Just 25% of Americans blame “Wall Street Investors” for the nation’s current problems with subprime mortgages and foreclosures. A Rasmussen Reports national telephone survey found that 54% say that “individuals who borrowed more than they could afford” are to blame.

The public offers mixed signals when it comes to what should be done next. Just 26% say that the Federal Government should aid Americans who took out sub-prime loans on homes and now face foreclosure. Thirty-nine percent (39%) disagree and oppose Federal aid while nearly as many, 35%, are not sure.

At the same time, half the nation’s adults (54%) favor a 90-day moratorium on homeowner foreclosures and a five-year freeze on interest rates for Adjustable Rate Mortgages. Just 25% oppose this plan while 20% are not sure. It may be that people see this as a transition measure rather than direct Federal assistance.

The mixed response may also result from the fact that most Americans are not paying all that much attention. Overall, just 19% of Americans say they followed news of President Bush’s negotiations with the mortgage companies Very Closely. Another 37% have been paying attention Somewhat Closely.

Responses to most questions on the survey showed surprisingly little difference between demographic groups, even by income. However, there are significant partisan differences.

Republicans, by a 69% to 12% margin, believe that individuals who borrowed more than they could afford are to blame. Voters not affiliated with either major political party share that view by an 52% to 25% margin. Democrats are fairly evenly divided—37% blame Wall Street Investors while 42% blame individual investors.

As to whether Federal assistance should be offered, Democrats say yes by a narrow 37% to 30% margin. Republicans say no (49% to 19%) and so do unaffiliated voters (39% to 21%).

The Discover Consumer Spending Monitor, based upon Rasmussen Reports survey data, found that just 51% of Americans expect to have money left over after paying their bills in December.

The Country Financial Security Index found that 81% of Americans are at least Somewhat Confident in their ability to pay all debts as they come due. Fifty-one percent (51%) rate their own financial security as good or excellent.

The Rasmussen Consumer Index, a daily measure of economic and consumer confidence, has recently dipped to the lowest levels in four-and-a-half years.

The Hudson Employment Index fell to its lowest level ever in November.

Rasmussen Reports will release additional information on the mortgage crunch later this week.

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