Poll Finds Widespread Pessimism About U.S.

CBS News/New York Times Survey Shows Vast Majority Believe Country On Wrong Track, Little Support For Bailout Plan, Congress

(CBS)  Across the country, there is widespread pessimism about Congress, the economic bailout plan, and the direction of the country, a new CBS News/New York Times poll finds.

Nearly nine in ten Americans - a record high - now believe the country is on the wrong track, surpassing the high of 83 percent reached in May. Just 7 percent say the country is headed in the right direction.

Approval of Congress, meanwhile, is at a record low. Just 12 percent now approve of the job Congress is doing, and for the first time in 30 years, fewer than half approves of the job their own representative is doing. President Bush's overall approval rating stands at 24 percent, close to its all-time low.

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Read The Complete CBS News/NY Times Poll On The Economy

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Americans disapprove of the $700 billion economic bailout bill passed by Congress and signed into law by President Bush earlier this month by a nearly two-to-one margin. Just 28 percent approve of the bailout plan, down three points from last week. A majority - 53 percent - disapprove, while 19 percent say they don't know.

Americans have low expectations for the plan. Only about one in three believes the bill will be effective, while a slightly higher percentage - 38 percent - believe it will have no impact. Fifteen percent believe it will make things worse.

And they continue to believe that the bailout plan will aid a few big investors and people on Wall Street, not the whole country. Sixty-three percent say the plan will just benefit Wall Street, up from 54 percent when the plan was first proposed about two weeks ago. Just 28 percent believe it will benefit homeowners and people across the country.

While a majority of Americans support the notion of the federal government offering to help homeowners struggling to pay their mortgages, support has waned. Early in October, six in 10 Americans approved of that idea. Support has dropped to about half now, and 38 percent disapprove. Democrats are more likely than Republicans to support the idea.

Perceptions of the nation's economy - which 57 percent of voters say is the most important issue in deciding whom to support for president - are extremely negative. Zero percent of Americans describe the condition of the economy as "very good," and just 11 percent call it "somewhat good." Thirty-eight percent describe it as "fairly bad," while half describe it as "very bad."

Two-thirds expect the economy to get worse, a slight improvement from last week, when three in four said as much. Just 5 percent believe the economy is improving.

Disapproval of the bailout plan appears to have taken a toll on public opinion of Congress. Now only 12 percent of Americans approve of the way Congress is handling its job, another record low following the 15 percent approval rating recorded last week. A record 74 percent of Americans disapprove, including large majorities of Democrats, Republicans, and independents alike.

Americans have historically been more likely to approve of their own representative in Congress than of Congress as a whole, and they still do. But the percentage of Americans who approve of the job their representative is doing - now 43 percent - has dipped below 50 percent for the first time since the question was first asked over 30 years ago. Thirty-one percent disapprove of their representative's performance.

Mr. Bush's approval rating on the economy, at 18 percent, is lower than his overall 24 percent approval rating. And Americans' faith in government has diminished. Nearly three in four now trust the government to do the right thing only some of the time; about one in ten volunteers that they can never trust Washington to do what is right.

The last time public trust in government was this low was in late 1994 and early 1995 -- around the time of the Republican takeover of Congress and the shutdown of the government after an impasse over the federal budget.

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This poll was conducted among a random sample of 1,070 adults nationwide, including 972 registered voters, interviewed by telephone October 10-13, 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 and the sample of registered voters could be plus or minus three percentage points. The error for subgroups is higher.

[upto1947]

Let face it. The U.S. is going down, all becaus we send the same dumb A&& to congrees year after year. Those that are there must all go.

[harbinger09]

"It''''''''s not that I want to punish your success. I just want to make sure that everybody who is behind you, that they''''''''ve got a chance for success too," Obama responded. "My attitude is that if the economy''''''''s good for folks from the bottom up, it''''''''s gonna be good for everybody ... I think when you spread the wealth around, it''''''''s good for everybody."

Posted by mbourn2 at 12:55 PM : Oct 15, 2008


Obama is right. Which generates more income--10 rich people buying stuff or 10,000 people buying stuff. The rich can only spend so much --but if people are the engine that drive the economy, then the more people that have the money to spend , the more businesses get.

[harbinger09]

balanced budget was due to revenues from good economy and came about later.
Posted by hootal2 at 11:21 AM : Oct 15, 2008

Wrong. I agree Clinton deserves very little credit for the surplus--but it was not just for the reasons you named.
The 3 most important reasons for the surplus are:

1. The tax increase enacted under Bush Sr just before he was not reelected
2. A Republican Congress insisting on huge government cuts which the Dems opposed but Clinton agreed to.
3. Dot com bubble

To Clinton''s credit, he did not spend all of the surplus--but it was during the Clinton years (and before?) when someone got the great idea of borrowing from Social Security payment surpluses and not paying them back--deciding at some point to never pay the program back and just tell us all that the program was bankrupt. SS would not be bankrupt if Congress was forced to cut the fat and repay SS with interest all the money that was set aside for it.
By the way--no one got a tax cut under Bush--because while the "federal rate" was cut, FICA was not and FICA is nothing more than the part of the Federal tax supposedly set aside for SS, medicare, etc. but really the gov just spends it like it does the rest of the money.

