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These latest ABC News -Harris Survey results, taken among a cross section of 1,195 likely voters on January 22nd, dramatically illustrate the incredible political comeback of President Carter. Only four months ago, Reagan held a 50-45 percent lead over Carter. This means that a 5 point deficit has been turned into a 34 point lead over this short span of time. This is the largest lead President Carter has held over any Republican since July 1976, when he was 39 points ahead of President Gerald Ford.

The magnitude of Carter's lead can best be grasped by examining where the Carter-Reagan contest stands among groups which are usually Republican in their preference:

--In the suburbs, Carter

--So-called "swing" groups of voters, whose support is indispensable to either party in a close election, are also going for Carter by massive margins. Smalltown voters now prefer Carter by 60-35 percent. The college educated back the President by 61-35 percent. In the $15,000 to $25,000 income group, where Reagan is strongest, Carter nonetheless leads by 59-37 percent. Middle of the road voters are now behind Carter by 67-30 percent. Political independents give him a 63-32 percent lead.

--But Carter's strongest showing is among those groups who traditionally form the backbone of the Democratic Party. In the big cities, Carter is ahead of Reagan by 68-27 percent. Among young people under 30, he leads by 71-27 percent. Among blacks, he holds a lopsided 89-5 percent edge. Among Catholics, Carter is ahead by 68-29 percent. Among Jewish voters, he is winning by 75-18 percent. Among all Democrats, Carter is winning by 82-14 percent. And among political liberals, he is leading by 75-21 percent.

The Carter-Bush results are not very different, but there are some signs of where Bush might gain strength should he emerge as the Republican nominee:

--Among the college-educated group, Bush trails Carter, but only by a 54-40 percent margin. With those whose incomes are $25,000 or more, Carter's lead over Bush is no better than 51-44 percent. Among professional people, Carter is ahead of Bush by 54-39 percent, and Carter and Bush are tied at 48 percent among business executives. With independents, Carter is ahead of Bush by 56-36 percent. And among conservatives, Carter leads Bush by 54-39 percent. There seems little doubt that Bush is likely to gain on Carter among all of these important segments of the electorate if and when the international crises are resolved.

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