The Numbers
A Run at the Latest Data from ABC's Poobah of Polling, Gary Langer
Gary Langer is director of polling at ABC News, where he's covered the beat of public opinion for nearly 20 years - conducting and analyzing ABC News polls, evaluating data from other sources and setting the news division's standards for poll reporting. Langer has won two Emmy awards for ABC's reporting of public opinion polls in Iraq, and The Numbers blog was honored this year as winner of the 2008 Iowa Gallup Award for Excellent Journalism Using Polls.
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Views on the Bailout... um, Investment
September 24, 2008 8:47 AM
Three new poll questions on the government’s response to the financial crisis underscore the power of words – not only in how we understand polls, but in how we choose to describe the events of our day. Some analysts might say the results are contradictory; I’d suggest instead that we learn more, not less, by comparing and contrasting them.
The first, from the Pew Research Center, asks about the government "potentially investing" (note: not “spending”) billions “to try and keep financial institutions and markets secure.” Fifty-seven percent like the idea.
Pew: “As you may know, the government is potentially investing billions to try and keep financial institutions and markets secure. Do you think this is the right thing or the wrong thing for the government to be doing?”
Result: Right 57 percent, Wrong 30 percent.
The second, from the new LA Times/Bloomberg poll, asks if the government should “bail out private companies with taxpayers' dollars.” Fifty-five percent don't like the idea - almost the exact opposite of the Pew result.
LAT/Bloomberg: “Do you think the government should use taxpayers’ dollars to rescue ailing private financial firms whose collapse could have adverse effects on the economy and market, or is it not the government’s responsibility to bail out private companies with taxpayers’ dollars?”
Result: Should do 31 percent, Should not 55 percent.
The last, our own ABC/Post question, asks what people think of the steps the Fed and Treasury have taken to try to deal with the situation. Answer: Even split
ABC/Post: “Do you approve or disapprove of the steps the Federal Reserve and the Treasury Department have taken to try to deal with the current situation involving the stock market and major financial institutions?"
Result: Approve 44 percent, Disapprove 42 percent.
We know further, from our poll, that just 9 percent “strongly” approve of the government’s actions; 18 percent strongly disapprove, while most by far don’t hold strong views on it. Republicans are a bit more apt to approve, but not broadly - a 49-38 percent division. Democrats split more evenly, with 42 percent approving, 45 percent disapproving. Conservatives divide 48-43 percent; liberals are least enamored of the government's efforts: Thirty-seven percent approve, while 52 percent disapprove.
Approval's highest in our data, 63 percent, among people who think the country's headed in the right direction. But there aren't many of them. And in no group - not even that one - does "strong" approval exceed 17 percent.
All three of these polls shared precisely the same field periods, Friday-Monday, and all use good solid sampling methodologies. Taken together, they cut to the heart of the debate now underway. Is this a federal bailout or an investment of taxpayer dollars? Will it keep institutions and markets secure, or disappear down the drain? While the answers are far from clear, the questions surely matter.
There is also, of course, the question of how this plays out in the presidential election. For more on that, see our latest poll.
September 24, 2008 in Economy | Permalink | User Comments (40)
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We can wait 4 more months to clean this mess up in the New Year with President Obama..
Posted by: Lawrence | Sep 24, 2008 8:52:44 AM
Sure shows the value of polls!
No Bailout for Greedsters!
Posted by: Fred Mason | Sep 24, 2008 9:08:42 AM
Ohio (20) Obama 45.1 McCain 46.7 McCain +1.6
Pennsylvania (21) Obama 47.0 McCain 44.5 Obama +2.5
Florida (27) Obama 46.0 McCain 48.0 McCain +2.0
Virginia (13) Obama 46.0 McCain 47.3 McCain +1.3
Wisconsin (10) Obama 48.0 McCain 44.8 Obama +3.2
Colorado (9) Obama 48.4 McCain 44.4 Obama +4.0
Minnesota (10) Obama 48.0 McCain 45.2 Obama +2.8
Indiana (11) Obama 45.5 McCain 47.8 McCain +2.3
_ _ _ _ _ _ _ _ _
Posted by: HP Boston | Sep 24, 2008 9:24:39 AM
Amazingly enough, McCain/Palin outdraw Obama in Wisconsin rally by 4,000. How is that possible? How will Obama spin this?
Posted by: HP Boston | Sep 24, 2008 9:36:42 AM
The Republican National Platform adopted 3 weeks ago opposes the bailout.
Will McCain blink?
Here is what the Platform says:
"......
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. We believe in the free market as the best tool to sustained prosperity and opportunity for all.
......."
Posted by: Steve_NJ | Sep 24, 2008 9:48:54 AM
I agree we should not bail them out it will take longer to get past this they are trying to inflate the economy up which they should not.I am sure there are better options.We need to stop these bailouts(handouts)at all cost we will survive and we will not leave the burden to our children and their children
Posted by: reddog0216 | Sep 24, 2008 10:08:54 AM
I have never saw a bunch of useless, dysfunctional, corrupt, etc. as the people in Washington representing “We the People”. They were sent there by the voters to represent them and have failed miserably. Truly sad for the working class in the great U.S.A.
