Auto Assistance

Congress adjourned last week without approving a proposed $25 billion bailout for Detroit's “Big Three” automakers, with lawmakers calling for more precise information about how the money will be used. “Until we see the plan, we cannot show them the money,” said House Speaker Nancy Pelosi.

According to recent Gallup poll, Americans are divided—47 percent in favor and 49 percent opposed—over the idea of “the federal government giving major financial assistance to the big three U.S. automotive companies if they are close to going broke or declaring bankruptcy.” Democrats favor the proposal by 60 percent to 36 percent, while most Republicans (65 percent) and independents (53 percent) oppose it. When asked by USA Today/Gallup about priorities for the next president, only 20 percent of Americans said that “providing loans and other help” to automobile companies was “critical” or “very important,” compared to 60 percent who said that about enacting stricter financial regulations.

Source: The Gallup Organization, November 2008.