The presidential race is a dead heat, according to the newly released CBS/NYT poll. And for all the attention being paid to the attacks on Mitt Romney's record at Bain Capital and, more subtly, his wealth, the economy still appears to be the overriding factor.
President Barack Obama trails Mitt Romney, 46 percent to 47 percent.
After weeks of bad news for the presumptive Republican nominee, the poll result would seem to be unexpectedly tight. And the most logical explanation for why Obama has failed to open up a national lead seems to rest on the economic polling data.
Romney leads Obama among respondents by a margin of 49 percent to 41 percent on who can best handle the economy and jobs. People who think the economy is getting better dropped from 33 percent in April to 24 percent now -- owed largely to a series of bad jobs reports.
Obama is perceived as the candidate who can best help the middle class, with 52 percent citing the president on that question, including 15 percent of Republicans. But even then, he gets a heaping of blame for not turning the economy around. Almost two-thirds of respondents said the president's policies contributed to the economic downturn. Only 17 percent of respondents said the president's policies on the economy were "improving it now."
The economy, in short, is drowning out the political conversation surrounding Romney's private equity career, at least on the national level. Romney's years at Bain Capital made 14 percent of voters more likely to vote for him and 23 percent less likely to vote for him. A fuller 60 percent of voters said it didn't matter. Romney's wealth made 5 percent of voters more likely to vote for him, 20 percent of voters less likely to vote for him, and didn't matter to 73 percent.
There are some silver linings for the president's re-election campaign. Fifty-two percent of Republican voters said they, like Obama, believe tax cuts should expire for people with incomes of more than $250,000, including 16 percent who think they should expire for all earners. Meanwhile, 46 percent of respondents said the Supreme Court's health care decision was a "good thing," while 41 percent said it was a bad thing. That suggests a growing acceptance that this is the law of the land.
Clarification: This post has been edited to better reflect that Obama trails Romney by 1 percent.
Birth Certificate -- "Born In The USA"
<a href="http://www.huffingtonpost.com/2011/04/27/obama-birth-certificate-r_n_854248.html" target="_hplink"><strong>(April 27, 2011) --</strong></a> The White House <a href="http://www.whitehouse.gov/blog/2011/04/27/president-obamas-long-form-birth-certificate" target="_hplink">released</a> President Barack Obama's "long form" birth certificate, adding documentation to a longstanding discussion over his ability to serve as commander in chief. "We do not have time for this kind of silliness," Obama said. "We have better stuff to do. I have got better stuff to do. We have got big problems to solve." (JEWEL SAMAD/AFP/Getty Images)
Osama Bin Laden Killed -- "Tonight, Tonight"
<a href="http://www.huffingtonpost.com/2011/05/01/osama-bin-laden-dead-killed_n_856091.html" target="_hplink"><strong>(May 1, 2011)</strong></a> -- In a televised address to the nation, Obama announces that Osama bin Laden is dead. His death was the result of a U.S. operation launched today in Abbottabad, Pakistan, against a compound where bin Laden was believed to be hiding. "[T]oday's achievement is a testament to the greatness of our country and the determination of the American people," Obama proclaimed. (Photo by Pete Souza/The White House via Getty Images)
Debt Ceiling Deal -- "Gold On The Ceiling"
<a href="http://www.huffingtonpost.com/2011/08/02/obama-debt-ceiling-deal-jobs_n_916285.html" target="_hplink"><strong>(Aug. 2, 2011) --</strong></a> After the Senate passed a bill to raise the debt limit, Obama pleaded with Congress to shift their attention to jobs. "I will urge them to immediately take some steps -- bipartisan, common-sense steps -- that will make a difference; that will create a climate where businesses can hire, where folks have more money in their pockets to spend, where people who are out of work can find good jobs," he said. (Photo by Brendan Smialowski/Getty Images)
Don't Ask Don't Tell -- "Don't Stop Believin'"
<a href="http://www.huffingtonpost.com/2011/09/20/barack-obama-dont-ask-dont-tell-repeal-statement_n_971662.html" target="_hplink"><strong>(Sept. 20, 2011) --</strong></a> As the ban on gays serving in the military came to an end, Obama hailed the fresh start, celebrating the fact that "patriotic Americans in uniform will no longer have to lie about who they are in order to serve the country they love." (Photo by Brendan Hoffman/Getty Images)
Iraq War To End -- "Homeward Bound"
<a href="http://www.huffingtonpost.com/2011/10/21/obama-iraq-troop-withdrawal_n_1024108.html" target="_hplink"><strong>(Oct. 21, 2011) --</strong></a> Obama announced that all U.S. troops will be out of Iraq by 2011, fulfilling a promise that dated back to his campaign. "As a candidate for president, I pledged to bring the war in Iraq to a responsible end," Obama said. "So today I can report that, as promised, the rest of our troops in Iraq will come home by the end of the year." (Photo credit should read JIM WATSON/AFP/Getty Images)
Singing Al Green's "Let's Stay Together"
<a href="http://www.huffingtonpost.com/2012/01/20/obama-al-green-apollo-theater_n_1218070.html" target="_hplink"><strong>(Jan. 20, 2012) --</strong></a> During a fundraiser at Harlem's historic Apollo Theater, Obama delivered a memorable musical message to his donors. With Rev. Al Green in attendance, Obama sang part of Green's hit song "Let's Stay Together," drawing strong applause from the crowd.
Singing Robert Johnson's "Sweet Home Chicago"
<a href="http://www.huffingtonpost.com/2012/02/21/obama-sings-sweet-home-chicago_n_1292576.html" target="_hplink"><strong>(Feb. 21, 2012) --</strong></a> Days after his Al Green rendition, Obama flexed his vocal chords again with a hometown favorite. The East Room of the White House had its blues fix filled when the president started swinging "Sweet Home Chicago."
Gay Marriage -- "Can't Fight This Feeling"
<a href="http://www.huffingtonpost.com/2012/05/09/obama-gay-marriage_n_1503245.html" target="_hplink"><strong>(May 9, 2012) --</strong></a> In a sit-down interview with ABC's Robin Roberts, Obama explained his evolution on the issue, affirming his support for gay marriage. "[A]t a certain point I've just concluded that for me personally it is important for me to go ahead and affirm that I think same sex couples should be able to get married," he said.
Immigration -- "With Arms Wide Open"
<a href="http://www.huffingtonpost.com/2012/06/15/obama-immigration-order-deportation-dream-act_n_1599658.html " target="_hplink"><strong>(June 15, 2012) --</strong></a> The Obama administration addressed America's immigration issue, announcing that it will halt deportations and grant work permits to young individuals eligible for Dream-Act benefits. "They pledge allegiance to our flag," Obama said. "They are Americans in their hearts, in their minds, in every single way but one: on paper."(Photo by Alex Wong/Getty Images)
Health Care Reform -- "Beautiful Day"
<a href="http://www.huffingtonpost.com/2012/06/28/supreme-court-health-care-decision_n_1585131.html" target="_hplink"><strong>(June 28, 2012) --</strong></a> After weeks of speculation that Obama's signature piece of legislation could be overturned, the Supreme Court ruled that the Affordable Care Act's individual mandate is constitutional. "It should be pretty clear that I didn't do this because it's good politics," <a href="http://www.huffingtonpost.com/2012/06/28/obama-health-care-ruling_n_1632953.html" target="_hplink">Obama said</a>. "I did it because it's good for the country." (Photo by Alex Wong/Getty Images)