To boost economy, Americans want out of Iraq

Rebate checks could start showing up in mailboxes in May. However, Sanchez is typical in saying the money will “go automatically to bills.” Thirty-two percent said they would save or invest the rebate. Said Sims: “I’m hoping to hold onto it.”

Just 19 percent — like Dahlin — said they would spend it, while 4 percent said they would donate it to charity.

Paying off bills or saving the money won’t give the economy a quick boost, though it may well be a wise financial decision for many people who are up to their eyeballs in bills.

“What is good for the economy as a whole — spending a rebate — is not the best idea at an individual household level if you are buried in debt,” said Greg McBride, senior financial analyst at Bankrate.com. “Issuing rebate checks to give a boost to consumer spending amounts to a Band-Aid over the much bigger problem of consumer debt burdens,” he said.

With Wall Street in turmoil, the top economic worry for poll respondents was seeing their nest eggs shrink. Fifty-nine percent said they were worried “a lot” or “some” about seeing the value of stocks and retirement investments drop. Those approaching retirement fretted the most.

Nearly half — 46 percent — said they were worried about being able to pay their bills. This is especially a concern for people whose household incomes are under $50,000, and for minorities. Twenty-eight percent most feared losing their jobs; minorities and those with a high school education or less were especially concerned.

Also, 48 percent of homeowners polled worried that the value of their homes would drop. The housing bust has led to record-high foreclosures, and weaker home values have made people feel less wealthy.

Who deserves most of the blame for the economy’s troubles?

More than half — 56 percent — pointed the finger at mortgage lenders. Forty-four percent said Bush deserves a lot of the blame. After that come Congress, Wall Street, consumers themselves and in last place the Federal Reserve.

The Fed has the public’s confidence that it will be able to right the economy.

More than half — 55 percent — said they have a great deal or some confidence in Fed to turn things around. Forty-one percent said that about Congress, only 28 percent about Bush.

In fact, economic problems have contributed to pulling the president’s approval ratings to all-time lows. Only 29 percent approve of his handling of the economy, the lowest mark yet in this polling. Bush’s overall job-approval rating slid to 30 percent, also a record low.

The AP-Ipsos poll was conducted Monday through Wednesday this week and involved telephone interviews with 1,006 adults. It had a margin of sampling error of plus or minus 3.1 percentage points.

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