While the economy has emerged as the top issue of Election 2008, politicians are still scrambling to find out how to address the topic. The challenge is highlight by a new nationwide telephone survey showing that 48% of voters say the best thing the government can do is get out of the way by reducing taxes and regulations. The Rasmussen Reports poll found that 36% disagree with that approach while 16% are not sure.

Republicans agree that government should get out of the way by a 64% to 24% margin.

Democrats disagree by a 48% to 35% margin.

Forty-nine percent (49%) of unaffiliated voters agree that the best thing the government can do is get out of the way. Thirty-four percent (34%) disagree.

This is consistent with another recent survey showing that 53% do not want the federal government to help homeowners who are struggling to pay their mortgage. However, another The recent survey offers a different perspective-- just 23% believe that adequate safeguards are in place to prevent another 1930’s style Depression. Earlier this year, the much-hyped economic stimulus package was given a lukewarm reception by voters.

Thirty-eight percent (38%) of Likely Voters nationwide rate the economy as the top voting issue of Election 2008. The national telephone survey found that 19% consider the War in Iraq as the top issue, 12% name National Security, 10% say Immigration, and 9% believe Health Care is the highest priority. These results are broadly similar to the priorities expressed in January.

Forty-five percent (45%) of Democrats name the economy as the top issue along with 29% of Republicans and 37% of unaffiliated voters. A separate survey found that 42% believe there is a conflict between economic growth and another high-profile priority—protecting the environment.

Fifty-nine percent (59%) of all voters believe it is more important to create economic growth than to reduce the income gap between rich and poor. Thirty-five percent (35%) hold the opposite view and believe that reducing the income gap should be a higher priority. Democrats are evenly divided while Republicans and unaffiliated voters place a higher priority on economic growth.

While economists and politicians talk of economic stimulus in terms of new government spending or tax cuts, 49% of voters now say the best policy approach would be for the government to cut spending. Twenty-four percent (24%) say that tax cuts are the best policy prescription while 12% prefer interest rate cuts. Only 5% favor an increase in government spending.

Fifty percent (50%) of voters say that the Chairman of the Federal Reserve has more control over the economy than the President of the United States. Thirty-two percent (32%) believe the President has more control.

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