Exclusive: Obama Says Democrats Endangered if Election Is Referendum on Economy

By Kate McCarthy

Sep 8, 2010 6:45pm

If the midterm elections become a referendum on the economy then Democrats risk losing majority control of Congress, President Obama told me this afternoon.

"If the election is a referendum on are people satisfied about the economy as it currently is, then we're not going to do well," he said.

92% of Americans say the economy is not doing well, according our latest poll. Today the president acknowledged the growing frustration with slow recovery.

“I think everybody feels like this economy needs to do better than it's been doing,” Obama told me.

So does the president think Democrats can win in November? 

“My challenge, and the challenge of every Democratic candidate who’s out there is just making sure the people understand there’s a choice here,” Obama said.

Tune into "GMA" tomorrow morning at 7am to see more of my exclusive interview with the president including his first comments on the possible Koran burnings, more on the midterm elections and what he thinks if his chief of staff decides to run for mayor of Chicago.

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George Stephanopoulos

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