Monday, November 22, 2010
For the first time, most Americans don’t think last year’s government bailout of General Motors and Chrysler was a bad move.
A new Rasmussen Reports national telephone survey finds that just 46% of Adults say that it was bad idea for the federal government to provide bailout funding for GM and Chrysler. Thirty-eight percent (38%) say the bailouts were a good idea, but 16% remain undecided. (To see survey question wording, click here.)
But General Motors has been posting more positive news in recent months and last week announced a $15.8-billion public stock offering. According to the Los Angeles Times, the government received $11.8 billion in that stock offering and reduced its ownership stake in GM from 61% to 36%.
However, the price of General Motors stock will have to rise significantly for taxpayers to recoup the $50 billion in direct bailout funds given to GM. Since its initial offering, GM stock has fallen slightly.
The survey of 1,000 Adults nationwide was conducted on November 18-19, 2010 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
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