The federal government has given Wall Street a taxpayer-financed cash infusion of up to $700 billion in an attempt to avert a steep economic downslide. But people on Main Street are also hurting, and a majority of Americans think the government hasn’t done enough for them, according to a recent poll by the Consumer Reports National Research Center.

Fifty-six percent of respondents said the government needs to do more to help average citizens through these difficult economic times. But only 17 percent of those polled said the government needs to do more for banks and financial institutions.

In the poll, a nationally representative telephone survey of 2,000 adults that CR conducted in late October, 29 percent said the government went too far in bailing out the financial industry. Thirty-nine percent were unsure.

Which reforms would help Main Street most? The following eight reforms are of most concern, respondents to the CR poll said, with roughly eight of 10 people saying they’re important or very important:

• Ensure the financial health of the Social Security system (88 percent).

• Reduce the national debt (87 percent).

• Protect pensions and other retirement accounts when companies or financial institutions go under (85 percent).

• Increase spending on energy exploration, energy efficiency and alternative-energy sources (84 percent).

• Ensure affordable health care for all Americans (82 percent).

• Increase regulation of financial institutions to ensure responsible practices (78 percent).

• Extend federal insurance to all deposits in savings and money-market accounts (78 percent).

• Cut taxes for working Americans (77 percent).

Top-down approach

The rescue plan enacted in October gave broad authority to the secretary of the Treasury to use as much as $700 billion to shore up the ailing financial industry. Economists say that it will ultimately help millions of people who are falling victim to the souring economy.

But back on Main Street, the rescue plan may seem like a bitter pill because the money is going to the financial institutions that many see as the cause of the problem. The people CR polled blamed several factors for the economic crisis, including poor lending practices by banks and mortgage companies (27 percent), lack of government oversight (26 percent), Wall Street greed (19 percent) and excessive borrowing by consumers (15 percent).

Lost jobs, health care

The top worry of poll respondents was the health of Social Security; 88 percent called the issue important or very important. It most likely looms large because of the increasing fragility of other sources of retirement income. Only about half of working Americans are enrolled in a pension or 401(k) plan. Americans have lost as much as $2 trillion in retirement savings over the past year and a half.

While retirees cope with diminished nest eggs, younger workers worry about unemployment increasing. It could reach 8 percent nationally, according to some estimates. With the loss of jobs comes the loss of healthcare coverage. Twenty percent of respondents in CR’s survey said they’re unable to afford medical bills or drugs; 15 percent said they lost coverage or their benefits were reduced because of the downturn.

Financial dos and don’t

• Can’t pay the mortgage? Do contact the lender immediately to ask about restructuring the loan.

• Don’t borrow against a 401(k).

• Do take advantage of employer contributions to 401(k)s.

• Don’t take a tax-refund-anticipation loan, since interest rates can run into the triple digits on an annualized basis.

• Do consider raising insurance deductibles, which reduces premiums.

• Don’t take cash advances from credit cards, since they can come with upfront charges and have a higher interest rate than regular card purchases.

• Do cut whatever is possible from the budget. To save on groceries, take advantage of sales and buy less expensive store brands. Trim expenses like premium cable service or pricey coffee drinks.