If you oppose those disastrous bailouts people then you should have better voted for Ron Paul and not for Mr. ‘Change is Protectionism’ or Mr. ‘Bomb Them All’. Ron Paul would have listened to the people. He always did. Those elite puppets won’t.
Survey shows that Americans think federal aid for the Big Three is unfair and won’t help the economy.
NEW YORK (CNNMoney.com) — A majority of Americans oppose a bailout of the troubled U.S. auto industry, according to a poll released Wednesday.
The CNN/Opinion Research Corp. poll, conducted by telephone on Dec. 1-2 with nearly 1,100 people, showed that 61% of those surveyed oppose government assistance for the major U.S. automakers.
The poll comes at a critical time for the American auto industry. Ford Motor, General Motors and Chrysler LLC are requesting up to $34 billion dollars in emergency loans from the government to amid the weakest auto sales in 25 years and persistently tight credit.
General Motors and Chrysler, burning through billions of dollars in cash, are the most imperiled. All three companies submitted plans to Congress on Tuesday making their case for funding, and industry executives are set to testify on Capitol Hill as lawmakers debate whether to take emergency action.
But Wednesday’s poll suggests that Americans believe bailing out the Big Three is a bad idea.
A full 70% of respondents indicated that a bailout is unfair to taxpayers.
In addition to being unfair, the poll showed that a majority of those surveyed think a bailout would not help the economy.
Still, the possibility of a bankruptcy among one or more of the Big Three automakers is a concern for a significant number of poll respondents.
While only 15% of those polled think a bankruptcy in the auto industry would have an immediate impact on their families, 43% think a bankruptcy would eventually have an effect on them.
The margin of error for the poll is plus or minus 3%.
By Ben Rooney, CNNMoney.com staff writer
December 3, 2008: 12:04 PM ET