Business
Survey: Majority oppose automaker bailout
Detroit | December 04, 2008 12:01:13 AM IST
A survey indicates 61 percent of U.S. adults said they were flat-out opposed to a federal bailout for U.S. automakers. In a CNN/Opinion Research Corp. survey conduced Dec. 1-2 poll 36 percent of the 1,096 adults surveyed indicated support for a bailout, CNN reported Wednesday. Fifty-three percent of the respondents indicated they believed helping automakers would not help the overall economy. Only 15 percent say that they would be immediately affected if the auto companies went bankrupt. Seven in 10 say that a bailout would be unfair to American taxpayers, CNN polling director Keating Holland said. The numbers indicate a quick decline in popularity for bailing out automakers, who are headed to Washington Thursday to ask for loans totaling $34 billion. Surveys taken a month ago indicated roughly half of U.S. adults favored a bailout, CNN said. That sentiment shifted after Ford Motor Co. and General Motors Corp. chief executive officers deflected questions about executive pay in congressional hearings two weeks ago. The public also learned CEOs had flown luxury private jets to ask Washington for bailout funds, CNN said. The survey includes a margin of error of plus and minus 3 percentage points, CNN said. (UPI)
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