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.

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The bailout plan would give the Treasury Department power to buy up mortgage debt from private firms, but Republicans, in particular, are challenging the unprecedented size of the plan and whether it will work. Bush contends the plan will free up credit for Americans and is meeting today with congressional leaders and the two major presidential candidates in hopes of reaching a deal. John McCain has even proposed delaying tomorrow night’s presidential debate until some kind of bailout plan is approved, although Barack Obama thus far has rejected the idea.

Sixty-two percent (62%) of voters say it is more important to create economic growth than to reduce the gap between rich and poor, but 32% disagree.

While McCain’s campaign appears to have suffered in recent days because of the economic situation, he is more in line with the majority view on this question. Seventy-one percent (71%) say creating economic growth is more important to the Republican candidate, while 62% believe reducing the gap between rich and poor is the priority for Obama.

Eighty-one percent (81%) of Republicans say creating economic growth is more important. Democrats give the edge to reducing the gap between rich and poor, 48 to 46%.

In a separate survey earlier this month, 51% said the federal government has too much control over the economy already. Slightly more voters (54%) believed the best thing the government can do is get out of the way by reducing regulation and taxes, although 32% disagreed.

In the new survey, Republicans are far more suspicious of government action than Democrats. While 77% of GOP voters worry that the government will do too much, just 47% of Democrats feel that way, and nearly as many (37%) fear the government won’t do enough. Only 15% of Republicans have the latter concern.

By an 18-point margin Republicans say the government should allow troubled companies to go bankrupt rather than rescue the financial markets. Democrats, too, favor a hands-off approach but only 40% to 36%.

Even government employees aren’t fans of government involvement. Only 27% think the government should step in to rescue the markets, and 62% worry that the government will do too much.

See survey questions and toplines. Crosstabs available for Premium Members only.