Undecided Voters in Short Supply

by InvestorPlace Staff | July 23, 2012 11:32 am

investorpoliticsletters2 Undecided Voters in Short Supply[1]If 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[2] 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[3] 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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Endnotes:
  1. [Image]: mailto:letters@investorplace.com
  2. fewer undecided voters: http://www.washingtonpost.com/blogs/the-fix/post/the-incredible-shrinking--and-increasingly-valuable--undecided-voter/2012/07/23/gJQAcRMH4W_blog.html?wprss=rss_the-fix
  3. $3 billion will be spent: http://politicalticker.blogs.cnn.com/2012/06/25/forget-1-billion-the-3-billion-campaign-is-here/

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