[harbinger09]

HE11 NO - Barack Hussein Obama said that my taxers (less than $250,000) would go down. What is he already hedging this lie. What a buch of BS. I knew this SPINNER was lying through his teeth just like most of the other Spinners I have met in my life.
ONE SHOT - ONE ?

Posted by PollsLie at 10:42 AM : Oct 15, 2008


That''s not even cute or funny--Heightened sensitivity and awareness on assassination threats right now, could net you a visit from the FBI and yes, they do know how to trace to the computer you are on. Grow up--this is not one of McCain or Palin''s rallies.

[harbinger09]

Bush hasn''''t given me a thing but those paltry rebate checks that did little but drain the national coffers of funds needed for roads and other infrastructure projects. I''''m all for Obama''''s plan to even the playing field, so folks like you WILL pay your fair share of taxes for a welcome change. God forbid you have to contribute to the roads, schools, military, and emergency services you benefit from. Greedy people are so shallow.

Posted by kevboom at 11:32 AM : Oct 15, 2008

Why are you paying 30 to 35%? Those rates are not in effect right now. My husband and I make over 150K but less than 250K--we are in that 28% bracket due to Bush''s cuts--and of course to be in that high bracket--we do NOT get a rebate check. if you pay 30 to 35%, you must make more than us--how did you get a rebate check?

[whosaid1]

Pessimism...??? Well hell yes !! Only 12% approve of the job congress is doing and less than 50% approve of the person they elected!!! And to top it off, it looks like a socialist from the controlling party of congress is going to be elected the president. Maybe %u201Cout and out%u201D fear is a more appropriate word....

[john43218]

In Obama''s own words:"I found a solace in nursing a pervasive sense of grievance against my mother''s race...it remained necessary to prove which side you were on,to show your loyalty to the black masses,to strike out and name names."..from "Dreams from My Father".(Which may as well be,"Lies From My Father",as it appears the "ghostwriter" may be none other than Bill Ayers.) The second quote comes from,"The Audacity of Hope":"I will stand with the Muslims should the political winds shift in an ugly direction." Some people just might find those comments more than a little racially tinged.

Gee, I wonder why America is negative. they weren''t until Obama came along.

[mbourn2]

Maybe Obama is on to something! We need to tax the heck out of those rich..... plumbers??? If CBS did this story I must have missed it...

---------------
Barack Obama told a tax-burdened plumber over the weekend that his economic philosophy is to "spread the wealth around" -- a comment that may only draw fire from riled-up John McCain supporters who have taken to calling Obama a "socialist" at the Republican''''s rallies.

Obama made the remark, caught on camera, after fielding some tough questions from the plumber Sunday in Ohio, where the Democratic candidate canvassed neighborhoods and encouraged residents to vote early.

"Your new tax plan is going to tax me more, isn''''t it?" the plumber asked, complaining that he was being taxed "more and more for fulfilling the American dream."

"It''''s not that I want to punish your success. I just want to make sure that everybody who is behind you, that they''''ve got a chance for success too," Obama responded. "My attitude is that if the economy''''s good for folks from the bottom up, it''''s gonna be good for everybody ... I think when you spread the wealth around, it''''s good for everybody."

[renonv5]

Pessimism?? I am so surprised.............

We just flat out do not trust this government any longer and we don''t believe a single thing any politician says. It''s as simple as that.

[kevboom]

"I personally have been very appreciative of the fact I have not had to pay a dimes worth of federal income tax in the past five years thanks to G.W. Bush removing 40% of us middle class Americans from the tax rolls."

What? You''re either not middle class, or you''re benefiting from some serious bending of the deduction rules like a realtor I used to work for. I''m upper middle class, and pay a solid 30-35% of my income to taxes after deductions. Bush hasn''t given me a thing but those paltry rebate checks that did little but drain the national coffers of funds needed for roads and other infrastructure projects. I''m all for Obama''s plan to even the playing field, so folks like you WILL pay your fair share of taxes for a welcome change. God forbid you have to contribute to the roads, schools, military, and emergency services you benefit from. Greedy people are so shallow.

[hootal2]

Royalia, don''t forget you had a chance to nominate the Clintons again and chose not to do that. why bring up Clintons? Bush is gone so we might as well look ahead of that idiot!

