Coverage of the Economy Outpaces All Other Issues Since Super Tuesday

By Dow Jones Insight Staff

Conventional wisdom of late has held that John McCain was performing best when foreign policy issues such as Iraq, Iran, Afghanistan and terrorism were at the forefront of the presidential campaign, and that now that the economy and financial crisis are dominating the discussion, his weaknesses are causing him to fall behind in the polls.

While it is true that election coverage pertaining to the economy is currently at its peak and that McCain is now trailing Obama significantly in several national polls, analysis of coverage in 20,000 mainstream sources tracked by Dow Jones Insight reveals that the economy has, in fact, been the top election issue at almost every step of the way since Super Tuesday, falling behind other issues on only a handful of occasions. The related issue of taxes has also outpaced foreign policy issues much of the time. So attributing McCain’s recent slide to a shift in press coverage toward the economy may not be quite accurate, since the emphasis has been there all along.

For the eight months beginning on Super Tuesday, February 5, the economy and/or taxes drew the highest coverage in every week except in mid- to late-May, when McCain and Obama stepped up their dispute over whether or not to talk with Iran, and in late July when Obama made his trip to the Middle East.

In terms of volume, the economy drew 109,356 mentions in mainstream press sources for the entire eight-month period, compared with 100,943 combined mentions of the four tracked issues related to the Middle East that drew the most coverage – Iraq (23,677), Iran (20,044), Afghanistan (21,279) and terrorism (35,943). Meanwhile, taxes generated 67,387 total mentions in the tracked timeframe.

The issue of the economy alone exceeded the total combined mentions of the four Middle East issues in five of the eight months. When the economy is combined with taxes, the two issues exceeded the four foreign-policy topics in six of the eight months, with May and July again being the exceptions.

The week of July 14 saw the highest volume of Afghanistan coverage, with 5,518 mentions, while in the same week terrorism was mentioned 3,170 times. During the week of May 19, Iran was mentioned 1,461 times, compared to an unusually low 937 for the economy, and during the week of May 12, terrorism received 1,882 mentions while Iran was mentioned 1,466 times, both significantly outstripping the economy (1,049).

Methodology: Sources analyzed include more than 6,000 newspapers, wires, magazines, radio and TV transcripts. The nominees subject group includes McCain, Palin, Obama and Biden.

Vice Presidential Candidates Not Filling the Gaps

Dow Jones Insight Staff

In choosing their running mates, both Obama and McCain were viewed as having selected candidates who could compensate for their own areas of actual or perceived weakness – in Obama’s case the issue of experience especially as it relates to foreign policy, and in McCain’s case, his lack of appeal to the party’s conservative base as well as his age. Based on analysis of mainstream media sources tracked by Dow Jones Insight, they may not be getting quite what they expected.

During the period September 18-25*, Joe Biden’s name was mentioned 470 times in connection with the issue of experience, representing 14% of his 3,466 total mentions on the 10 issues being considered. Obama, meanwhile, received 999 mentions, or 6% of his total 17,044 mentions on the 10 issues. So while Biden received fewer mentions on the topic due to his lower coverage overall, the issue of “experience” represented a significant portion of his overall coverage, indicating that this message is coming across well.

Another area in which Biden’s share exceeded Obama’s during the period was the issue of taxes, though this outcome may be have been more inadvertent than by design. Biden received 986 mentions in conjunction with taxes, or 28% of his total, while Obama received 2,316 mentions on taxes, or 14% of his total mentions. The primary driver for Biden’s coverage was his statement that it would be patriotic for wealthy Americans to pay higher taxes – a statement the Republicans immediately attacked and that served as a distraction from the foreign policy expertise that Biden’s presence on the ticket was expected to fill.

Looking at some key foreign policy issues – specifically Iraq, Iran and terrorism – Biden only had a higher proportion of coverage than Obama on Iraq, with 164 mentions, or 5%, compared to Obama’s 437, or 3%. On Iran, Biden had 103 mentions, or 3%, compared to Obama’s 644, or 4%, while on terrorism, Biden received 172 mentions, or 5%, and Obama received 883 mentions, also 5%.

On the Republican side, Palin received higher percentages of coverage than her running mate on a number of issues unrelated to the reasons she was selected. Aside from the economy, which was the top issue for both McCain and Palin, her largest percentage of coverage on the 10 issues came on the topic of experience, for which she received 1,455 mentions, or 20% of her 7,302 total mentions on the issues considered. McCain received 1,513 mentions, or 8% of a total 18,857 mentions on the tracked issues. Given her short tenure as governor, discussions of Palin and experience are clearly not a positive development for the McCain team.

Palin also exceeded McCain on Iran, Iraq and terrorism, topics on which her knowledge is being challenged. She received 726 mentions, or 10%, on Iran compared to McCain’s 751 mentions, or 4%; 190 mentions on Iraq, or 2.6%, compared to McCain’s 410, or 2.2%; and 586 mentions, or 8%, on terrorism compared to McCain’s 1,206, or 6%.

On the issue of energy, an expected Palin strength, the vice presidential candidate received 249 mentions, or 3%, which McCain also exceeded, netting 883 mentions, or 5%.

*The analyzed period begins a few days after the start of the current crisis in the financial markets (September 15) and ends prior to the first presidential debate (September 26). We opted to omit those periods as they would have skewed coverage toward the economy and foreign policy.

Methodology: Mainstream press sources include more than 6,000 newspapers, wires, magazines, radio and TV transcripts and more than 13,000 current-awareness news Web sites. The 10 issues chosen were selected as most closely aligned with the areas of weakness the candidates needed to fill.

