America wants this bailout more, even if Congress wants it less

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The title of the most recent research from Rasmussen Reports wasn’t quite as funny this morning before our elected representatives went to work: “Opposition to Bailout Plan Falls Dramatically.” Just a mere half-day ago the polling outfit reported:

As Congress prepares to vote on a proposed economic rescue plan, opposition to the measure has declined significantly. A Rasmussen Reports national telephone survey conducted Sunday found that 33% of Likely Voters now favor the plan while 32% are opposed and 35% are not sure.

For proponents of the legislation, that’s a significant improvement. On Friday, just 24% of voters had supported the plan while 50% were opposed…

While voters are unsure about the particular plan agreed to by Congress and the Administration, 49% say it’s Very Important that some kind of plan be implemented. Another 29% say it’s Somewhat Important to do so.

The particularly stunning part of the poll was how people felt once they actually understood how the plan was supposed to work:

Just 49% understand that the government anticipates recovering a significant portion of the $700 billion when the assets purchased are resold. Twenty-six percent (26%) say that’s not part of the plan while the rest are not sure.

Those who understand that taxpayers will eventually get much of the money back support the bailout by a 2-to-1 margin. Those who incorrectly believe the government will not be getting money back oppose the bailout by a 62% to 18% margin.

Oh, well. I’m sure up on Capitol Hill it’s not really about what the American people do or don’t want, anyway.