Americans prepare to vote with worries in mind

As the economy continues its roller coaster ride, more and more Americans are worried about the direction in which the country is moving. With election day coming quickly, voters are likely to have their concerns in mind when they head to the polls.

The Dow Jones Industrial Average, often used as a bellwether for the nation’s overall economic health, has dropped considerably over the course of just the past few weeks. Voters could be looking to the presidential candidates for reassurance that the country will end up back on track.

Major economic issues that the candidates have been forced to address include unemployment and the housing crisis. The unemployment rate for the year of 2007 was 4.7 percent. In September 2008, however, it reached 6.1 percent, the highest it has been since 2003.

Many Americans worry that the slowdown already gripping the financial industry will spread to other sectors.

This compounds the worries of those struggling to pay their mortgages. The resetting of adjustable rate mortgages, in particular, can make it difficult for some households to pay on time. If a home enters foreclosure, the buyer loses all of the initial investment.

The Mortgage Bankers’ National Delinquency Survey reports that for the first quarter of 2008, the delinquency rate reached almost 6.5 percent of all outstanding loans. With an increasing number of Americans worrying about paying their bills, they could voice their concerns in the voting booths on Tuesday, Nov. 4.

--Bridget O'Sullivan