Reports reveal rising foreclosures, gas prices and high unemployment are damaging U.S. President Barack Obama's reelection bid, as he is being blamed for the terrible financial state of the nation. Challenger Mitt Romney is faring better in the polls, due to his business background, which has made him the frontrunner in the election for the Republican nomination and presidency.
Obama's struggle with the economy and the visible ongoing financial deterioration is diminishing his bid for a second term. The economy is at another crucial juncture and the nation does not have four more years to give away to economic losses and undue financial hardships. The sense of urgency is sorely missing in the government.
Could rising foreclosures hurt Obama in 2012?
04:54 PM ET, 03/26/2012 - Either way, however, it appears that voters will be watching the housing market closely in this election, and they’re inclined to think it will work against the president’s chances: According to the Trulia survey, 73 percent of Republicans and 57 percent of Democrats believe that housing will hurt Obama’s reelection bid — 65 percent of Americans overall.