As it turns out Rick Santelli’s rant of the year struck more than just a nerve.
Behind it all is flood of taxpayers who would agree with him.
From Rasmussen Reports entitled: 55% Say Government Mortgage Help Rewards Bad Behavior
Fifty-five percent (55%) of American adults say the federal government would be rewarding bad behavior by providing mortgage subsidies to financially troubled homeowners. Among investors, 65% hold that view.
The latest Rasmussen Reports national telephone survey shows that, among all adults, just 32% disagree.
Seventy-seven percent (77%) of Republicans and 60% of those not affiliated with either major political party believe the mortgage help subsidizes bad behavior. Most Democrats (51%) disagree.
President Obama last Wednesday announced a $275-billion taxpayer-backed plan that would help as many as nine million Americans avoid foreclosure through measures including subsidized mortgage payments. Critics of the plan, including a widely circulated on-air challenge by CNBC editor Rick Santelli on the floor of the Chicago Board of Trade, say it subsidizes “losers” and “bad behavior” by homeowners who bought houses they knew they could not afford.
The Rasmussen Investor Index, which measures daily confidence, fell to a record low today.”
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