Poll: U.S. Concerned But Split On Bailout
CBS News Survey Shows That Americans Fear Effects Of Financial Crisis But Are Not Convinced Bailout Plan Is The Solution
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Credit Crunch Hits Home
Small business owners are finding it harder to get a loan due to tightened lending standards. As Randall Pinkston reports, consumers are optimistic the economic bailout plan will help.
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Candidates' Bailout Battle
Presidential candidates Barack Obama and John McCain are on the campaign trail speaking about each other's stance on the economic bailout plan. Jeff Glor reports.
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Advice From Financial Expert
After the House voted against the bailout bill, many concerned Americans phoned The Motley Fool's Tim Hanson for advice. Harry Smith talks with Hanson about what Americans should do.
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Meanwhile, the approval ratings for both President George W. Bush and Congress have plummeted to historic lows.
Click here to read CBS News' new poll on the presidential race, which shows Obama with a nine-point edge.Americans overwhelmingly see the financial crisis as hurting everyone, with 92 percent saying it hurts the nation as a whole. Just 39 percent, however, say the bailout would help everyone, while more than half of those surveyed think it would help only Wall Street.
Americans are cautious about any rush to pass legislation to deal with the economic crisis. Fifty-five percent say they are concerned that Congress will act too quickly, while 40 percent say they are concerned Congress won’t act soon enough. More than half say they prefer that Congress take longer than a few days to work out a plan. But desire for Congress to act may be growing: People interviewed in the last two days, after the stock market’s drop Monday, were slightly less patient than those interviewed last weekend.Read The Complete Poll
Respondents are split over whether the government, in principle, should provide money to financial institutions. Forty-three percent say it should do so, while the same percentage says it should not. A slightly higher percentage, 60 percent, says the government should provide help to struggling homeowners; 35 percent say it should not. And 53 percent say they believe the bailout bill would be a burden on taxpayers, while just 34 percent said it would stop a collapse of the U.S. economy.
When it comes to the presidential election, neither candidate wins majority approval for their role in this crisis. But more see Barack Obama as having a plan, and he gets better marks than John McCain. Forty four percent approve of Obama’s handling of the crisis while 35 percent approve of McCain’s.
Obama is more likely to be seen as having a plan for dealing with the crisis, by a margin of 55 percent to 49 percent. But on the broader issue of the economy, neither candidate has gained ground since last week’s presidential debate. Obama still holds a relative lead over McCain, with 26 percent very confident in Obama on the economy and 15 percent very confident in McCain. Thirty nine percent say they are not confident in Obama’s ability to handle the economy while 50 percent say the same of McCain.
The economy remains the most important issue among registered voters in deciding their vote in November, and it is only becoming more important to them. Now 59 percent of voters name the economy and jobs as their top issue, seven points higher than last week and 19 points higher than in August.
Just 15 percent of Americans approve of the way President Bush is handling the economy, while 78 percent of Americans disapprove. Even a majority of Republicans disapprove of the President’s handling of this issue.
Overall, the president’s approval rating has dropped five points from last week and is now the lowest of his presidency. Only 22 percent of Americans approve of the job he’s doing, while 70 percent of Americans disapprove - a new high.
President Bush’s job approval rating has dropped 68 points from its all time high of 90 percent back in October, 2001. It now matches Harry Truman’s previous all-time low, recorded by Gallup in February 1952. The 70 percent disapproval rating is higher than any measured since Gallup began asking about presidential job approval in 1938.
The job approval for Congress is even lower. Only 15 percent of Americans approve of the way Congress is handling its job - the lowest figure recorded since CBS started asking the question in 1977. Seventy two percent disapprove.
Only about one in four Americans approve of how either the president or Congress is handling the current financial crisis. And Americans are more pessimistic than ever about the state of the economy. Eighty nine percent say the economy is either fairly or very bad while just 10 percent say it is somewhat good, the lowest such percentage ever recorded by CBS News. Zero percent say the economy is very good.
And 76 percent of Americans think the economy is getting worse - the highest percentage ever. Only 2 percent think the economy is getting better, while one in five thinks it is staying the same.
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This poll was conducted among a random sample of 1257 adults nationwide, including 1113 registered voters, interviewed by telephone September 27-30, 2008. Phone numbers were dialed from RDD samples of both standard land-lines and cell phones. The error due to sampling for results based on the entire sample could be plus or minus three percentage points. The error for subgroups is higher.
© MMVIII, CBS Interactive, Inc. All Rights Reserved.
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Read The Complete Poll


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See all 105 CommentsHe is what I have uncovered:
Look at the below link from the Federal Reserve:
It is a spread sheet (csv) that has the interest rates charged to businesses over the last 200 + days you will see that currently they are higher in some categories but in comparison to other peeks they are still in a normal range of flux, indicating that banks are still making loans to credit worthy businesses and those businesses will continue to make payroll and etc due to banks lending to them.
http://www.federalreserve.gov/datadownload/Output.aspx?rel=CP&series=593ce926936cbd64b3c79b960a792b85&lastObs=270&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package http://www.federalreserve.gov/datadownload/Output.aspx?rel=CP&series=593ce926936cbd64b3c79b960a792b85&lastObs=270&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package
As long as the government is supporting a few big banks and keeping them a float short term loans will continue to be made and we will continue or daily lives..
