(Angus Reid Global Monitor) - Adults in the United States are clearly worried about the state of their country’s finances, according to a poll by Rasmussen Reports. 60 per cent of respondents believe the U.S. economy is not fundamentally sound, and 37 per cent blame private corporations for the current problems on Wall Street.

George W. Bush—a Republican—earned a second four-year term in the November 2004 presidential election. The next presidential election will take place on Nov. 4.

Since last year, defaults on so-called subprime mortgages—credit given to high-risk borrowers—have caused volatility in domestic and financial markets and raised concerns that the U.S. economy could fall into a recession.

Earlier this year, the U.S. government took control of mortgage lenders Fannie Mae and Freddie Mac. Other financial institutions—including Bear Stearns, Merril Lynch, Lehman Brothers, American International Group (AIG) and IndyMac Bancorp—have been sold, placed under bankruptcy protection, or received emergency loans from the Federal Reserve.

On Sept. 15, the stock market plummeted in North America, Europe and Asia. On Sept. 19, Bush explained the crisis, saying, "Problems that originated in the credit markets—and first showed up in the area of subprime mortgages—have spread throughout our financial system. This has led to an erosion of confidence that has frozen many financial transactions, including loans to consumers and to businesses seeking to expand and create jobs. As a result, we must act now to protect our nation’s economic health from serious risk."

Polling Data

Is the United States economy fundamentally sound?

Who is most to blame for the current problems on Wall Street?

Source: Rasmussen Reports
Methodology: Telephone interviews with 1,000 American likely voters, conducted on Sept. 18, 2008. Margin of error is 3 per cent.

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