Poll: Public Supports Aid To Homeowners

CBS News Survey Finds Far More Back Helping Those In Housing Market Than Banks Or Automakers

(CBS)  Americans are making clear distinctions between the Obama Administration’s proposals to assist various sectors of the economy, according to a new CBS News poll.

While a majority favors assisting struggling homeowners, most of those polled do not support additional federal assistance for U.S. automakers or for banks and financial institutions.

More than half of Americans are relieved that President Obama's polices might help homeowners avoid foreclosure, but an even higher percentage are resentful of assistance for financial institutions and automakers.

Most do not believe additional assistance for U.S. automakers is necessary. The public is more divided over the necessity of bailing out financial institutions in order to help get the economy out of this recession.

A majority does believe, however, that providing government money to struggling homeowners is necessary to help improve the housing market.

Specifically, when it comes to the government providing financial assistance to homeowners, 71 percent of Americans approve while 25 percent disapprove. Fifty-seven percent say government help to homeowners is necessary and fifty-five percent say they are relieved that homeowners are getting assistance.

On the other side, 36 percent say the housing market would improve without assistance and an identical percentage say that they are resentful of homeowners getting aid.

Americans do not believe that banks and automakers need government assistance. Forty-eight percent thinks banks will recover without it, and 58 percent say the same about the automakers. Forty-eight percent are likewise resentful of the aid to the banks, and 45 percent are resentful of the automaker aid.

Just 37 percent of Americans say they support additional money to the banks, and less than half of that - 18 percent - say they support additional aid to automakers.

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Read more on the public's feelings about bailouts to the banks and to the automakers.

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Few say the current problems with the nation’s banks and car companies are due to economic conditions beyond the banks or automakers’ control. Most say that the problems are the result of decisions made by company management.

Americans appear to be more sympathetic to homeowners, but many don't think they are without blame. Forty-two percent blame the homeowners' own financial decisions for the trouble they are having with their mortgages, while 40 percent say the problems are the result of economic conditions outside homeowners’ control.



Despite the opposition to bailouts and continuing crises in the economy, the president's overall job approval rating is holding steady at 62 percent. At this point in his first term, George W. Bush's approval rating was 60 percent.

The partisan divide that existed throughout the latter part of George W. Bush's presidency (and the Clinton presidency) is evident now as well. Mr. Obama’s approval rating is extremely high among members of his party (90 percent) and is also fairly high (58 percent) among independents, but it is much lower among Republicans, at 23 percent.





On the economy specifically, 56 percent approve of the job Mr. Obama is doing, while 33 disapprove. That is little changed from last month.

Americans continue to believe it will take some time for the Obama Administration to fix the economy. Fifty percent think it will take one or two years to do so, and 60 percent say that they are willing to be patient with the Obama administration and wait that year or two for his economic plans to work. Just 19 percent say they have the patience to wait more than two years.

Just under half of Americans see the president’s economic plans as helping their families. One in four think those policies will hurt their families, and another quarter say they won’t affect their family one way or another. Those with higher incomes and Republicans are more likely to say his plans will hurt their families.

Other Highlights From The Poll:

• The percentage saying the nation is heading in the "right direction" continues to climb, though it is still low by historical standards. Today 35 percent say the country is on the right track, the highest that figure has been in over two years. Fifty-seven percent say the country is on the wrong track.



• Americans continue to express overwhelmingly negative assessments of the economy: nearly nine in ten say the economy is in bad shape. Just 12 percent think the economy is even fairly good.
  
  But there are signs of hope. While 41 percent of Americans think the economy is getting worse, that’s a smaller percentage than said so last month (51 percent). The percentage who thinks it is getting better, while small, has more than doubled -- from 8 percent then to 19 percent now.



• As Mr. Obama has laid out plans for removing troops from Iraq, his ratings for handling that issue have risen: today 61 percent approve of his handling Iraq, up from 54 percent a few weeks ago. Twenty-three percent disapprove of his handling of Iraq.