We do not need a bail out! !PERIOD!
My observation of your observation:
SICK, SICK, SICK!!!
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
This is fascism.
And by the way, I am a liberal.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
This is fascism.
And by the way, I am a liberal.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
This is fascism.
And by the way, I am a liberal.
This is propaganda on the part of CBS. This is why the American Press is rated so low in the world. CBS''s question gives the answer the corporatist want. Not do we the people want the bailout, but when do we want it. This is simply propaganda on the part of large financial interests.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
And by the way, I am a liberal.
OBAMA/BIDEN 08''
This is propaganda on the part of CBS. This is why the American Press is rated so low in the world. CBS''s question gives the answer the corporatist want. Not do we the people want the bailout, but when do we want it. This is simply propaganda on the part of large financial interests.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
And by the way, I am a liberal.
This is propaganda on the part of CBS. This is why the American Press is rated so low in the world. CBS''s question gives the answer the corporatist want. Not do we the people want the bailout, but when do we want it. This is simply propaganda on the part of large financial interests.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
And by the way, I am a liberal.
This is propaganda on the part of CBS. This is why the American Press is rated so low in the world. CBS''s question gives the answer the corporatist want. Not do we the people want the bailout, but when do we want it. This is simply propaganda on the part of large financial interests.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
And by the way, I am a liberal.
I''m not entirely fond of the idea, but when Democrats AND Republicans spend hours upon hours to hammer out a reasonable bill, there''s bound to be a good reason. They might be privy to some significant information, not to mention how much money was lost that Monday. Many will be cynical and say "Lobbyists". How do you know there''s not more to the issue? And what evidence do you really have, either way, to prove it?
Even the Republican who said Pelosi was politicizing the issue, hence most of the R''s voting "No" changed his mind.
I think it goes deeper than that...
But if we are a global economy, then surely Europe and every other country participating in the Global Economy should do their part instead of letting the US pitch in all $700 Billion on its own... That''s where I''m confused, but I know I don''t have all the details.
Democracy cannot run on ignorance and we need citizens who have at least a basic understanding of how our government and our economic systems function.
No wonder they''re both broken...[sigh]
This is propaganda on the part of CBS. This is why the American Press is rated so low in the world. CBS''s question gives the answer the corporatist want. Not do we the people want the bailout, but when do we want it. This is simply propaganda on the part of large financial interests.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
And by the way, I am a liberal.
This is propaganda on the part of CBS. This is why the American Press is rated so low in the world. CBS''s question gives the answer the corporatist want. Not do we the people want the bailout, but when do we want it. This is simply propaganda on the part of large financial interests.
It is now being reported that Congress has shut down its email because the calls and emails are 2000 to 1 against the bail out. 2000 to 1!!!!!!
And by the way, I am a liberal.
That is 1000% true! There is no way this bailout bill is anywhere clost to what they say it is. Everyone I talk to is ready to be up in arms on this! CBS, just close your doors! You are an embarressment.
Do something about it before it''s too late! Email your Senator and Congressman and DEMAND they vote NO to Bush''s $700 Billion Bailout to Wall Street Firms! We taxpayers already paid Billions in bailouts for AIG, Bear Stearns and others firms and the market is still whole. Now Politicians come on TV saying the same rehearsed talking points to SELL this fraud to Mainstreet but if it''s so DIRE than WHY are leaders adding Billions in wasteful Pork to the Bill?!
Call your Congress member at (202) 224-3121, or send an email through either of these sites - www.votenobailout.org or www.visi.com/juan/congress
30 years after Reagan cut taxes: the Am Society of Civil engineers graded American infrastructure: D-!!!
They estimate it would take $1.6 trillion IMMEDIATELY just to bring American infrastructure (sewers, bridges, dams, levees, power lines) UP TO CODE!!!!
Supply-side economics: how to fund Chinese clothing, Big Macs, SUVs, monster homes, and obesity by cra*ping on the REAL investments that secure Americas energy independence and can take us, as a nation, into a future: rural electrification, healthcare, bridges, power plants, alternative energy, and all the other boring things that Americans take for granted (if they exist) or are deeply suspicious of having that ''big government, liberal cast'' (if they don''t).
Without the bailout, the fat cats would suffer, too.
So either we can ALL suffer, or ONLY WE can suffer and spare the wealthy who CAUSED this mess.
I vote for ALL suffer.
NO BAILOUT!
I do not swallow the sugar coating they have placed on this rape of America aka - financial bailout of their buddies on Wall Street. We on main street know when something stinks!
i talk to people everywhere i go and ask their opinion
have talked to several dozen folks about the bailout and i have yet to hear one person say they are in favor.
the average person will pay for this bailout of the rich by the ravages of inflation, and taxes which will decrease benefits and wages for decades to come.
