Undecided Voters in Short Supply

Just 6% of polled voters said there was a good chance they would change their mind

   

investorpoliticsletters2 Undecided Voters in Short SupplyIf recent polling is any indication, all the campaign ads and candidate visits that Mitt Romney and Barack Obama have rolled out are preaching to the choir.

A recent poll conducted by The Washington Post and ABC News found there are fewer undecided voters than there were in the past three elections.

Only 6% of those polled said there was a good chance they would change their mind on who they were voting for. Another 13% said it was possible they might change their mind, but unlikely. That leaves less than 1 in 5 voters who say there’s any chance they will change their mind.

Compare this to 2004 or 2008. In 2004, 12% said there was a good chance they would switch who they supported, although this was a mid-June survey. By mid-July, that number had dropped to 7%. In 2008, a mid-July poll found 10% of voters saying they were likely to change their minds.

In 2004 and 2008, the number of people who said their vote might change, no matter how small of a chance, was bigger than it is today. In 2004, 21% indicated their minds had not been made up, while 25% said they were still deciding in 2008.

What this means is that the candidates are shelling out a lot of money to reach a shrinking amount of the population. With estimates that $3 billion will be spent in this campaign, that means Obama, Romney, and their supporters will have spent $400 per undecided voter.

– Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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