[jbright9]

Thankfully the Bush era is about over. What a terrible mess the new administration is left with. We all are going to have to work together to return America to its former status in the world. We are going to have to show true patriotism by making some real sacrifices to help us regain our strength. Flying an American flag or placing a yellow support our troops ribbon on our cars is going to have to be supported with real love of country and all of us working together to be the best we can be.

[hootal2]

And don''''t forget that Clinton BALANCED THE BUDGET! And the 1990s economy was VERY GOOD, which helped balance the budget. But I''''m sure you''''ll tell me how the great economy of the 90s was due to Reagan.


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Posted by royalia at 10:37 AM : Oct 15, 2008
not all due to Reagan/Bush, but it is a fact that we were already in economic expansion when Clinton took office. he claims credit for everything. balanced budget was due to revenues from good economy and came about later. the economy went immediately into recession when he left. cycles, we go through them. tech bubble anyone? Can''t claim the credit for the good and blame others for the bad.

[pollslie]

"I have not had to pay a dimes worth of federal income tax in the past five years thanks to G.W. Bush removing 40% of us middle class Americans from the tax rolls."
The you should be arrested for not paying your taxes, right? And if you haven''''t noticed, GW Bush and Congress have doubled the national debt over the last 8 years. Our government must cut spending AND will probably HAVE to raise taxes to get this *** under control. Both candidates are lying if they think we don''''t need at least a minimal increase in taxes at some point.
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Posted by royalia

HE11 NO - Barack Hussein Obama said that my taxers (less than $250,000) would go down. What is he already hedging this lie. What a buch of BS. I knew this SPINNER was lying through his teeth just like most of the other Spinners I have met in my life.
ONE SHOT - ONE ?

[royalia]

And don''t forget that Clinton BALANCED THE BUDGET! And the 1990s economy was VERY GOOD, which helped balance the budget. But I''m sure you''ll tell me how the great economy of the 90s was due to Reagan.

[royalia]

"I have not had to pay a dimes worth of federal income tax in the past five years thanks to G.W. Bush removing 40% of us middle class Americans from the tax rolls."

The you should be arrested for not paying your taxes, right? And if you haven''t noticed, GW Bush and Congress have doubled the national debt over the last 8 years. Our government must cut spending AND will probably HAVE to raise taxes to get this *** under control. Both candidates are lying if they think we don''t need at least a minimal increase in taxes at some point.

[royalia]

Thank you BB if Florida for providing the actual quotes from Obama.

[repforbarack]

Man I''m soooo excited! Obama is going to be the next president...the world has something to celebrate :)


RealClearPolitics Poll Averages
General Election: McCain vs. Obama

RCP Average 10/07 - 10/14 -- 50.1 42.1 Obama +8.0

Reuters/C-Span/Zogby Tracking 10/12 - 10/14 1210 LV 48 44 Obama 4
LA Times/Bloomberg 10/10 - 10/13 1030 LV 50 41 Obama 9
CBS News/NY Times 10/10 - 10/13 699 LV 53 39 Obama 14
Rasmussen Tracking 10/11 - 10/13 3000 LV 50 45 Obama 5
Hotline/FD Tracking 10/11 - 10/13 829 LV 48 42 Obama 6
Gallup Tracking (Traditional)* 10/11 - 10/13 2140 LV 51 45 Obama 6
Gallup Tracking (Expanded)* 10/11 - 10/13 2289 LV 53 43 Obama 10
GW/Battleground Tracking 10/08 - 10/13 800 LV 53 40 Obama 13
IBD/TIPP Tracking 10/07 - 10/13 825 LV 45 42 Obama 3
USA Today/Gallup (Traditional)* 10/10 - 10/12 761 LV 50 46 Obama 4
USA Today/Gallup (Expanded)* 10/10 - 10/12 1030 LV 52 45 Obama 7
ABC News/Wash Post 10/08 - 10/11 766 LV 53 43 Obama 10


"Rasmussen Markets data shows Obama is given a 80.2% chance of winning in November"

[liberalme]

Wanda Sites said it best on Leno---

http://jezebel.com/tag/wanda-sykes-bailout/

[craigh9]

America,

Let''s start a five year effort beginning with this election. VOTE AGAINST absolutely every member of government seated today. Be it national office, state, or local. We need a 100% replacement of each and every one of them. Experience in government is just code for - I know how to line my pockets and walk a fine enough line to continually get re-elected. If we get rid of every last one then maybe the general culture of our elected officials will move from the current "what''s in it for me" to "what''s in the best interest of the people I serve.
Don''t be fooled by thinking YOUR representative is different or hypnotized by the amount of PORK they bring to your area. Get rid of every seated politican and maybe from 2014 forward we will have a fighting chance.