"The Republican Party is clearly taking a bigger political hit from Americans thus far in the unfolding saga, with 28 percent rating the GOP favorably—a loss of 10 points from only a month ago"
- Gallup Inc., primarily research-based, global performance-management consulting company
Amid hopes of a possible budget deal and a slight progress in negotiations between Democrats and Republicans, stocks surged all over the world. Hence, U.S. stocks closed out Thursday's session with a sharp bang, with major indexes gaining more than 2%. And while the world's largest economy is likely to avert its first-ever default, another major problem is on a rise.
Stocks are rising, while Republican's poll numbers are hitting historic low. Americans are getting extremely disenchanted with the Grand Old Party (Republicans) and according to the latest poll conducted by Gallup, its favourability rating dropped to 28%- the lowest for any party on record. Furthermore, the party is viewed more negatively even more than during the Iraq War, the depth of financial crisis and the last debt-ceiling scare. The main reason for such an attitude, according to the survey, is an opinion that the GOP's top priority is not a deficit reduction or creation of jobs, rather than hating Obama. A new poll showed, that 32% agreed with this statement. Additionally, attention is being diverted from widely-discussed Obamacare, as the GOP's business supporters are getting angry. The latest government shutdown and the inability to make a consensus in the government are reflecting how dysfunction American leading parties have become.
© Dukascopy Bank SA