be able to live comfortably in retirement? Boomers Will probably have to delay retirement 64% Will not 31% 13

14 Just Half Of Ohio Boomers Believe They Will Ever Be Able To Retire How confident are you that you will be able to retire at some point? Boomers 50% 47% Very confident 29% Confident Not at all confident 23% Just somewhat/ not confident 14

15 Ohio Boomers Voice Little Confidence They Will Have Secure Retirement How confident are you that you will have enough money to live comfortably throughout your retirement years? Boomers Retirees 73% 54% 45% 26% Very 11% Not at all confident 33% Very confident 24% Not at all confident 15% Confident Just somewhat/ not confident Confident Just somewhat/ not confident 15

16 Ohio 50+ Voters' Satisfaction With Retirement Savings How satisfied are you with the amount of money you are saving or have saved for retirement? Boomers Retirees 59% 50% 48% 36% Very satisfied 14% Very dissatisfied 28% Very satisfied 26% Very dissatisfied 19% Satisfied Dissatisfied Satisfied Dissatisfied 16

17 Nearly Two-Thirds Of Ohio Boomers Plan To Rely On Social Security & Medicare Even More Due To Downturn As a result of the recent economic downturn, I am planning to rely even more on Social Security and Medicare to provide economic and health care security in retirement. Boomers 64% Agree* 32% Men Women Non-college graduates 61% 73% 78% *Among all Ohio voters 50+ Agree Disagree 17

18 Ohio 50+ Voters And The 2012 Election 18

19 Overview Ohio voters 50+ are searching for information, but candidates aren't delivering. Social Security and Medicare remain voting issues of central importance to these voters because of their economic anxiety. Voters 50+ are looking for bipartisan solutions for strengthening Social Security and Medicare. 19

20 Ohio 50+ Voters Affected By Economic Downturn And Political Gridlock My personal economic circumstances have been negatively affected by: Economic Downturn of Past 4 Years Political Gridlock in Washington 67% Negatively affected: Some/a little A great deal 68% 37% 42% 20

21 Low Approval For President Obama, High Disapproval For Congress Job Approval of Barack Obama Ohio voters age 50/over -7 Job Approval of Congress Ohio voters age 50/over -76 Approve 7% 50% Disapprove Approve 43% 83% Disapprove Not sure 10% 7% Not sure Boomers % 41% Boomers 8% -77 7% 85% 5% 21

22 Ohio 50+ Voters' Presidential Preference Presidential Trial Heat Voters age 50/over even Barack Mitt Obama Romney 45% 45% includes 3% leaning Romney includes 2% leaning Obama 10% Not sure 22

23 Ohio 50+ Voters' Presidential Preference, Among Key Subgroups Obama voters Romney voters Differential: Obama Romney All voters age 50/over 45% 45% even Boomers Retirees 42% 47% 47% 44% Whites 40% 50% -10 Men Women 40% 49% 50% 41% Confidence in Retirement: Confident Not confident 58% 35% 33% 54%

24 Preference In Ohio Senate Race Trial Heat for U.S. Senate Voters age 50/over Josh Mandel 25% Leaning Mandel 11% 36% MANDEL 18% Not sure % BROWN 14% Sherrod Brown 32% Leaning Brown 24

25 50+ Voters Say It's Hard To Find Objective, Reliable Information About Candidates How easy/hard is it to find objective and reliable information about the record and positions of candidates running for office this November? Ohio voters age 50/over 52% 36% Hard to find reliable information Obama voters 49% Very easy 14% Very hard 26% Uncommitted Romney voters 56% 55% Easy Hard 25

26 Candidates Not Doing Good Job Explaining Their Plans For Addressing Key Problems How good a job have the presidential candidates done explaining their plans on these issues? Not so good/poor job Very/fairly good job Strengthening/reforming Social Security Reducing the budget deficit Strengthening and reforming Medicare Improving public education Strengthening the economy/creating jobs Improving health care Taxes Ohio voters age 50/over 17% 20% 22% 27% 27% 29% 28% 71% 69% 69% 63% 63% 63% 62% 26

27 Limited Confidence In Social Security Among Ohio 50+ Voters, Especially Boomers How confident are you that Social Security will be there for you and for future generations? Very confident Somewhat confident Not very confident Not at all confident 68% 54% 43% 30% 10% Boomers 31% 13% Retirees 25% 27

28 Strengthening Social Security Is Critical For Economic Security Social Security is critical to the economic security of seniors. The next president and Congress need to strengthen Social Security so that it is able to provide retirement security for future generations. Strongly agree Somewhat agree Disagree 92% Obama voters Uncommitted Romney voters Total agree 97% 91% 90% Strongly agree 82% 78% 72% 90% Obama voters Uncommitted Romney voters Total agree 94% 87% 89% Strongly agree 77% 67% 66% 75% Men Women 93% 92% 74% 77% 70% Men Women 89% 90% 66% 73% 5% 5% Ohio voters age 50/over Ohio voters age 50/over 28

29 Broad Interest In Candidates' Plans For Social Security How helpful would learning the candidates' plans on strengthening and reforming Social Security be in your presidential vote decision? Very helpful Fairly helpful All Ohio voters age 50/over Boomers 51% 47% 62% 65% Retirees 52% 66% Democrats 55% 70% Independents 44% 53% Republicans 49% 65% Whites 50% 65% 29

30 Ohio 50+ Voters Are Not Confident About Medicare's Future How confident are you that Medicare will be there for you and for future generations? Very confident Somewhat confident Not very confident Not at all confident 57% 41% 48% 47% 9% Boomers 23% 14% Retirees 21% 30

31 Strong Commitment To Medicare Among 50+ Voters In Ohio Medicare is critical to maintaining the health of seniors. The next president and Congress need to strengthen Medicare so that it is able to provide health coverage in retirement for future generations. Strongly agree Somewhat agree Disagree 93% Obama voters Uncommitted Romney voters Total agree 97% 93% 91% Strongly agree 85% 73% 68% 90% Obama voters Uncommitted Romney voters Total agree 94% 88% 88% Strongly agree 78% 64% 61% 76% Men Women 94% 92% 71% 80% 68% Men Women 90% 90% 62% 74% 4% 6% Voters age 50/over Voters age 50/over 31

32 Broad Interest In Candidates' Plans For Medicare How helpful would learning the candidates' plans on strengthening and reforming Medicare be in your presidential vote decision? Very helpful Fairly helpful All Ohio voters age 50/over Boomers 46% 41% 56% 61% Retirees 49% 64% Democrats 53% 69% Independents 38% 48% Republicans 42% 58% Whites 46% 61% 32

33 Ohio 50+ Voters Looking For Bipartisan Solution For Social Security And Medicare Finding a long-term solution for Social Security and Medicare is too big a problem for either party to fix. Instead, Republicans and Democrats need to come together to find a solution to strengthen Social Security and Medicare for future generations. Strongly agree Somewhat agree Disagree 88% 91% 80% 89% 90% 87% 79% 82% 67% 80% 83% 77% 7% Voters age 50/over Democrats Independents Republicans Obama voters Romney voters 33

34 HART RESEARCH A S S O C I A T E S What The Economy Means To Ohio Voters 50+ Key findings from survey conducted July 2012 for