Beltway Opposition Growing to Bailout

A new survey finds support for the Bush Administration’s $700 billion bailout is diminishing as more details emerge about the plan.

StrategyOne’s Beltway Barometer polled 412 DC-based policy makers and found support for the bailout dropped 10 points, from 73 percent to 63 percent, among Republicans and 21 points, 61 percent to 40 percent, among Democrats over the last two days.

“The trend in the overnight results suggests that support for the $700 billion bailout is eroding. In fact, it’s a tale of two nights, Monday night when elites were very concerned and reviewing the plan and Tuesday night after they had reviewed it”, said Robert Moran, Executive Vice President at StrategyOne.

Members of both parties agree the Treasury Secretary Hank Paulson’s 3-page proposal will be heavily amended. 68% of Republicans and 77% of Democrats surveyed believe that any bailout plan will have “significant amendments” and not pass in the “streamlined form.”

All of those polled have worked Congress, an Administration, the Judicial branch, A Federal Agency, the Pentagon, a trade or non-profit association, a PAC, political consulting, a lobbying firm, the media, or a multi-lateral NGO and currently live in the Washington metro area.