• First Lady Michelle Obama, Vice President Joe Biden and Secretary of State Hillary Clinton all have positive net approval ratings. Clinton receives her highest favorable rating ever in this poll, with 58 percent of Americans viewing her favorably, more than did so when she was a presidential candidate or first lady. Michelle Obama is viewed favorably by 53 percent of Americans - also an all-time high. Biden's approval rating stands at 23 percent, with 15 percent saying they disapprove of him and 61 percent saying they don’t know or haven't heard enough.



• Three in 10 approve of the way Congress overall is doing its job while 56 percent disapprove. Generally positive views of Democrats in Congress have not translated into a positive opinion of Speaker of the House Nancy Pelosi. By about two to one, Americans have an unfavorable opinion of Pelosi, though nearly half of all Americans haven’t formed an opinion either way. (Read more about what the poll says about views of Congress.)



• Conservative radio commentator Rush Limbaugh has recently attacked both the Obama Administration and the Republican leadership. Although only one in five Americans has a favorable opinion of Limbaugh, he remains popular with 47 percent of Republicans. (Read more about what the poll says about views of Limbaugh and Republicans)



• The poll also asked about legislation Congress is considering legislation, commonly referred to as "card check," that would allow people to form a union by publicly signing a card, without a secret ballot vote. Thirty-eight percent favor allowing people to form a union by publicly signing a card without a secret ballot, but more - 45 percent - are opposed.
  
  Opposition to this legislation may stem from the opinion that unions have too much influence on American life and politics today, a view held by nearly half the public - 47 percent. Eighteen percent think labor unions have too little influence, while about a quarter think they have about the right influence on American life and politics.

Read The Complete Poll (PDF)

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This poll was conducted among a random sample of 1142 adults nationwide, interviewed by telephone March 12-16, 2009. 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.

This poll release conforms to the Standards of Disclosure of the National Council on Public Polls.

[wardoglrs]

The problem with a debt-based Keynes,economic system, found in the Federal Reserve and its cousins around the world, is the moment it goes into creation, more money is owed than actually exists. The more money which is created (out of thin air) in response to loans, the more money which does not exist is owed.
Simply put, if there is 1,000,000 in circulation, then 1,050,000 is owed to the Federal Reserve. a recession is when nobody can come up with that extra $50,000, but then again, it never existed in the first place.

As long as an ever larger pool of borrowers can be found to create more new money to pay the interest on the older loans, the system will grow, but eventually you run out of new borrowers, which is what has happened by design.In their desperation to keep things going, the bankers encouraged everyone to do their finances on credit rather than on cash. Stores borrow the money to stock their shelves, shippers borrow the money to fuel cargo ships, all of it running up the tally of money owed to the banks; money that does not and never did actually exist.


The Federal Reserve Bank who controls the supply and movement of FRNs has everybody fooled. They have access to an unlimited supply of FRNs, paying only for the printing costs of what they need. FRNs are nothing more than promissory notes for U.S. Treasury securities (T-Bills) - a promise to pay the debt to the Federal Reserve Bank.

There is a fundamental difference between "paying" and "discharging" a
debt. To pay a debt, you must pay with value or substance (i.e. gold,
silver, barter or a commodity). With FRNs, you can only discharge a debt.

You cannot pay a debt with a debt currency system. You cannot service a debt with a currency that has no backing in value or substance.

So, all a recession is is the banks demanding that interest money and nobody being able to find it... because it never existed.

By this means [printing money] government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft. John Maynard Keynes 1883-1946 British economist

The fact is that the US financial system is fundamentally flawed in that the moment the Federal Reserve started issuing debt-based notes, more money is owed to the bank than is actually in existence. The system works only so long as new borrowers can be found to allow creation of new paper money which is used to pay the older interest debts. When people stop borrowing, as they did when the US Government handed tax credits top corporations to send US jobs to other countries, then the whole pyramid scheme starts to collapse, which is what is happening now.

What the bailouts amount to is the government borrowing ON Y0UR BEHALF (AND WITHOUT YOUR PERMISSION), to create the new money to cover the current outstanding debts by the banks.

But it is not a permanent solution. In fact, it will make the eventual crash far worse, because there is interest owed on the money 'Obushma' has borrowed for the bailouts, and the money to cover that interest doesn't exist!

About all the bailouts are doing is clearing up the books at the financial institutions by dumping that toxic debt on YOU!

