WW - Breaking: On Day of Speech, 58 Percent Oppose Obama Economic Plan

By Robert Romano

December 8th, 2009, Fairfax, VA—58 percent of voters oppose an Obama Administration plan to bail out states with "serious financial troubles" as the President gets set for an evening address to the nation on the state of the economy.

According to Rasmussen reports' most recent phone survey, "just 22% of Americans favor providing federal bailout funds to states with serious financial problems. Fifty-eight percent (58%) oppose giving bailout money to financially troubled states."

Obama is expected to outline his plans to send aid to California, New York, and other states near default with repaid TARP funds tonight when he addresses Americans who are increasingly on edge over the $12 trillion national debt, the sinking dollar, and over 17 percent U-6 unemployment.

The new Obama "stimulus" package will, according to the AP, send "the biggest chunk of fresh money to cash-strapped state and local governments."

to still have some of those challenges because usually state and local government revenues lag the recovery as a whole.  They may need some more help from the federal government."

Obama said it was up to the federal government to pay state bills. "Frankly, because state and local governments generally don't have the capacity to engage in deficit spending, some of that obligation falls on the federal government."

This would be Obama's second state bailout, and the nation's third stimulus over the last 2 years.  The $789 billion "stimulus" bill passed in January contained $53.6 billion to bail out state and local governments.

Americans for Limited Government President Bill Wilson is opposed to the Obama plan, blaming the states' troubles on "rapid increases in the number of government workers."

"The last thing the American people need is for bloated state and local governments to get a federal infusion of tax dollars to take on more overpaid, underworked government employees," Wilson said.

Robert Romano is the WIRE Senior News Editor.