House Representatives must pass Bailout Bill

Most Americans see the current financial situation as a "crisis," and there is overwhelming concern that the failure of the House of Representatives to pass the economic recovery package will deepen the problem, according to a new Washington Post-ABC News poll.

But the poll also revealed significant public concern with the bill Congress rejected yesterday, as few voters said the package did enough to protect "ordinary Americans," and nearly half said it did not go far enough to shore up the nation's economy.

Nevertheless, nearly nine in 10 expressed concern that the failure of the bill could lead to a more severe economic decline, including a slim majority calling themselves "very worried." High levels of concern cross party lines, but Democrats and Republicans have contrasting views of the urgency of the situation. In the poll, 60 percent of Democrats call the economic woes a crisis, compared with 44 percent of Republicans.

Overall, voters split about evenly on the failed bill -- 45 percent supported it, 47 percent opposed it. Among the reasons for the tepid public reception is that there is a roughly even divide about whether government efforts will prevent the financial situation from deteriorating further still.

With Americans split on the bailout Bill, now is the time to act to pass it before it is too late. A financial system meltdown will have global impacts on the entire banking system and threatens the livelihood of all industrialized countries.