With the stock market in a nose dive and the U.S. government spending borrowed money like a drunken sailor, more than 60% of Americans now believe the U.S. could literally go bankrupt.
And as Americans watch news reports on how all this federal money (ie your money and my money) is being spent by the likes of Barney Frank, some are starting to wonder if all this spending will do any good, if it is fair and honest, and if it will prevent disaster (or as Barack Obama has sermonized: “catastrophe”).
Even if the “stimulus” and other Obama spending measures slow the economic downward slide, it is getting more doubtful that the Obama plan will restore investment, prosperity and economic growth in America — as investors seem to be saying in the stock market.
And is it all fair? Should luxury car salesman Chadi Moussa get a new mortgage with your money and my money? Should Americans and American companies be allowed to fail?
In the every-player-gets-a-trophy never-never land of liberal American, apparently nobody will be allowed to fail. So the net reult may be that we all fail….
Chadi Moussa bought his home in Dublin, Calif, for $2.24 million in 2005. Its value and his income have since fallen by half. Now he wants a government bailout. Heidi Schumann for The New York Times
The stock market has plunged to its lowest point in decades, unemployment is up, and home foreclosures are sweeping the country. Still, Americans think it can get even worse – a lot worse. Fully 61 percent of Americans think it is possible the United States government could literally go bankrupt. That’s according to a new Fox News poll released Thursday.
By Chris Anderson
And what about the billions of dollars the government has spent since last fall to get the economy back on track? Many Americans think its simply not working: 44 percent say “things would be the same as they are today or even better” without the spending, while 38 percent think “things could have been a lot worse,” without the spending. Another 14 percent think it is too soon to tell.
Some 60 percent of Americans now describe themselves as confident “about the future security of your job,” down from 64 percent in September 2008 and 82 percent in October 2007.
Lower earning workers are the least confident in their job security. Nearly half (45 percent) of households with annual incomes under $50,000 are confident in their job security, compared to 70 percent of higher earning households.
Opinion Dynamics Corp. conducted the national telephone poll of 900 registered voters for FOX News from March 3 – March 4, 2009. The poll has a 3-point error margin.
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