BlogWonks

Only 38% of Americans think the recently passed economic stimulus bill will help end the recession.

Thirty-eight percent (38%) of voters nationwide believe the $787-billion stimulus plan passed by Congress will help the economy. The latest Rasmussen Reports national telephone survey found that 29% believe the plan will hurt and 24% believe it will have little impact.

Middle-income Americans are more likely to believe the bill will hurt rather than help. Those with incomes below $40,000 or above $100,000 are more optimistic.

By a 49% to 24% margin, government employees believe the stimulus plan will help the economy. Private sector workers are evenly divided. Investors are less optimistic than non-investors.

Fifty percent (50%) of voters believe the bill consists primarily of new government spending while 31% believe it is primarily a mix of new spending and tax cuts. Only eight percent (8%) think the legislation consists primarily of tax cuts. According to news reports, the stimulus plan is made up of $281 billion in tax cuts for individuals and businesses and over $500 billion in new government spending.

As for the political implications, 78% recognize that almost all Democrats in Congress voted for the bill and almost all Republicans voted against it. No Republicans in the House of Representatives voted for the stimulus plan. Prior to passage of the legislation, polls showed that support for the stimulus was tied strongly to support for President Obama.

Thirty-two percent (32%) say they’re more likely to vote for someone who supported the bill in Congress while 35% said they’re less likely to vote for someone who supported it. Pennsylvania Senator Arlen Specter, one of three Republicans who voted for the stimulus in the Senate, has been hurt politically for his decision.

At least people are actually paying attention, and understand this was a Democratic bill. Meanwhile, the stock market is once again voting thumbs down to Obama and his incompetent administration’s bungling of the economy.  Obviously, stock traders don’t believe the ginormous pork bill the Democrats rammed through Congress is gonna do jack to fix our economic problems. Since Obama has been elected, we’ve lost about 2,000 points  off of the Dow Jones Industrial Average. Hope and Change!