The majority of Americans do not want to spend any more money on the bailouts simply because it is not working. Originally, Congress voted down the bailout bill in October and followed the will of the people. Of course, they later approved it with no real reason why. Now that half the money is spent, even more Americans do not want to stay the course. The Senate went ahead and approved the rest of the money to be spent against the will of the people.
The government’s financial bailout for troubled banks has not worked so far, a majority of respondents to a national poll say, and six in 10 don’t want Washington to spend more money on the rescue.
Sixty-one percent of those questioned in a CNN/Opinion Research Corporation survey released Friday oppose providing more government money in the financial bailout. There are some supporters, however — 38% said the government should provide more assistance to ailing banks and other financial institutions.
Most of the 1,245 adult Americans who were questioned for the poll were surveyed before Thursday’s Senate vote to release the remaining $350 billion in the financial bailout program.
“One reason for the opposition to more money being spent may be that more than eight in 10 said that the first $350 billion of taxpayer money for the bailout didn’t work,” said CNN Polling Director Keating Holland. “Only 14% say that the money accomplished what it was supposed to do.”
Regardless of the apparent public opposition to the bailout, the Senate voted 52 to 42 to release the remaining funds.
Americans want real solutions and they don’t want to fall further into debt by increasing the federal debt. In the movie I.O.USA, federal debts are explained in a non-partisan way and the effects on the economy. Apparently, we are feeling those effects now in this severe recession. Check out the 30 minute version of the movie I.O.USA here.
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Hi! Hoping you had a great Christmas! I only know what I know about the American Bailouts by what I read in the paper. I suppose they have to try something to get things back on their feet. The same type of thing is happening in Australia. Recently Prime Minister Rudd handed out $1000 to those that meet the criteria.
My only question at the moment is where are they getting the money from?
I do hope things improve here, America and elsewhere.
Perhaps praying may help!
Wishing you a prosperous 2009 and beyond – Peter
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