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  • Don't 'Do Something' Americans Are Against

    Congress has returned from their spring break to mounting pressure to “do something” about the current financial turmoil. The Hill reports: “Republican senators have spent the recess hearing complaints from constituents about foreclosures and falling home prices, and they feel pressure to act by passing legislation.” Before Congress starts passing feel good legislation to show they are acting on the issue, they really ought to pay closer attention to what their constituents do no want them to do.

    In September the NBC/Wall Street Journal asked: “Is it the role of the federal government to take steps to ensure that these people’s homes are not foreclosed upon, or is this NOT the role of the federal government?” 59% of Americans said it Is Not the role of the federal government to prevent foreclosures. Only 35% of Americans said it was.

    In October Public Opinion Strategies asked: “Do you believe the sub-prime mortgage issue is serious enough that the federal government should get involved to help those people who cannot pay their mortgages, or do you believe the individuals themselves should take responsibility for their actions?” 62% of Americans said individual should take responsibility and only 31% said the federal government should get involved.

    Finally, in late March, Rasmussen Reports found: “Fifty-three percent (53%) of Americans say that the federal government should not help out homeowners who borrowed more than they could afford. A Rasmussen Reports national telephone survey found that 29% disagreed and believed that federal action is appropriate.”

    Posted in Economics [slideshow_deploy]

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