Americans vs The Big 3 Bailout

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17 Dec 2008 11:13 am

If Obama chooses the socialist model, he may be sacrificing a great deal of his political honeymoon to rescue the big bosses and big unions of Detroit. As Charles Franklin explains the polling right now, this is a problem:

Given the weakness of President Bush, and the modest engagement of President-Elect Obama, leadership [on the bailout issue] has fallen to members of Congress. There the Republican and Democratic split has reinforced public opinion divisions. But the key is that Independents are more inclined to follow Republicans, at least in the absence of a more forceful (or persuasive) Democratic message.

While it looks like the Bush administration may yet offer a "bridge loan" to the industry, this is a policy area that will confront the Obama administration early. At the moment, the pro-bailout position is a minority view. Either the new president will have to persuade those Independents to change their minds, or he will find he faces an early challenge to his ability to govern from a majority position. Little will erode his strong current public support faster than pushing for policies that face majority opposition. In this case, his tepid support for the auto-industry now may have missed the opportunity to convert Independents before their opposition has hardened. Or perhaps GM and Chrysler will file for Chapter 11 and spare him the task.

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