Economy Moves to Top Spot Among Tracked Issues as Overall Issues Coverage Surges

Dow Jones Insight Staff

It was a busy month in terms of media coverage of key election issues, as total issues-oriented mentions rose 21% to 1,377,984, compared to 1,137,582 mentions in the previous rolling month, which itself had represented a 22% jump from the preceding rolling timeframe.

The economy, as expected, was the most covered issue in the latest rolling one-month period tracked by Dow Jones Insight, moving up two spots from the previous period. A related issue on the housing slump also advanced, rising three slots to 19 from 22.
Among the issues changing hands were education and jobs, both of which went from being too close to call to going to McCain’s side of the ledger. Obama took back the issue of fundraising, which he’d lost to a tie last time around, but he lost both faith and Israel, now too close to call.

In total, Obama leads on four issues and McCain on 19, while two are currently too close to call.

Obama Takes Command of Five More Issues

Dow Jones Insight Staff

In our previous analysis, we found that Obama was in the lead in media coverage on 10 of the 25 key election issues being tracked in mainstream and social media by Dow Jones Insight, a rather impressive performance. But in the latest period, from July 17 to August 17, he demonstrated a clear lead on 15 of the 25 issues, wresting one away from McCain and breaking formerly statistical ties in four others.

The five new issues on which Obama is now clearly ahead of McCain include the economy, health care, abortion, the housing slump and Nafta. The housing slump issue was formerly led by McCain, while the other four issues had been too close to call, defined as those that differ by six or fewer percentage points. While Obama’s lead in media coverage in general (see the next post for more detail) would certainly explain his lead on many issues, it is still surprising that his advantage on issues is almost across-the-board.

But perhaps it isn’t as bad as it seems for McCain. While he holds clear leads on only three issues, and all three of those are among the six least-covered issues, he is tied with Obama (i.e., too close to call) on six of the 14 most-covered issues. Among them are key domestic issues like energy, taxes, fuel prices and the environment. Given that he has lagged Obama in total media mentions since we began tracking election-related media coverage, it is a pretty fair achievement that he’s maintaining parity on so many issues.

Of the remaining eight of the top 14 most covered issues, Obama’s tour of the Middle East and Europe in late July helped him take the lead on three – Afghanistan, Israel and Iran. But now that several weeks have passed since that trip, all three of those issues have fallen in the rankings compared to our previous report, and they could be up for grabs once that time period falls outside our analysis.

Methodology: This analysis looks at 25 selected issues that occurred within 50 words of at least one of the candidates’ names during the period of July 17 to August 17, 2008. To demonstrate change in “ownership” of issues, these data were compared with the period of July 6 to August 6. We opted to take a 30-day snapshot approximately every two weeks to flatten out any spikes in data that could be attributed to a single-day anomaly in the data. The data come from approximately 19,000 English-language mainstream media print and Web sources, more than 50,000 English-language message boards and 2 million blogs.

Fuel Prices, Jobs Cuts and Housing Slumps – Oh, My

By Glenn Fannick
Dow Jones Insight Staff

With the current state of the economy a hot topic, we have begun tracking several new issues that are playing key roles in the overall economic picture – namely fuel prices, the housing market and the jobs situation. Considering the direness of the discussion around these topics in some corners of the media, it appears that on the whole, the press and bloggers are talking about them in relation to the candidates somewhat less than we’d have expected. As always, this may or may not be a reflection of where the candidates want to take the conversation, but it shows the amount of attention the media and bloggers are giving the issues as they cover the candidates.

Of the 24 key domestic and international issues currently tracked by Dow Jones Insight, only one of the new topics – fuel prices – cracked the top 10. The issue was mentioned in the context of either candidate 27,443 times in all tracked sources (mainstream and social media) during the period June 20 – July 20, making it the eighth-most-discussed issue. The topic of jobs was referenced 22,335 times, ranking it 11th, while the state of the housing market came up a surprisingly low 5,578 times, putting it way down the list in the 21st spot. The issue of the economy as a whole, however, rose to the top spot among all issues, potentially offering some proof that politicians prefer to talk in generalities rather than offer specific plans.

We will update this table regularly to provide an at-a-glance view of how coverage of the issues fluctuates over the course of the campaign.

Methodology: Mainstream press sources include more than 6,000 newspapers, wires, magazines, radio and TV transcripts and more than 13,000 current-awareness news Web sites. Social media sources include 2 million of the most influential blogs and more than 60,000 message boards.

Economy Gathers Leading Spot for all Candidates

By Glenn Fannick
Dow Jones Insight staff

Domestic issue coverage, across mainstream and social media and in proximity to the five remaining candidates, continues to show differences.

Biggest one to note: Health care remains big for the Democrats (24% of all mentions) and small for the GOP (9%). The economy is No. 1 for everyone.

The difference in domestic issue coverage between Obama and Clinton is slight, with the concept of "terrorism" and "health care" being the only places where there is noticeable difference. Obama gets more mentions in close proximity to terrorism to Clinton's edge in health care. But the volumes change when you consider the McCain, Huckabee and Paul.

Terrorism continues to be McCain's issue, second only to the economy. Think Huckabee? Think immigration (26% of his coverage to 9% for the next closest candidate).

Methodology: "Close proximity" is defined as about 50 words. The total number of documents for this analysis equals 29,570 from Feb. 26 to March 3, 2008. Sources in this analysis include more than 6,000 newspapers, wires, magazines, radio and TV transcripts; more than 13,000 current-awareness news Web sites; 2 million of the most influential blogs; and more than 6,000 message boards.