Legal Commentary

WaPo Poll: Americans Hate Bailout, Upset It Did Not Pass

By Big Tent Democrat

There is such a misconception about how the American People feel about the mortgage/credit crisis Wall Street bailout. Of course everyone hates it. Who wouldn't? But the American People know the problem must be addressed. The latest WaPo poll demonstrates this:

Most Americans see the current financial situation as a "crisis," and there is overwhelming concern that the failure of the House of Representatives to pass the economic recovery package will deepen the problem, according to a new Washington Post-ABC News poll. . . [N]early nine in 10 expressed concern that the failure of the bill could lead to a more severe economic decline.

From a purely political perspective, something must be done. But what? Here is where the Democratic leadership should grab their chance to enact a progressive proposal. The WaPo poll says:

[F]ew voters said the package did enough to protect "ordinary Americans," and nearly half said it did not go far enough to shore up the nation's economy. . . . [O]n the particulars, about as many voters said the plan rejected by Congress did "too much" to help major financial institutions that got into trouble as said that the bill did "too little." Nearly half said the failed plan did not do enough to help the broader economy, and more, 61 percent said there was insufficient assistance for the general public.

That the bill did not go far enough to aid the public is a view shared by Democrats (69 percent), independents (59 percent) and Republicans (50 percent) alike.

The American people want the progressive Democratic plan. The Republican rejection of bipartisanship makes it a layup now for the Democratic leadership. Adopt the Democratic plan. Oh by the way:

Asked to assess responsibility for the legislation's failure, 44 percent said Republicans were the reason, 21 percent said the Democrats and 17 percent said both sides were responsible.

By Big Tent Democrat, speaking for me only

Full post as published by TalkLeft on September 30, 2008 (boomark / email).