Millionaire households with express more concern about the political climate and government gridlock than they do the prolonged economic downturn, the national debt and stock market performance.
Meet the new Congress; same as the old Congress?
Hopefully not, according to a new Gallop poll, in which the highest percentage of respondents said the Republican-controlled Congress’s top priority should be fixing itself and ending government gridlock. Three-in-ten (31 percent) of Americans said that rather than focus on a specific issue, they should instead put on the top of their to-do list fixing the way Congress operations, including paying more attention to constituents, compromising and getting things done.
President Obama and Congressional leadership said all the right things following Tuesday’s midterm elections, which saw the Republicans gain control of the Senate and the House for the first time in eight years. At a 75-min. press conference Wednesday, the President said he was “eager to work with the new Congress to make the next two years as productive as possible… We can surely find ways to work together. It’s time for us to take care of business.”
Mitch McConnell, who will become the Senate Majority Leader, said in a separate press conference that the Senate would “work together” with the president on issues on which there is agreement and that a two-party political system did not mean “we have to live in perpetual conflict.”
This kumbaya moment was short-lived when the subject of Obamacare was broached in both press conferences, with McConnell reiterating opposition to the president’s signature legislation with vows to repeal it, and the president standing firm that any such efforts would be met with a veto.
Government gridlock and the stormy political climate are primary concerns of Affluent investors, according to research conducted by Spectrem’s Millionaire Corner. Millionaire households with a net worth up to $4.9 million express more concern about the political climate (84 percent) and government gridlock (85 percent) than they do the prolonged economic downturn (80 percent), the national debt (76 percent) and stock market performance (69 percent).
Seven-in-ten Affluent investors said that the political climate is the biggest obstacle to achieving the American Dream.
What are Americans’ priorities for the new Congress. The highest percentage of respondents to the Gallup poll said that job one should be to listen to and represent the people, followed closely by “compromise/cooperate/get along/work together/end gridlock.”
In terms of specific economic and social issues, the highest percentage said that want to see Congress create jobs and bring jobs home as well as to improve healthcare.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.