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3 in 5 Americans Oppose Giving GM/Chrysler Cash

I'm one of those three!

Tags: gm, chrysler, government, bailout

3 in 5 Americans Oppose Giving GM/Chrysler CashMore than three in five Americans -- 61% -- oppose more government loans to General Motors Corp. and Chrysler LLC, according to a R.L. Polk survey released Monday that is consistent with other recent opinion research. The Polk results came one day after President Barack Obama told CBS "60 Minutes" interviewer Steve Kroft that "the only thing less popular than putting money into banks is putting money into the auto industry."

In the Great Lakes region, where auto manufacturing is more prevalent, 16% "strongly agreed" when asked by Polk if they supported loans for GM and Chrysler. That compares with only 4% in the New England region.

Lonnie Miller, a Polk analyst, declined to share the level of opposition from other regions because the number of respondents was not large enough to be statistically significant. In the Polk survey, about the same percentage of people who opposed more loans also recognized that denying them would have dire economic consequences.

Miller said the data reveal an attitude of "it's a problem, but it's not a problem for taxpayers." GM and Chrysler expect a March 31 decision by the president's auto task force on their latest loan requests.

Source: Freep

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Divine's Avatar
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Divine at 11:28 AM on 3/27/09

Take the Unions out of the Auto Industry. Let the companies say how much their employees are going to get paid and get rid of all the high dollar benefits. There has to be a way to save money within the company. Obviously they are not spending it on advertisement. I haven't seen the first Camaro commercial.

transamws6's Avatar
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transamws6 at 12:32 PM on 3/27/09

let them go bankrupt wipe their debt reove the unions from power, i am sure there are thousands of nonunion workers that would want a job making 10-20 anhour + normal benefits to put together cars (a nice salary for a non trained laborer) and then we would have the gm we want.... Wink

CamaroZach's Avatar
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CamaroZach at 12:33 PM on 3/27/09

$10 says obama gives them money since hes in debt to the unions.

SixVi6Camaro's Avatar
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SixVi6Camaro at 1:27 PM on 3/27/09

Realize this.. auto makers are looking for around 20 billion with GM and Chrysler taking most of that but its a drop in the bucket... Bank of America has already received 1.5x that amount, Citi Group 2x that amount and AIG over 6x that amount, Plus hundreds of smaller banks have received about 250 Billion on top of that! All those billions just gone and since the bailout money was given with no questions asked and no checks on how the money was used... it literally was swallowed up never to be found. At least the Auto makers are forthcoming and have shown where the money has gone and what they will do with future funding and are willing to show the books to federal regulators to prove it.

I will agree that the American automakers had their head up their ass for too long and put themselves into this situation but I say give it to the Auto Makers. I'd rather pay to see them stay afloat rather than these scum banks that caused all the problems say alive with their Execs making millions of dollars a year while the country's economy crashes. I've read reports where banking execs making 1 million dollars a month salary with several million a more in guaranteed bonuses is the common salary. Greed is one hell of a sin.

FlyinGTP's Avatar
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FlyinGTP at 5:43 PM on 3/27/09

i think the biggest thing is how do you decide who gets money and who doesn't. Yes gm and chrysler have made some poor calls over the years but look at what AIG, Citigroup and others have done before bailouts and since bail outs. how do you justify bailing out one company and not another. I personally think that the government is trying to fix the ecomony from the top down but that is another discussion.

Wallywall's Avatar
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Wallywall at 6:27 PM on 3/27/09

We need to stop giving money out to everyone and let them fail or rise above. Companies will fall and people will lose their jobs. Then new companies will form and create new jobs.

00firebird's Avatar
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00firebird at 12:43 PM on 3/28/09

money will be better cycled into the economy giving it to automakers than the banks Roll Eyes

PowerShift408's Avatar
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PowerShift408 at 8:03 PM on 3/30/09

It will be taxpayers' problems when they don't have any money to pay their taxes, much less the necessities of life.

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