Pew Research Center

FOR RELEASE OCTOBER 6, 2008

Economic Bailout: Public Remains Closely Divided Overall, but Partisan Support Shifts

The relative stability in the overall numbers obscures considerable movement in public opinion about the package recently passed by Congress.

BY Tom Rosentiel

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Pew Research Center, October 2008, "Economic Bailout: Public Remains Closely Divided Overall, but Partisan Support Shifts"

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Economic Bailout: Public Remains Closely Divided Overall, but Partisan Support Shifts

The relative stability in the overall numbers obscures considerable movement in public opinion about the package recently passed by Congress.

Figure

A special re-interview this weekend of voters who had first been polled a week ago finds that public reaction to the $700-billion economic bailout package signed into law last week is decidedly mixed, with a narrow plurality of 42% saying it was the right thing to do and 39% saying it was the wrong thing to do; 19% are unsure.

The overall division in public opinion was similar prior to the measure’s passage (45% right thing to do, 38% wrong thing in interviews conducted Sept. 27-29).

However, the relative stability in the overall numbers obscures considerable movement in public opinion about the package.

The latest survey by the Pew Research Center for the People & the Press was conducted on landline phones and cell phones Oct. 3-5 among 820 adults, including 710 registered voters, who were previously interviewed.

The survey finds that many people changed their minds as the debate unfolded in Washington, with nearly four-in-ten (37%) holding a different opinion in the re-interview survey than they had expressed when interviewed a week ago.

In particular, Democrats and Republicans moved in opposite directions. In the Sept. 27-29 survey, members of both parties held similar views, with small pluralities favoring the plan (49% among Republicans, 46% among Democrats). Independents were almost evenly divided, with 42% saying the plan was the right thing to do and 40% saying it was the wrong approach.

Figure

Now, Republicans are significantly more negative about the package; 45% now say it is the wrong thing to do, up from 38% a week ago. Independents have moved in the same direction and now oppose the plan by a margin of 47% to 36%. Meanwhile, 48% of Democrats now say the bailout is the right thing to do.

Echoing the divided public verdict on the bailout, 45% are pessimistic that the plan will keep financial markets secure; 42% say they are optimistic. A majority of independents (54%) say they are pessimistic about whether the bailout will work. Republicans (49% optimistic) and Democrats (47%) are more optimistic.

Figure

Public judgments about how Congress has handled the situation are now more negative than they were in late September. A plurality of 39% says Congress was too hasty, up from just 22% who said this earlier. About a quarter (23%) thinks Congress took too much time debating, while 29% say lawmakers gave the issue about the right amount of consideration. Independents, in particular, are more likely to say Congress acted too fast: 46% now say this, up from 25% a week ago.

Topline questionnaire findings can be found at pewresearch.org/pewresearch-org/politics.