78% Of Americans are worried that their tax dollars are being wasted

Gallup poll reveals Americans “very worried” about financial future

Steve Watson
Monday, August 17, 2009

A new Gallup poll has revealed that the majority of Americans are directly opposed to the Obama administration’s economic policy.

57% say the so called economic “stimulus” package is having no impact on the economy or making it worse, reports USA Today, who commissioned the poll.

According to the figures, just 18% believe that the stimulus plan is having any effect on their financial situation.

60% say the Obama policy will have no effect or will make things worse in the long term, with 51% feeling that the government has spent too much on the stimulus.

Over three-quarters of those questioned, 78%, said they were either “very worried” or “somewhat worried” that their tax dollars are simply being wasted.

The full poll results are here.

House Minority Whip Eric Cantor, R-Va, stated that the results indicate a growing resentment among the American people for the Obama administration in general.

“This is a wake-up call for the administration. People see the stimulus hasn’t worked, and now you want to lay on over $1 trillion in a health care plan.” Cantor commented.

“Is it any wonder the public has lost trust and confidence in these players and our government?” asks The International Forecaster’s Bob Chapman in a dire warning of worse to come.

“The Fed’s Wall Street bubble, as we forecast in January, will need at least $2 trillion more in 2010, if the economy is to just stay on an even keel.” Chapman writes.

“The massive debt liquidation particularly in banking, Wall Street and in insurance demands many more trillions of dollars. $23.4 trillion is not going to be enough. Presently the Fed is in the process of monetizing $2 trillion in Treasuries, Agency paper, such as Fannie Mae and Freddie Mac and collateralized debt obligations held by lenders. It is a secret what the Fed is paying for this almost worthless paper.”

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