Dec. 10 (Bloomberg) -- Americans give President-elect Barack Obama high marks for his appointments and policies while expressing skepticism about what he will be able to do to improve their financial situation.

Almost three-quarters of adults say Obama makes them feel “hopeful,” “optimistic” or “proud,” a Bloomberg/Los Angeles Times poll conducted Dec. 6-8 finds. Even more approve of the way he is handling the transition to the White House, and 59 percent say they have a good idea of where he wants to lead the country.

Even so, more than half of respondents say Obama’s policies won’t help their personal finances, which they expect to stay the same or worsen. And almost 7 out of 10 say he will accomplish only some or few of his campaign goals.

Americans are realistic about what’s possible in an economic crisis, says Susan Pinkus, the Los Angeles Times polling director.

“They’ve been very pragmatic about it,” Pinkus says. “People want him to succeed because things are really bad.”

Obama has “a big chore ahead of him,” says retiree James Hensel, 67, a poll respondent in Fort Wayne, Indiana. Hensel, who worked as a manager in the automobile-supply industry, says he backs Obama even though he voted for Republican John McCain. “He’s now our president, and I will support him.”

Health Care, Iraq

Underscoring the public’s anxiety over the economy, respondents are divided over whether Congress should back a plan to rescue the nation’s automakers, though a huge majority says it would be a problem if the car industry collapsed. Three in 5 poll respondents say that would be a “major problem.”

Outside of the economy, Americans rate the Iraq War, followed by health care, as the most pressing issues, with energy and tax cuts trailing. While more than half of respondents say they believe Obama, 47, will be able to reduce U.S. dependence on foreign oil, a plurality says he won’t be able to fulfill his campaign promise of providing universal health care.

On the other hand, almost half say they are confident Obama will be able to make good on his pledge to withdraw from Iraq in 16 months. And more than two-thirds trust the president-elect on national security, even though he was criticized for his lack of experience in that area during the campaign.

Cabinet Picks

Most Americans approve of Obama’s choices for his Cabinet and other top posts. More than 3 out of 5 say he is appointing people who know their way around Washington yet can bring about “real change,” dismissing arguments that he has tapped too many Bill Clinton administration insiders.

Respondents say they approve of the appointment of former rival Hillary Clinton as secretary of State by a 2-to-1 margin. Even more popular is Obama’s decision to retain Defense Secretary Robert Gates, which they endorse 75 percent to 12 percent.

Overall, 55 percent of Republicans say they approve of the way Obama is handling the transition.

“He’s looking at qualifications more than politics,” Hensel says.

Obama’s quick economic appointments offer reassurance, Pinkus says. Almost 8 out of 10 people say they have at least some confidence that his team -- which includes New York Federal Reserve Bank President Timothy Geithner as Treasury secretary and former Treasury chief Lawrence Summers as White House economic director -- will be able to resolve the crisis.

Economic Conditions

The skepticism among the 1,000 adults participating in the poll may have more to do with the tough economic conditions than doubts about Obama’s qualifications or actions, Pinkus says.

Nine of 10 Americans say the economy is doing badly, with most opting for “very badly.” The country is heading in the wrong direction, according to two-thirds of respondents in the poll, which has a margin of sampling error of plus or minus 3 percentage points.

Americans are evenly split on the question of whether Obama should work with President George W. Bush on the financial crisis or wait until he is inaugurated on Jan. 20 to get involved. They are more certain about Republicans and Democrats working together in the future: More than 7 out of 10 say they have at least some confidence that Congress will exhibit bipartisanship in the next two years.

Shaking Things Up

And they expect Obama to shake things up in Washington, with almost 6 in 10 saying his Cabinet appointments are consistent with his campaign slogan of change. By almost a 3-1 margin, more Americans expect their taxes to go up under Obama, though a plurality expects no change. Almost half say they wouldn’t be willing to pay more taxes to help solve the financial crisis; 2 out of 5 say they would.

Meanwhile, first-lady-to-be Michelle Obama has made a good impression. A majority of respondents see her favorably and only about 1 in 8 has an unfavorable view; slightly more than a quarter of respondents say they aren’t aware of her.

That good will also extends to her husband.

“I am pleased about everything,” says Ronea Griffin, 27, a retail worker in Washington who voted for Obama. “He’s telling people what he wants to do and why he’s doing it.”

One finding from the poll that works to Obama’s advantage is the comparison to the current president, who has historically high negative ratings. Bush is viewed as a “below average” president by 62 percent of respondents, while 2 in 5 describe him as “poor” and only 1 in 10 say he is “above average.”

To contact the reporters on this story: Kristin Jensen in Washington at kjensen@bloomberg.net; Catherine Dodge in Washington at cdodge1@bloomberg.net

Last Updated: December 9, 2008 17:00 EST