Poll: Americans dubious of government forgiving mortgages

August 9, 2010

Superpollster Scott Rasmussen apparently noticed my recent column:

A new Rasmussen Reports national telephone survey finds that:

1. 58% oppose a proposal to have the federal government forgive a portion of the mortgage debt owned by troubled homeowners.

2. 63% of voters think a government mortgage forgiveness program is unfair to those who have been regularly paying their mortgages …  vs. 23% who disagree and believe such a program is fair.

3. 48% of homeowners think government-ordered mortgage forgiveness for some homeowners would be bad for the economy … 30% say it would be good for the economy, and 15% believe it would have no impact.

4. Nearly half (49%) of Democrats say government-ordered mortgage forgiveness for some homeowners would be good for the economy. Sixty-seven percent (67%) of GOP voters disagree and say the plan would be bad for the economy. Among unaffiliated voters, 33% say good, but 47% say bad.

5. Sixty-eight percent (68%) of the Political Class say a mortgage forgiveness plan would be good for the economy. Fifty-five percent (55%) of Mainstream voters feel otherwise and think it would hurt the economy.


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If this was a feeler put out by the administration (which govt officials are known to do from time to time on contentious issues) then the answer is in and obvious. But getting smug for posting a rumour because you feel it will help republicans in the next election (when really it was for dems to gauge opinion/support) is a bit much.

I want to be clear that I think that the govt forgiving frannie loans would be an extremely terrible idea for too many reasons to list here.

Also want to say that the big problem in America now isn’t taxes here or credits there… it’s more a ‘chicken and the egg’ problem. Businesses have tonnes of cash, but they don’t hire because they want to see demand improve (ie they’re looking at employment numbers)… but demand can’t improve until employment comes back. Someone’s gotta flinch, and it doesn’t look like the consumers have the will or firepower available now or anytime soon. So in the true spirit of republican ‘small govt’, corps shouldn’t get govt dollars/hand-out/subsidy to get them hiring to break the stare-down, they should do it to ‘trickle-down’ all that 0% cash they are hoarding. Maybe then the people wouldn’t be screaming bloody murder and demanding punitive tax-rates that help no one. But I’m a little off topic here…


Posted by CDN_finance | Report as abusive

I don’t believe most of those polled were aware of who would suffer if President Obama’s mortgage forgiveness plan would ever become a reality. The derivative default swap fiasco that ripped our economy to pieces was in large part to too how many times mortgages were sold. The only real loser would be the last owner of the mortgages and I don’t think the public really cares if they get burned. Maybe if that Geitner fellow relinquishes some real information regarding who stands to lose, the President will have an easier time selling the concept to everyone and once again embarrass the Senate republicans, again.

Posted by Tim456897 | Report as abusive