[wardoglrs]

At 2:20 the big ugly secret comes out. Within an hour, some $550 billion was electronically withdrawn from the money market accounts. The claim is that had the government not blocked further withdrawals and stared poffering guarantees, the US and World economies would have been collapsed.

Wall Street knew they were in trouble. The American people were no longer asking for new loans that could create new money that would be used to pay the interest on old loans. Collapse was imminent, and worse, the American people rightly blamed the financial shysters for their poverty. People were starting to sue the mortgage lenders and the mortgage-back securities fraudsters.

So the investment banks and brokerages and loan companies pulled off a scam. Working through overseas "cut-outs" they yanked $500 billion dollars to put a scare into the US Government, then turned around and warned that if the bailout was not passed, they would collapse the US economy itself and shift the blame onto the government.

This theory explains the absolute total panic we saw in Congress as they ramrodded through the first bailout despite overwhelming taxpayer opposition.

And the problem is that is this theory is correct, and the Wall Street "Bernies" are blackmailing the US Government with their own financial doomsday weapon, then the bailouts will continue, as blackmailers never stop on their own.

This may be why, even as Congress passes this most recent bailout, word is already coming from the White House that yet another trillion and a half bailout is already being planned.

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With the exception only of the period of the gold standard,all governments of history have used their exclusive power to issue paper to defraud and plunder the people. Friedrich Von Hayek

[sjc_1]

"...Poor, sad, ignorant, greedy, selfish individuals."

Conservatives have blind faith in Adam Smith and the invisible hand. There is no helping hand needed, that would cost them money. It is the selfishness and greed of the individual that is to be upheld. In their money centered world, it is the selfishness and greed of the individual that will bring general well being to society. Although they can not show one instance where this is true and sustainable, blind belief carries on generation after generation. It is the indoctrination of their children that is important to keep that commie rabble down.

[kfor777]

Where are these polls? I've never been seen or participated in a CBS poll. Who are they polling?

[ioweign]

Another poll taken at the welfare office.....way to go liberal media, and you say that you're not biased.
Posted by dongo3 at 4:35 AM : Mar 19, 2009


The office located at 1 Wall Street, New York , NY 10005-2500

[ioweign]

The real question is why did the republicans push so hard to deregulate the banking industry, that even illegal immigrants can get mortgages?
Posted by hungry1968-15 at 10:04 PM : Mar 17, 2009


Greed

[kirstinharr]

I wasn't polled on this topic. I did everything honestly. Twenty percent down payment, full documentation to qualify for the loan, paid on time and when the value went down, ONLY I lost money on the house. Mortgage lender was insulated. Where is my bailout??

[sjc_1]

Most of the speculators have been rung out of the system the last few years. This is the third wave of foreclosures, the ones brought on by the financial collapse and unemployment. Keeping houses from being foreclosed will help stem the MBS/CDO/CDS mess that is at the root of the problem.

[mjvwsr]

In Obama's outrage over AIG bonuses the spoke against "rewarding failure" This sounds a lot like "rewarding failure"

[Correct247]

More than likely, those that are having problems with their mortage or those who have lost their jobs. That number is about 80%. Its amazing how people are so judgemental without really knowing the facts --- even as we witness today, in our local an statewide news reports, we can see how the crooks, monsters, perpetrators, and greed in this country is what has set this entire country in a financial demise.

Are you watching the news? Do you unerstand what got this country in such a mess? You obvious don't understand the politics that were and, still are involved in the collapse of our financial systems. You are still trying to point fingers at only 10% of those that may have lived above their means after they purchased their homes.

What about the 80% that did not --- and are only having problems because they are unemployed. There are some households, where both of the borrowers are unemployed. Did they save for hard times? Probably so, but, anyone with a half of a brain will tell you, that your savings cannot last forever. In fact, the savings goes faster when you have to leave off of it than it does to accmulate the savings. It may have taken many years to save money that now you can only live off for a matter of months.

Ask yourself this question, can "YOU" survive off your savings, if you can't find a job for more than twelve months. It just may happen to you. So be very careful about the negative information you post without "first hand" knowledge of an individual situation. Don't assume that everyone lived above their means.

There are over 4 million people out of work in this country. Maybe 10% of them may have lived above their means. But, why purnish everyone!

