Tuesday, September 23, 2008

The Blame Game

Article: CNN poll: GOP takes brunt of blame for economy; Obama gains (CNN)

The financial crisis that has befallen the United States lies squarely on the GOP, voters say. In the results of a national poll released Monday, 47 percent of registered and likely voters laid the blame for America's financial crisis on Republicans, versus the 24 percent who hold the Democrats responsible.

The survey, conducted by CNN and Opinion Research Corp., also found that twenty percent feel both parties share equal culpability while eight percent say neither party is at fault. These figures may give a bit of a boost to Senator Obama in his campaign against Senator McCain for the White House. Voter opinion Monday was that, of the two candidates for the Oval Office, Obama will be better able to handle a country in financial crisis.

Further findings of the poll are that six in ten voters think the federal government should be involved in solving the financial crisis, a figure that slips slightly to 55 percent when asked specifically about last week's bailout measures.

This poll, which closed on Sunday, ran for three days and collected the opinions of 1020 Americans.

Snark's Take

I've gotta say, I'd like to know on what basis these voters place the blame on the parties they hold accountable. Lending deregulation? The effect of the war on the economy? Context, people, context!

Was it wrong for the government to allow the sub-prime boom to cross the line as far as it did? Absolutely. One of my mobile news alerts referenced an ailing lender that was still selling sub-prime mortgages until Spring 2008, and now they're wondering why they're in trouble. There's nothing wrong with atoning for one's sins, but why should taxpayers bear the brunt of the government's steps to bail out companies victimized only by poor management and bad decisions?

Yeah, so a few industry execs have been ousted so far. A handful have been seized. Maybe it's my selfish, working-man-paying-the-bills shortsightedness, but I'm already feeling the pinch of the economy. I don't need to shell out more in taxes to pay for other peoples' bad decisions. Though I suppose imposing sanctions for questionable lending practices probably wouldn't help a whole hell of a lot right this minute either.

Where are we going in this pretty handbasket?

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