63% Of Americans Supported Bush’s Bailout Of The Auto Industry
But 70% say that, if the auto companies can’t get solvent after this bailout, they should go bankrupt.
But if the auto companies should ask for more taxpayer assistance, the poll indicates that public opinion changes dramatically. Only 28 percent would approve of providing the automakers more money, with 70 percent saying let them go bankrupt.
“One reason for that: only 15 percent say that the country would face a crisis if the automakers went bankrupt, and half say that would not cause any problems for them personally at all . But most say that the country would face major problems if the auto companies were in bankruptcy,” says CNN Polling Director Keating Holland…
Only 28 percent, he adds, say the auto companies involved in the current program will be able to pay all or most of the $13 billion back; one in five say they will not be able to pay any of it back to the government.
If anything, this just illustrates how ill-informed the public is about this bailout. Remember that the auto industry wanted this bailout to keep them solvent until March. The respondents to this poll say no more bailouts after this one. If we follow through with that, what we’ve essentially done is spend about $17 billion on having the auto companies go bankrupt in the spring instead of the winter.
Which isn’t exactly worth it, is it?