NO BAILOUT, NO MEANS NO.
NO BAILOUT
Since you do not understand. NO MEANS NO. NO BAILOUT.
This is what you are doing, have done, and are not doing.
We caught a bunch of crooks in the act of robbing our house, they tortured,raped and killed our spouse, raped our young daughters and sons, killed our dogs and cats, crapped on our floor, they admitted that they did this.
NOW YOU ARE TELLING US TO LET THEM GO, HELP THEM LOAD UP A TRUCK WITH OUR PROPERTY, AND GIVE THEM OUR WALLETS AND LIFE SAVINGS, ARE YOU OUT OF YOUR MINDS?
We need to have anyone dealing with this, accompliances, arrested sent to Guantanimo indefinitely, tried by Military Tribunal, just like the Treasonous Domestic Terrorists that they are, under the Patriot Act.
They accomplished what the 911 Terrorists could not do, "US Economic Crisis", "Pearl Harbor of the US Economy" according to Warren Buffet, "Global War Against Terrorism" per George Bush.
NO BAILOUT. Lynch them. especially those corporate board members that think we don''t know that they bought out Politicians and think they are above the law.
Our allies (Japanese, Germans, British, etc), think this bailout is a bailout of the Corporate Board Members that caused the US Economic Crisis. No punishment means NO CONFIDENCE IN US Political System, US Economy by our Allies.
Loose CREDIT is what has put us into huge mess. CREDIT needs tightened up and we need to bite the bullet.
America needs to flush its credit culture down the toilet along with those that thrive on making money from it. We will be in a major recession next year and the year after regardless of the bailout. The bailout just makes it longer and deeper and rewards those who created it.
Tell them their "yes" vote on this = a "no" vote for them come election time.
2/3 of the Senate is not up for re-election this year and can hope people forget about their vote in the next couple of years. So how many of those who are up for re-election this year voted for the bailout?
I call on the american people to cast every vote they have over the next 6 years AGAINST EVERY CURRENT MEMBER OF CONGRESS. Don''''t even think about an individuals competency, just replace them all.
The ONLY chance we have to get out of this mess is to eliminate every single politician that have shown themselves completely unable to function for the good of the country - it always starts with "what''''s in it for me" or how can I twist a horrific situation for US citizens into political gain for myself.
GET RID OF EVERY ONE OF THEM.
I know that politician''''s add pork to bills, but this can''''t be true can it? That would be so insane to do that I want to say that it must be untrue. Is it?
That would be such a slap in the face to the people that they should march with torches burning to the office of whoever did it and drive them out of Washington before sunset.
manufacturers of children''s wooden arrows
Puerto Rican rum distillers
wool research
& auto race track construction
This is obscene and these people need to be driven out, not voted out of Washington.
Do you want to take money from me that I worked very hard for and give it to millionaires who bribed you to gut financial regulations, and then who gambled on risky shell game deals and ended up with worthless subprime mortgage backed paper?
If so:
Go ahead.
Make.
My.
Day.
See you on November 4th. In the polling booth.
Buh-bye!
I call on the american people to cast every vote they have over the next 6 years AGAINST EVERY CURRENT MEMBER OF CONGRESS. Don''t even think about an individuals competency, just replace them all.
The ONLY chance we have to get out of this mess is to eliminate every single politician that have shown themselves completely unable to function for the good of the country - it always starts with "what''s in it for me" or how can I twist a horrific situation for US citizens into political gain for myself.
GET RID OF EVERY ONE OF THEM.
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Posted by godseyesore at
It''s all based on the same theory: "Trickle Down"
The Taxpayer might get some in the end. So far, NONE of the "Trickle Down" has ever trickled down to the end as stated. Nothing at all...
Us Tax payers will end up holding the bag on this one.
Now, if they wrote in the bill that NO BANK OR INSTITUTION WILL HAVE ANY PROFITS UNTIL THE MONEY IS PAID BACK - WITH INTEREST. then I''m all for it...
but I bet you wouldn''t ever find that language in the bill...
another thing: I bet once it does pass and we buy up all the garbage debt, that our stocks won''t bounce back and it won''t be easier to get credit. The banks will not loan money anywhere near where they used to...
We''re still F''d and a lot poorer
I call on the american people to cast every vote they have over the next 6 years AGAINST EVERY CURRENT MEMBER OF CONGRESS. Don''t confuse the issue thinking about an individuals competency or that of the replacement, just replace them all.
The ONLY chance we have to get out of this mess is to eliminate every single politician that have shown themselves completely unable to function for the good of the country - it always starts with "what''s in it for me" or how can I twist a horrific situation for US citizens into political gain for myself.
GET RID OF EVERY ONE OF THEM.
Send a bailout to struggling homeowners so they can pay the bank, or buy gas so they can pay the bank, or however you want to look at it. That''s how an economy works.
If you bailout the banks, their customers still won''t be able to meet payments.
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