Many Americans say big government is necessary
October 16, 2008 by Personal Liberty News Desk
A new poll reveals a shifting attitude about the role of big government in helping the U.S. out of the credit crunch.
The Bloomberg/Los Angeles Times survey, conducted on October 10-13, found that a larger number of people support the $700 billion bailout than oppose it.
This finding contrasts with the results of a similar poll conducted by Bloomberg/Times last month, which revealed that the majority of respondents were against the scheme.
Meanwhile, the majority of Americans seem to welcome some help from big government with their own financial problems.
The data indicates that a two-to-one proportion of respondents think the government should help homeowners who are facing foreclosure.
According to Bloomberg, some of this increased confidence in government action may be a result of positive activity in the stock market, which occurred just after details of the bailout were made public.
"They have to do something to spur the economy – otherwise, we’ll be further in the hole than we already were," independent voter Mike Hackenberg told the news agency.
The news comes after a recent survey by Reuters and the University of Michigan found that slightly more than half of Americans have lost confidence in the Federal Reserve in the past five years.