When automakers first came to Congress, Americans overwhelmingly opposed making loans to General Motors Corp. and Chrysler LLC to help them through their cash crisis. However, a new poll shows that by the time President George W. Bush approved $13.4 billion in automaker loans on Friday, the nation had changed its collective mind.
The poll of 1,013 adults, conducted by Opinion Research Corporation for CNN Dec. 19-21, showed that 63% supported the loans to the two automakers. But if they need more money, forget it. Some 70% of Americans say the companies should be allowed to go into bankruptcy, rather than get more federal help.
Other findings of the poll, which had a margin of error of plus or minus 3 percentage points:
• 28% of Americans think that GM and Chrysler will pay back most or all of the loans.
• 65% think a bankruptcy of one or more of the Detroit Three would cause major problems or a crisis in the U.S. economy.
• 34% say it would be somewhat or very likely that they would buy a car from a company in bankruptcy.
• 82% have a negative opinion about U.S. car company executives.
• 61% have a negative opinion about the leaders of the auto workers’ union.
• 73% have a positive view of people who work for the Detroit Three (as long as they aren’t the company or union execs).
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