Tuesday, October 25, 2011

66% of Americans Dislike the Fed

Most voters don’t like the Federal Reserve, the nation’s central banking system, which one presidential candidate, Ron Paul, would like to abolish.
Thirty-four percent (34%) of Likely U.S. Voters share at least a somewhat favorable opinion of the Federal Reserve. That includes just five percent (5%) with a Very Favorable view of it. A new Rasmussen Reports national telephone survey finds that 50% have at least a somewhat unfavorable regard for the Fed, with 15% who see it Very Unfavorably. Another 16% are undecided.
The Political Class strongly disagrees.  Seventy-nine percent (79%) of the Political Class views the Fed favorably, while 57% of Mainstream voters hold an unfavorable opinion of the institution created in 1913 to regulate America’s money supply and oversee the nation’s banks. It is no wonder then that Sixty-eight percent (68%) of Likely U.S. Voters believe that government and big business work together against the interests of consumers and investors.
“This unholy alliance between the largest corporations and the government is a natural and inevitable result of moving away from a national commitment to self-governance,” wrote Scott Rasmussen in his book In Search of Self-Governance.  “As a result, the gap today between Americans who want to govern themselves and politicians who want to rule over them may be as big as the gap between the colonies and England during the 18th century. And that’s true whether Republicans or Democrats are in charge.”
Additionally, a recent poll shows that 51% believe the chairman of the Fed has too much power over the economy. Only nine percent (9%) disagree and say he does not have too much power.
Only 26% of Americans share a favorable view of Bernanke, including seven percent (7%) who view the chairman Very Favorably. Fifty-one percent (51%) view Bernanke unfavorably, with 29% who share a Very Unfavorable opinion of him. Another 24% have no opinion of the chairman.
Seventy-four percent (74%) agree with Ron Paul that auditing the Federal Reserve Board is a good idea, even though Bernanke is not willing to go that far.
A related survey finds that only seven percent (7%) of American Adults believe the average taxpayer benefited more than Wall Street from the bailouts. Seventy-four percent (74%) now think Wall Street benefited more. Overall, 68% believe that most of the bailout money went to the very people who created the nation’s ongoing economic crisis.
A Gallup Poll finds Americans are more than twice as likely to blame the federal government in Washington (64%) for the economic problems facing the United States as they are the financial institutions on Wall Street (30%).
These reports mirror the recent increase in dissatisfaction and distrust of the government. Keep in mind, these are the very folks we requested or allowed to be in power. 

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