The bailouts of the financial industry still leave a sour taste in the mouths of most Americans who feel as strongly as ever that the government was looking out for bankers rather than taxpayers and that crimes on Wall Street remain unpunished.
Half of Americans nationwide believe the Federal Reserve Board chairman has too much power over the economy. Meanwhile, favorability ratings for current Chairman Ben Bernanke are at their lowest level yet recorded.
As they marched through Manhattan, they chanted of how the “Big Banks Got Bailed Out, We Got Left Behind.” The Occupy Wall Street protesters found a slogan that resonates with the American people but not many people embrace the protesters views of an economy more regulated by the government.
Seventy-nine percent (79%) of Americans agree with the statement that the “The big banks got bailed but the middle class got left behind." A new Rasmussen Reports national telephone survey of American adults found that just 10% disagree with that statement and 11% are not sure.
As 2011 rolls along, Americans have become far more pessimistic about the employment outlook.
Perhaps these views are driven in part by the increased skepticism that Americans have about President Obama's economic advisers. Just 31% are at least somewhat confident in those who advise the president on economic policy, with only 14% who are Very Confident. Sixty-three percent (63%) lack confidence in the president’s economic advisers, including 44% who are Not At All Confident in them.
The number of adults confident in Obama’s economic advisers has fallen from 41% in September 2010. Fifty-seven percent (57%) put little or not faith in those advisers at that time.
The Rasmussen Employment Index, which measures workers’ perceptions of the labor market each month, regained some lost ground in September following August’s 2011 low.
At 73.4, the Employment Index is up four points from August but is still down four points from the beginning of 2011 and down 10 points since last November when hiring expectations peaked. Generally speaking, an increase in the Rasmussen Employment Index suggests the upcoming government reports on job creation will be better than prior months.
From their beginning in 2008, the bailouts for Wall Street and the auto industry have been among the most unpopular government actions in recent American history. New polling shows that even after three years, the attitudes haven’t changed all that much.
Federal bailout funding may have prevented General Motors from going through a normal bankruptcy process, but it has come at a significant price in terms of reputation and potential buyers.
Ever since General Motors and Chrysler accepted government bailouts, Ford has been the nation’s most popular auto manufacturer.
Americans think tax hikes are more likely than spending cuts in any deficit reduction deal that comes out of Congress and are more convinced than ever that any new tax monies will be spent on new government programs.
Regardless of their views on the content of any major deficit reduction plan, voters do not expect any significant reduction in federal government spending before next year’s election.
Most Americans still don’t believe the government should help those who can’t afford to make their mortgage payments.
Fifty percent (50%) of Americans think President Obama and Congress should consider a mix of spending cuts and tax increases in looking for ways to cut the federal deficit, but nearly two-out-of-three adults (64%) are unwilling to pay higher taxes themselves to reduce that deficit.
For the fourth straight month, less than half of adults nationwide believe buying a home is the best possible investment for a family.
The percentage of American homeowners whose home is worth less than what they still owe on it has hit the highest level in nearly three years.
Homeowners remain very pessimistic about the potential short- and long-term values of their homes.
While the economy continues to stumble along, fewer Americans than ever report they owe more money than they did a year ago.
Half of American Adults (48%) think labor unions have outlasted their usefulness, but there’s a sharp difference of opinion between Republicans and Democrats on the question.
Most Americans remain concerned about inflation and lack confidence in the Federal Reserve Board to keep it under control.
Confidence in America’s banking system has rebounded slightly from last month’s record low, but less than half of adults nationwide remain assured in the stability of the industry.
