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The public continues to struggle with questions about the Troubled Asset Relief Program (TARP). Just 16 percent say, correctly, that more than half of the loans made to banks under TARP have been paid back; and an identical percentage says that none has been paid back.
The new survey finds an overwhelming 88 percent identify BP as the company operating the oil well that exploded in the Gulf of Mexico in April last year. But the public shows little awareness of international developments: 41 percent say that relations between India and Pakistan are generally considered to be unfriendly; 12 percent say relations between the two long-time rivals are friendly; 20 percent say they are neutral and 27 percent do not know.
Even more surprising, just 15 percent know that David Cameron is the Prime Minister of Great Britain; about as many say it is Tony Hayward, the former chief executive of BP.
On a different subject, 26 percent know that Android is the name of the Google operating system for smartphones, but there is a sizable age gap in that awareness. Far more people younger than age 50 (37 percent) compared to those 50 and older (11 percent) correctly answered this question.
While three-quarters are aware of the large U.S. budget deficit, far fewer could identify what the government spends the most on: national defense, education, Medicare or interest on the national debt. Some 23 percent say it is interest payments and 15 percent on Medicare. Government accounting indicates the government spends about twice as much on defense than on Medicare, and more than four times as much on defense as on interest in the debt.
We grumble about the inability of our elected representatives to solve problems, but maybe they reflect the rest of us. Perhaps the government should spend more on education!