Posted by: rickyt1234 | Sep 24, 2008 11:00:17 AM
"We the people" should be allowed to vote on the bailout. If "we" vote for it, then do it, but if "we" vote against it, then DON'T DO IT. It is supposed to be "our" government, and "our" tax money. This bailout, wihtout asking the people, would be "taxation without representation."
Posted by: marym23 | Sep 24, 2008 12:53:35 PM
Why should the general public bail out these companies. Will we get bailed out if we over extend or make otherwise bad decisions and pocket countless thousands as a bonus? NOOOOO!!!
Posted by: dsrt | Sep 24, 2008 1:15:24 PM
LET THESE FINANCIAL INSTITUTIONS BURN TO THE GROUND. SOONER WE ARE RID OF THEM ALONG WITH BUSH, PHIL, CHENNY, PAULSON, MCCAIN AND WHAT'S HER NAME THE BETTER OFF WE WILL BE.
THE BAILOUT IS UN AMERICAN AND UNPATRIOTIC. ANY KNUCKLE HEAD CAN SEE THAT. AS IS SAID IT DOESN'T TAKE A ROCKET SCIENTIST TO DETERMINE THIS GAMBIT.
BUSH WANTS A QUICK FIX SO MAYBE HIS TARNISHED LEGACY(ROTTEN TO THE CORE) WILL LOOK BETTER.
Posted by: ron humphrey | Sep 24, 2008 1:57:11 PM
were the laugh stock of them who did the job well done
Posted by: Gene | Sep 24, 2008 2:40:47 PM
John McCain's trying to run & hide from the issues..He's trying to cancel the debate on friday for what!...let the people here the truth & the truth is John you voted not to protect our financial market you voted for the lobbiest & your peers..You voted with George Bush on the very same policy's thats gotten us into this mess and now your trying to run & hide behind the issues so the American people can be fooled by your all of a sudden concern...Please stop the bulls**t..Go in front of the American people and tell the truth.
Posted by: Dez | Sep 24, 2008 5:05:06 PM
I am a retired totally disabled vet and the only thing that comes to mind in this instance is Fool me once shame on me....
Posted by: JERRY T | Sep 24, 2008 10:08:57 PM
Pelosi is talking about helping those who might be facing foreclosure.
Should the American taxpayer pay for the bad mortgages of illegal immigrants?
Posted by: Maggie | Sep 25, 2008 8:55:17 AM
I am torn because I do feel Mr. McCains 1st priority & allegance is his Original job & to this Country- which Mr. Obamaha seems to feel & has shown in the past doesn't matter to him. I do feel Mr. Obamaha is more concerned with 'making history' in MS than helping NOW to fix what whoever is elected will have to face when place in that office of President.
Stop the fancy mouth work & put your actions where you mouth is! Show us the Leadership you all keep bragging about!
Posted by: sherrell | Sep 25, 2008 10:23:33 AM
The real answer is that the devil is in the details. What exactly will the government get in return for that $700bil? If this is a bail-out like the economic stimulus to taxpayers, the answer is, not a whole lot. If it's a bail-out like the government buys the debt instruments, it's kind of a wash. If it's a bail-out like the government buys itself a major share in these companies with its money and uses it to keep an eye on them, then people probably support it.
My thinking is, the government should temporarily relax liquidity requirements for banks, and offer banks around 35% of face value for mortgage securities. Banks recoup some of their investment and have an excuse to get them off their books at a loss without losing face, and the government can afford to hold onto the securities until they expire or reacquire enough value to sell, or offer refinancing on terms advantageous to the mortgage holder (it's no loss for the gov't since they bought it at a rate).
>Amazingly enough, McCain/Palin outdraw Obama in Wisconsin rally by 4,000. How is that possible? How will Obama spin this?
I guess Palin is an even bigger celebrity than Obama?
Posted by: Happy | Sep 25, 2008 3:26:52 PM
Whatever happened to responsible government? Power and greed and put us here. The "Fear" card was pulled from the deck. Who will fund this irresponsibility? American taxpayers. It has worked in the past. We are victims of these "Quick" decisions. Now is the time to make the thoughtful decision. Make democracy work.
Posted by: M.T. Hill | Sep 25, 2008 4:08:22 PM
Why is no one questioning the CEO's of these companies and holding them responsible? They ought to take the 700 billion out of their personal salaries and assests. If the common person ripped off the public like they have we'd be in jail. If we ran a business like this we would be put in jail for fraud.
Posted by: Elizabeth | Sep 25, 2008 7:44:07 PM
Pelosi is putting "riders" on legislation .... she and other dems don't want all the profits from this bailout to be returned to the American taxpayer.
Pelosi is earmarking 20% of any profits go to ACORN and LA RAZA.
This is a deal breaker.
TAXPAYERS SHOULD GET ALL OF THE PROFITS.
Posted by: Maggie | Sep 26, 2008 9:59:23 AM
no money for earmarks. they already take millions of our "The People" money.
Stand firm America doesn't want a bailout. Isn;t it funny that it is the Democrats that are standing with George Bush. I guess that means Obama will be an extenstion of a Bush presidency.
Posted by: Pam Storts | Sep 26, 2008 10:22:42 AM
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