CNN Reporter: Pollsters 'Perplexed' by Bailout Opposition
Americans arenât all on board for the government stepping in and saving the day with an expensive bailout/rescue bill â and that has some journalists scratching their heads.
Correspondent Carol Costello explained on CNNâs Oct. 1 âAmerican Morningâ that polling organization canât figure out why the public doesnât want the big hand of government involved.
âI talked to our own polling experts and they are perplexed by the numbers,â Costello said. âVoters appear to have no clear idea what they want Congress to do â they just want them to do something. Voters are confused and many analysts say our political leaders are to blame.â
Costello noted that despite alarmist rhetoric from political leaders, the majority of American people still arenât sold on the idea of government intervention in the form of a $700-billion bailout.
âIt turns out those words didnât pack a punch like the phrase, âWall Street bailoutâ did,â Costello said. âThatâs all voters heard â âWall Street Bailout,â not âMain Street Bailout,â so they werenât exactly eager to jump on board. Thatâs left politicians now struggling to find the right words.â
To Costello, the failed passage of the bailout bill is nothing more that âplaying politics.â
âAnd to add to the confusion, the stock market shot up about 500 points yesterday,â Costello added. âNow of course that means investors have new hope a new bailout plan will be passed, but analysts say clearly President [George W.] Bush and Treasury Secretary Paulson did a poor job of explaining the bailout to voters and to legislators â some of whom are clearly playing politics with a failing economy.â
However, as Rep. Mike Pence, R-Ind., explained â itâs not as simple as âplaying politics.â He voted against the bailout because such a measure in his view would be government interference in the free markets.
âThis is a very serious crisis,â Pence said on FOX News Channelâs Sept. 29 âHannity & Colmes.â âAnd I want to take issue with something thatâs been the underpinning of your discussion. Look, today Congress took a stand for the American taxpayer and for free markets. It wasnât a speech by Speaker Pelosi. It wasnât a blame game. It was â the American people rejected this corporate bailout and today the peopleâs House did likewise.â