The balance of party identification in the American electorate now favors the Democratic Party by a decidedly larger margin than in either of the two previous presidential election cycles. In 5,566 interviews with registered voters conducted by the Pew Research Center for the People & the Press during the first two months of 2008, 36% identify themselves as Democrats, and just 27% as Republicans. The share of voters who call themselves Republicans has declined by six points since 2004, and represents, on an annualized basis, the lowest percentage of self-identified Republican voters in 16 years of polling by the Center.