Government Or Wall Street ?

If you've been watching the mainstream media lately, you've probably been given the impression that there is a huge backlash against Obama and the Democratic Congress since they passed the Stimulus Bill. Nothing could be farther from the truth, according to the newest CNN/Opinion Research poll.

Wall Street, the Banks and the Auto Executives (and other corporations) would have us believe that if we just keep giving them billions of dollars and don't nationalize or otherwise constrain them, they'll magically bring this country back to prosperity. They might have gotten away with that a few years ago, but the populace has been awakened. The people know these corporate barons of excess are not the solution, but the problem.

Only 30% of the people believe Wall Street will make the right decisions to bring us out of the recession. Bankers have the confidence of 28% of the people, and auto executives do even worse with only 26%.

The people have much more faith in government than in business right now. About 66% have confidence in the decisions of the Democrats in Congress. President Obama fares even better. About 75% of the people believe President Obama will make the right decisions to end the recession. Amazingly, even 37% of Republicans believe Obama will make the right decisions.

Also interesting is the fact that only 37% approve of giving more money to auto companies and 36% would give the rest of the TARP money to financial institutions, while 62% are opposed. But while they don't want to throw more money at corporations, the people don't feel the same way about homeowners in trouble. Over 60% favor the government helping ordinary Americans facing foreclosure.

The Republicans are making a serious mistake by fighting Obama on everything he's trying to do right now, and that includes Jindal, Perry, Sanford and other governors who hurt ordinary Americans by refusing some of the stimulus funds destined for the ordinary people of their states. If they keep trying to obstruct President Obama, they could be in for a nasty surprise in the next election.

Right now, President Obama has a huge mandate from the people -- they believe in him (far larger than any mandate Bush tried to claim). I hope he'll not only use that mandate to solve the economic crises, but also the health care crises. Over 70% of the poll's respondents said they believed it was time to "increase the government's influence over the health-care system in an attempt to reduce costs and expand coverage."

Obama's off to a good start with the economy. Now he needs to build on that good start to fulfill his other promises of change.