Only 30% of Americans Want a Wall Street Bailout

Only 30% of U.S. voters think the federal government should step in to rescue the country’s troubled financial markets, according to a new Rasmussen Reports national telephone survey.

A sizable majority (63%), in fact, are worried that the federal government will do too much to respond to the current woes. The survey was taken Wednesday night, even as President Bush was making a nationally televised address urging Congress to pass the $700-billion taxpayer-backed bailout plan proposed by his administration.

A week ago, just 49% were worried the government would do too much.

Just 25% now fear the federal government will not do enough. That figure is down from 36% last week.

Half of voters (50%) say it’s better for the government to let the companies that made financial mistakes go bankrupt (see crosstabs).

The findings echo a survey earlier this week that found voter opposition to the bailout plan was growing, even though voters still expected Congress to pass it.

Investor confidence, meanwhile, fell this morning to the lowest level ever recorded by the Rasmussen Investor Index. But even though the meltdown in the housing market is largely to blame for the present economic situation, 66% of voters still believe buying a home is the best investment most families can make.

Fifty-one percent (51%) of investors also think the government should let troubled companies go bankrupt versus 29% who support government intervention in the financial markets. Two-thirds of investors (66%) worry the government will do too much.