Republicans in the House are going to continue, they say, to try to resist this plan 
WSJ/NBC Poll: Voters Split on Bailout Plan
Voters are nearly evenly divided on the proposed $700 billion financial sector bailout working its way through Congress.
The latest Wall Street Journal/NBC News poll shows 31% of voters approve of the plan while slightly more, 33%, disapprove, and 28% said they had no opinion.
The poll also shows that wealthier voters support it by larger margins than lower income voters, with 48% of voters who earn $75,000 or more approving of the plan and just 12% of voters who earn less than $30,000 oppose the bailout.
Among self-identified Democratic voters, 33% approve, 30% disapprove, and 29% had no opinion. Republican voters largely mirrored those results as 32% approve, 31% disapprove, and 29% had no opinion.
Independent voters registered some of the highest levels of disapproval, with 45% opposing the plan, while 29% approved, and just 22%–the lowest of any subsection of voters—had no opinion.
The WSJ/NBC News poll will be released at 6:30 p.m/EDT today, check back at www.wsj.com for the full take. –Susan Davis
Talked to a Republican lately? They'll tell you just how liberal GW is and that is the reason things are off on the wrong track. Bush is a liberal and has betrayed them. That is how they are able to justify the "change" message with John McCain. That is what resonates with the base. They see McCain as a "true conservative" and Bush as just another liberal elitist from DC. Do you see a trap here? I do. If this widely unpopular plan passes a Democratic Congress with the blessings of Barak Obama and Democrats are seen to have crafted the bill, then there is going to be hell to pay. McCain will be in a position to claim he represented the "maverick" and "reformer" in this mix. McCrazy can say he was the standard barer but that it was Bush and the Democrats who pushed this thing through. Mission accomplished for the GOP.
This from the ultra conservative journal Human Events:
Congress is running around in circles trying to figure out how to handle the hot potato the Bush Administration has handed them with its $700 billion bailout proposal and how they can load it up with their own list of taxpayer-financed handouts.
If left to their own devices, they’ll turn it into a giant cookie jar instead of taking the trouble to enact the measures that will boost the economy when it is in deep trouble.
The bailout is a panic remedy designed to prop up the crumbling mortgage market by buying up mountains of near-worthless paper currently poisoning America’s credit system while ignoring the root causes of the nation’s economic malaise.
No matter how it’s described, it is a socialistic answer to a capitalist problem. It does nothing to foster the system of free enterprise upon which America’s prosperity depends.
Put simply, that system is shackled around the ankles with chains fashioned by a series of Congresses, many of whose members either don’t understand the principles of free enterprise or simply despise it as a mortal enemy of the Marxist dogma many of them embrace with near-religious fervor.
The clear and simple answer to our current economic dilemma is to take those shackles off and allow our free enterprise system to function unimpaired with unnecessary bureaucratic meddling.
Turn America’s economic engine loose and all by itself it will create the kind of prosperity that saw a rustic combination of 13 British colonies transformed into the wealthiest and most powerful nation in world history.
“We did it before,” as the World War II song boasted, “and we can do it again.”
If allowed to, that is.
American businesses and America’s small businessmen and women who make $250,000 a year -- the people who create most of the jobs in the marketplace -- are groaning under the burden of corporate and personal taxation. At a corporate tax rate of 35 percent we have the second-highest in the world.
There aren’t enough people making $250,000 a year to finance Barack Obama’s extravagant spending plans, let alone the ability to pay for the $700 billion bailout. He has to look elsewhere -- in this case the only place he can look -- to the middle class.
Like Willie Sutton, who said he robbed banks because that’s where the money is, Obama is going to have go after the middle class because that’s where the real tax money is.
Eliminate capital-gains taxes, cut individual and corporate tax rates to the bone, and watch the economy soar and unemployment shrink.
Don’t allow boneheaded ideas like Barack Obama’s plan to increase taxes at a time of economic crisis become a reality. He tells us that his tax plan would reduce the taxes of 95 percent of the American people, but doesn’t say how he can give a tax break to the 40 percent of them who don’t pay any income taxes at all. Since they can’t get a tax refund for taxes they don’t pay, he wants the people who pay taxes to send them a check.
Obama also wants to throw a monkey wrench into the economy by allowing the Bush tax cuts, which set off an economic boom, to expire. That would be a massive tax increase and it would have a deadly effect on the incomes of the very middle class Obama professes to champion.
Congress should waste no time at all in repealing the ill-conceived Sarbanes-Oxley Act, which was allegedly designed to reform American business practices but instead drove scores of American firms abroad to foreign nations.
Let Congress get out of the way and let the American people and American businesses do what they have always done best -- put their shoulders to the wheel, their ingenuity to work, and perform economic miracles. ....
Think that it is only Republicans who are against this deal? Nup, you have bipartisan resistance here. TrueMajority (see the "oreo turtorial" on the column at the left) and others on the left also feel that this is a giveaway to corporate interests.
So, when this is over those who worked so hard to fulfill the obligation stated by the Bush administration to losen the credit markets will not be seen as saviors of democracy but rather collaborators in the biggest corporate scam in history. Nevermind if it succeeds or fails, it doesn't matter with regard to politics.
Labor unions protest in NY against bailout
By Christian Wiessner
NEW YORK (Reuters) - Hard hats, transit workers, machinists, teachers and other labor unionists railed against the U.S. government's proposed bailout of Wall Street on Thursday in a protest steps from the New York Stock Exchange.
Several hundred protesters yelled their enthusiastic support as union leaders decried a proposed $700 billion plan aimed at reinvigorating the credit markets by relieving financial institutions of distressed debt.
"The Bush administration wants us to pay the freight for a Wall Street bailout that does not even begin to address the roots of our crisis," said AFL-CIO National President John Sweeney.
"We want our tax dollars used to provide a hand up for the millions of working people who live on Main Street and not a handout to a privileged band of overpaid executives."
Signs read "No Blank Checks For Wall Street" and "Our Hard-Earned Pensions Are Not Up For Grabs." Protesters cheered repeated calls for the government to spend money on education, health care and housing as freely and readily as it was proposing to do for Wall Street.
"We know that the economic situation has to be solved. But we want a responsible rescue, not an opportunistic bailout," said United Federation of Teachers President Randi Weingarten.
"And that means, just like every single boss says to me, that there should be accountability for the teachers, then there should be accountability for Wall Street," he said.
"The bailout is a sellout unless it includes the victims of the tyranny," civil rights activist the Rev. Jesse Jackson told reporters after the rally. "The homeowners need long-term, low interest rate loans and the restructuring of loans, not the repossession of homes."
"This is a Roosevelt moment," Jackson said, referring to former President Franklin D. Roosevelt's program to lift the United States out of the Great Depression. "It's time for reconstruction of manufacturing law, trade law and banking transparency."
(Editing by Daniel Trotta)
No comments:
Post a Comment