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Tepid Public Approval for Fed Action

By Jon Cohen
Federal officials attempting to deal with the crisis on Wall Street are facing not only Capitol Hill questioners but also a skeptical public.

A Washington Post-ABC News poll conducted Friday through Monday shows a roughly even divide on the recent steps taken by the Federal Reserve and the Treasury Department -- 44 percent approve and 42 percent disapprove of their actions. At this stage, there are twice as many holding strongly negative as strongly positive views of the government response to the financial crisis (18 percent to 9 percent).

There is little partisan divide on this question, however. Approval is under 50 percent among Republicans (49 percent), independents (46 percent) and Democrats (42 percent). Similarly, there are few differences along income lines.

The full results of the poll will be available at midnight.

Posted at 3:39 PM ET on Sep 23, 2008  | Category:  The Pollster
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To my fellow Americans......

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in
a We Deserve It Dividend!

To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18+ into $85 billion that equals
$425,000.00.

My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.

Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed
Forces.

If we're going to redistribute wealth let's really do it...

If we're going to do an $85 billion bailout, let's bail out every adult
U S Citizen 18+!

As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.'

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in
Washington DC .

And remember, this plan only really costs $59.5 Billion because $25.5
Billion is returned
instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

PS: Feel free to pass this along to your pals as it's either good for
a laugh or a tear or a very sobering thought on how to best use $85
Billion!!

Posted by: pinetreeplace | September 28, 2008 9:55 AM

I believe this is the time for all good men to come to the aid of their country.

NO BAILOUT.

If there is going to be a mushroom cloud, so be it. We will make it.

Wall Street played and we all danced! Now we all sacrifice. We will make it.

NO BAILOUT

Posted by: Christine | September 23, 2008 8:24 PM

"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself."

http://politicalwire.com/archives/2008/09/23/extra_bonus_quote_of_the_day.html
.
The 2008 Republican Party Platform, adopted earlier this month

Posted by: oops! | September 23, 2008 6:38 PM

MCCAIN = FAKE CONSERVATIVE

MCCAIN = FAKE CONSERVATIVE

MCCAIN = FAKE CONSERVATIVE


Conservative columnist George Will's words today on John McCain:

"It is arguable that McCain, because of his boiling moralism and bottomless reservoir of certitudes, is not suited to the presidency. Unreadiness can be corrected, although perhaps at great cost, by experience. Can a dismaying temperament be fixed? "


MCCAIN = FAKE CONSERVATIVE

MCCAIN = FAKE CONSERVATIVE

MCCAIN = FAKE CONSERVATIVE

Posted by: Another "tricked again" conservative | September 23, 2008 6:31 PM

Scott,

Thanks for pointing out that Obama can admit his campaign's mistakes.

I wish McCain had that courage (and honesty)!

Posted by: Carol | September 23, 2008 5:52 PM

Barack Obama
NBC's "Today"
September 23, 2008

NBC's Matt Lauer: "Three minutes later in an interview with Meredith Vieira, Joe Biden, your running mate was asked the exact same question, 'should the federal government bailout AIG?' And he said, 'No, the federal government should not bailout AIG.'"

Barack Obama: "I think that in that situation, I think Joe should have waited as well."

Lauer: "But it's the kind of thing that drives people crazy about politics. Sounds like you were trying to score some political points against John McCain using his words, when your own running mate had used very similar words."

Posted by: Scott | September 23, 2008 4:56 PM

OBAMA IS FALLING INTO A TRAP.
McCAIN WILL END UP OPPOSING THE BAILOUT
AND BARACK WILL LOOK LIKE THE BIG SPENDER.

With Shelby, Bunning and Newt Gingrich leading the anti-bailout chorus, McCain will soon change his tune -- just as Obama is doing one of his trademark compromises that has him buying into "corporate socialism."

And then McCain can announce that upon careful consideration, the bailout approach seems anti-capitalist and bad for America.

Obama should think about this -- as well as whether there's another agenda at work here:

TARGETING OF U.S. CITIZENS BY GOV'T AGENCIES:
A ROOT CAUSE OF WALL STREET MONEY MELTDOWN?

http://www.nowpublic.com/world/targeting-u-s-citizens-govt-agencies-root-cause-wall-street-financial-crisis
OR members.nowpublic.com/scrivener

Posted by: scrivener | September 23, 2008 4:42 PM

The new e-mail hoax:

Subject: the new form of spam email...
Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s.
This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson


Posted by: thebob.bob | September 23, 2008 4:21 PM

It is time we look at the excesses of both Wall Street and our Federal Government. the politicians in Washington need to cut spending and promote saving amongst the American people. This is a bipartisan disease. I wish the cure was a s simple as voting them out. http://www.boppoll.com

I just added 300 bops to Obama's total and 300 bops to McCain's and it felt great!

Posted by: Take back congress. | September 23, 2008 4:13 PM

Money for Wall Street Means No Money for Main Street...period, end of story.


Just in case you think that what happens on Wall Street stays on Wall Street, Barack Obama is already breaking the news. Bailing out irresponsible CEOs who have pocketed billions in bonuses over the last eight years, is going to mean making do without the things that the nation needs:

"Democrat Barack Obama said Tuesday the deepening American financial crisis and prospect of a massive government bailout meant he likely would have to delay expansive spending programs outlined during his campaign for the White House. In an interview with NBC television, Obama said he would have to study what happens to the United States' tax revenues before making decisions on budgeting for his promised initiatives on national health care, education, energy and other concerns."

http://www.msnbc.msn.com/id/26851737/


Expanded health care? Sorry, that's going to help Goldman Sachs. Education improvements? Call Bank of America. Getting out of our problems with oil? We'll get back to you on that when Morgan Stanley says they have what they need.


Someone might want to point out that when John McCain and the cult of deregulation handed Wall Street everything they wanted, the last thing they were doing was putting their country first.

Posted by: former Republican | September 23, 2008 4:00 PM

You really think the over spending is a good thing?

Take your party blinders off - you're not helping anyone.

By the way, I'm sure the Democrats know the poor are among us much more than the Republicans.

Posted by: Anonymous | September 23, 2008 3:54 PM

visit

RealDemocratsUSA.org

Taking back our party, one neighborhood at a time

Join us!

Posted by: K | September 23, 2008 3:54 PM

Just as soon as the Democrats learn the poor will always be among us, Carol.

Posted by: JakeD | September 23, 2008 3:43 PM

The elitist Republicans just love giving money away to other rich people!

When will the Republicans learn that less spending can be good!?!

Posted by: Carol | September 23, 2008 3:42 PM

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