When voters head to the polls Tuesday, the economy and jobs will be foremost
on the minds of many.
The economy shows signs of being just as important to voters as it was in
the 2008 presidential election, when the country's economy was still in
recession. In total, 87 percent of registered voters said the economy is very
important to their vote now, as it was in 2008, according to a report by the
Pew Research Center for the People and the Press released in September.
The importance of jobs to voters has grown, with 83 percent of registered
voters rating jobs as very important in September 2012 versus 80 percent in
October 2008.
In the wake of those economic concerns, the percentage of people who say
other top political issues, such as terrorism and immigration, are very
important has dropped from 2008 to 2012, according to the report.
Presidential candidates Mitt Romney and President Barack Obama are
offering different solutions to voters on how to boost an economy that has yet
to recover from the recession, but simply seeing an end to the election cycle
and a leader for the nation selected -- regardless of who he is -- may have a
positive impact on jobs and the overall economy, according to some.
Business can handle anything but uncertainty, according to Don Vitale of
Manchester Capital in Bowling Green.
The uncertainty created by the presidential election is having a
generally paralyzing effect on business, he said.
After the outcome of the election is clear, then businesses will be able
to react to the policies that the winner will likely lay out when he takes
office, Vitale said.
Catherine Carey, chair of the Economics Department at Western Kentucky
University, is of a similar opinion. She said it's hard for businesses to make
long-term investments when so many future policies are unclear.
"They're making 30-year investments when they don't know what the rules
are going to be next year," she said.
While the real estate market in the Bowling Green area is seeing signs of
recovery, that recovery will likely become stronger after the election, said
Steve Davis, president of the Realtor Association of Southern Kentucky.
"Politics is going to change no matter who is elected in Washington, and
it's going to affect our jobs, it's going to affect our housing industry, I
feel like in a positive way," he said. "I feel like that's what we need to get
through to get things started."
He said he expects to see real estate activity in spring of 2013 to be
much higher than that seen in recent years.
Effects of the recession locally
A diversity of industries in Bowling Green and the Warren County area
means that, though the recession hit some sectors hard, the overall effects
have been more mild than in many other areas of the country, Vitale said.
"We are enjoying a faster recovery, I believe, because of our attractive
balance," he said. "By that I mean, we are a center for health care in the
region, for higher education. We are a retail center. We have a wonderfully
diverse industrial manufacturing base as well as a strong agricultural sector
that is enjoying attractive commodity prices."
The principal negative impact that the area experienced during the
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News Column
Economic Uncertainty Still Looms
Nov. 5, 2012
Katie Brandenburg, Daily News, Bowling Green, Ky.
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