NEW YORK, N.Y. (SEND2PRESS NEWSWIRE) — A study conducted by Foreclosure1.com of its users shows support for Obama’s economic proposals, particularly those geared towards homeowners. When President Obama took office in January 2009, one of his first actions was to begin assembling an economic stimulus plan that would help revive the U.S. economy. The bill passed, although its $787 billion price tag caused some controversy, particularly among Republicans.
The stimulus package includes an $8,000 tax credit for individuals buying their first home, tax cuts spread out weekly on paychecks for individuals and families, an increase in the child tax credit, unemployment benefit extensions, and other measures aimed at providing immediate relief to those most affected by the economic downturn.
Even before the stimulus passed, Obama had passed measures to assist homeowners in danger of losing their homes through foreclosure. The measure rewarded lenders who reduced interest rates or refinanced mortgages to assist troubled homeowners.
While these measures have been controversial in some circles, a survey conducted between May 1 and June 1, 2009 of Foreclosure1.com users found most people support Obama’s efforts. More than 1,000 people from all over the United States and across both genders participated in the survey.
Sixty-nine percent of respondents supported Obama’s economic proposals – more than double the number of people who did not support the measures he has been taking to improve the financial situation of the country. More than half (55 percent) supported his effects to help homeowners who were at risk of losing their homes compared to just 27 percent who did not support these efforts. In fact, Obama’s efforts seem to have reduced concern about mortgages for most respondents.
When asked to identify the most important economic issue facing the country, only 16 percent named the mortgage crisis. In contrast, 35 percent said unemployment, 22 percent said inflation, and 13 percent said taxes.