Please check out www.bls.gov to get the statistics on the unemployed in this country It was 8.1% as of 02/28/09, it was 4.8% that same time last year and 4.5% in 2006.

Of course, we will have to wait until the end of the month to get those statistics of the unemployed for March 2009.

[Correct247]

More than likely, those that are having problems with their mortage or those who have lost their jobs. That number is about 80%. Its amazing how people are so judgemental without really knowing the facts --- even as we witness today, is our local an statewide news reports, we can see how the crooks, monsters, perpetrators, and greed in this country is what has set this entire country in a financial demise.

Are you watching the news? Do you unerstand what got this country in such a mess. You obvious don't understand the politics that were and, still iare involved in the collapse of our financial systems. You are still trying to point fingers at only 10% of those that have lived above their means after they purchased their homes.

What about the 80% that did not --- and are only having problems because they are unemployed. There are some householes, where both of the borrowers are unemployed. Did they save for hard times? Probably so, but, anyone with a half of a brain will tell you that your savings cannot last forever. In fact, the savings goes faster when you have to leave off of it than it does to accmulate. It may have taken many years to save money that now you can only live off for a matter of months.

Ask yourself this question, can you survive off your savings, if you can't find a job for more than twelve months. It just may happen to you. So be very careful about the negative information you post without "first hand" knowledge of an individual situation. Don't assumed that everyone lived above their means.

There are over 4 million people out of work in this country. Maybe 10% of them may have lived above their means.

Check out www.bls.gov to get the statistics on the unemployment in this country It was 8.1% as of 02/28/09, it was 4.8% that same time last year and 4.5% in 2006.

We will have to wait until the end of March to get those statistics.

[iam4honesty]

Isn't it interesting that approximately the same number of people who still approve of Bush (about 25%) say they would see their brothers and sisters living in the streets than give them a helping hand. I suppose that element will always be around. Poor, sad, ignorant, greedy, selfish individuals.

[charlie448]

You can make any poll you want to come out the way you want it to. Ask the right question and you can get the answer you want. If you ask someone if they want a million dollars they would say yes but if you told the whole story that you have to pay it back at interest rates the answer would be a lot different.

[mars7578]

I find it amazing how shortsighted so many people are.They always find a way to be very childish.They sound like the psych patient on the couch.They seems to view themselves as venting victims.Being critical is one thing. but these people are have adopted the mindset of dispair.They see other options as a threat.They need to realize that their ideas will not be always chosen and it does'nt mean doom for everyone.AMERICA voted for change, changes are coming whether they like it or not.Either growup or get a lot of tissue.

[craigh41]

I think assistance is appropriate - I dislike the term aid and believe the homeowner in trouble should only be supported to meet his current obligation - not a reduction in principle. By all means help them get reduced, fixed rate mortgages and/or extend the length of their mortgage in order to make the monthly payment more reasonable. HOWEVER, you CANNOT forgive principle - otherwise my neighbor that has the same home as me that got in over his head would ultimately pay considerably less for his then I did when I actually did the right thing - to allow that to happen would be wholly inappropriate.

[shawshank22]

If there is to be a bailout for irresponsible home "buyers"..........Then lets have one for renters .also..............Lets just bail everyone out..................why not inmates in jail?

[catlmi1]

I propose you 'poll' some folks who are NOT getting favorable treatment for buying a 500k house with a Mcdonald's salary. Then see what the 'results' would be !

[mav547166]

Im ok helping people out, but there should be a way to distinguish the person that was living within their means, and those that lived high on the hog till the credit ran out.

[msmabuse]

No I do not support this kind of welfare !!!

If you cant afford your house, sell it and move on !

Do not look for a hand out to keep up with the Jones?s

If we help every one who either lied or could not read a contract, we will all lose our homes !!!

And then I suppose Obama will be happy because we will all be poor and that?s fair and balanced !

[formrusmcsgt]

I wake up every day and hope that the communist dictator Obama who is destroying the working man will have choked on his own vomit. I'll just keep praying and maybe my dream will come true. It would be a great Christmas present and plus Obama's a Democrat so he worships Satan.
Posted by dongo3 at 2:07 AM : Mar 18, 2009

Your mother must be proud.....