We've seen the experts come out against the bailout plan, including both progressives and conservatives. Both Presidential candidates have voiced opposition to central components of the bailout plan. And an anecdotal survey of a town in Northern Virginia shows resentment against a plan that benefits those who don't deserve help.
Finally Rasmussen released a poll of the American public on the Paulson bailout plan. And while many Americans are not sure what to make of it, a plurality of Americans oppose it. 28% support it and 37% oppose it, with 35% unsure.
Among investors, which includes 62% of the country (indirect investors through 401(k)s and pension plans are counted as "investors") are evenly divided, while non-investor oppose it heavily.
Also, McCain supporters are evenly divided on it while Obama supporters oppose the plan 39-24.
What does this mean? First of all, a lot of Americans are on the fence on this. And it's hard to blame them. Finance is complicated and we've never been faced with a bailout like this before.
But if the Administration thinks it can fear-monger the American public into accepting the bailout, they are mistaken. Compared to the Iraq war vote in 2002, far fewer Americans instinctively support this measure.
One thing that seems certain - though this poll doesn't catch it yet - is that the more people hear about the Paulson plan, the more they oppose it.
If Obama leads opposition to this plan - even if to get a more favorable bailout - the public will come to his side.
In short, the public is highly persuadable on this. Only about a quarter of Americans think it's a good idea. And that number might drop (I supported it when first issued, but have since opposed it).
It's time for people here to write their Congressmen and Senators and tell them that you will not be blackmailed into supporting a bad bill that will hamper the taxpayers for years.
Let's have a real debate on this and get it right.