US public disfavors Obama's, Romney's economic plans

The U.S. public disfavors both President Barack Obama's and presumptive Republican candidate Mitt Romney's economic plans, showed a poll released Wednesday.

The survey, conducted by ABC News and The Washington Post, found that reaction to Obama's economic proposals was 50 percent negative and 43 percent positive, and for Romney's it was 47 percent negative and 37 percent positive, with sharp differences among groups.

Among all the voting groups, the swing-voting independents, whose opinion is key to the 2012 presidential election, are even more distrustful of both the sitting president's and the challenger's ideas about the U.S. economy.

Fifty-four percent of independents viewed the president's economic proposals negatively, while 38 percent were positive. For Romney, 47 percent rated his plans unfavorably and 35 percent favorably.

Obama also crosses the 50 percent negative line among registered voters, at 51 percent to 43 percent. Romney's rating among registered voters was 46 percent unfavorable to 40 percent favorable. However, more independents are undecided about Romney's plans than his rival's, giving the Republican challenger more room to attract support.

Romney's plans are also less popular with his base than Obama's are among his own supporters. Romney's policies earn the support of 65 percent of Republicans polled, while 76 percent of Democrats like the president's plans.

There are more discouraging signs for the president's reelection bid amid a still-tough economy. Obama's approach is the least popular with middle-class voters who earn between 50,000 and 100,000 dollars and will be essential to winning rust-belt swing states. White voters are split on Romney's economic plan, but against the president's by a two-to-one margin.

After more than three years in the White House, Obama had a 55 percent negative rating in an ABC and The Washington Post poll released last month.

The economy remains the top issue in the 2012 election. Obama must be aware of the fact often cited by the U.S. media this year that no president has won re-election with an unemployment rate above 8 percent since President Franklin Roosevelt during the Great Depression.

The incumbent's and the challenger's campaign teams have been warring over who would best lead the U.S. economy. Romney's campaign claims the successful private-sector background makes Romney much more suited to improve the economy than the incumbent president. Obama's campaign argues that his administration has improved job creation and economic recovery out of an "inherited burden" left behind by the former administration of George W. Bush.

The president's team has also raised doubts over Romney's business background and even released a hard-hitting ad calling Bain Capital, a private equity firm formerly run by Romney, a job-killing "vampire."