America and the Debt Ceiling

[Modbert]

I've been seeing the Gallup poll where the majority of Americans don't want to raise the debt ceiling by many of those in the "don't raise the ceiling" crowd. However, there are two other polls that I feel that should also be seen.

Gallup: Majority Of Americans Still Oppose Raising Debt Ceiling : It's All Politics : NPR

It may say more about the state of economic education in the nation than anything else but a majority of Americans remain opposed raising the federal debt ceiling according to a new Gallup poll.

And that's despite dire warnings by policymakers and experts that a default by the U.S. government could be calamitous. It would likely cause higher interest rates not just for the federal government but throughout the economy.

That, by the way, would make the nation's deficits and debt troubles even worse and hamstring an already slowly growing economy. Then there are all the unknown consequences. Who wants to take a chance on that?

Apparently, a lot of Americans are in a gambling mood.

According to a Gallup survey done in the last several days, 42 percent of Americans want their member of Congress to vote against raising the debt ceiling versus 22 percent who would prefer their lawmakers to vote for an increase.

On Deficit, Americans Prefer Spending Cuts; Open to Tax Hikes

And from the most interesting poll of all from March:

WSJ/NBC News Poll Finds Support Lacking for Entitlement Reductions - WSJ.com

In the poll, Americans across all age groups and ideologies said by large margins that it was "unacceptable'' to make significant cuts in entitlement programs in order to reduce the federal deficit. Even tea party supporters, by a nearly 2-to-1 margin, declared significant cuts to Social Security "unacceptable."

Conclusions:

1.) The majority of Americans currently do not want to raise the debt ceiling.

2.) The majority of Americans are open to tax hikes.

3.) The majority of Americans want large spending cuts.

4.) The majority of Americans, including across all age groups and ideologies by large margins do not want significant cuts to entitlement programs.

So tell me USMB, if we listen to America, how are we going to dig ourselves out of this hole?

 

[Oddball]

Wow...People want free lunch at everyone else's expense...Who knew?

Oh, that's right...Frédéric Bastiat knew, over 200 friggin' years ago!

The Law, by Frederic Bastiat

 

[Dont Taz Me Bro]

1.) The majority of Americans currently do not want to raise the debt ceiling.

2.) The majority of Americans are open to tax hikes.

3.) The majority of Americans want large spending cuts.

4.) The majority of Americans, including across all age groups and ideologies by large margins do not want significant cuts to entitlement programs.

So tell me USMB, if we listen to America, how are we going to dig ourselves out of this hole?

Americans simply can't have everything Americans want. That's why we need real leaders in D.C. to do what is necessary rather than a bunch of cowards trying to cover their political asses.

 

[AquaAthena]

Wow...People want free lunch at everyone else's expense...Who knew?

Oh, that's right...Frédéric Bastiat knew, over 200 friggin' years ago!

The Law, by Frederic Bastiat

But not too much lunch. After all, if your kids are too fat ( define that ) they could be taken away from you and put into foster homes. I know that the 50% of people who pay federal taxes here, would love to help support your kids ????

 

[Modbert]

Americans simply can't have everything Americans want. That's why we need real leaders in D.C. to do what is necessary rather than a bunch of cowards trying to cover their political asses.

Like McConnell.

I just thought it was silly to be posting a poll that shows Americans are in favor of not raising the debt ceiling because Americans also wanted the other things I mentioned.

 

[kyzr]

Conclusions:

1.) The majority of Americans currently do not want to raise the debt ceiling.

2.) The majority of Americans are open to tax hikes.

3.) The majority of Americans want large spending cuts.

4.) The majority of Americans, including across all age groups and ideologies by large margins do not want significant cuts to entitlement programs.

So tell me USMB, if we listen to America, how are we going to dig ourselves out of this hole?

1. not wanting to and having to are two different things. We all want the DC whores to stop wasting money.
2. We are all in favor of letting the Bush Tax cuts expire. that will nearly balance the budget. The tax rates during the Clinton era were not that bad, and brought prosperity.
3. We want the Budget to go from $4-trillion back to around $2-trillion like it should be.
4. The key word there is "significant" entitlement cuts. Raise the age a year or two and lift the cap and SS is saved.

To get out of the hole do these:
1. Eliminate all foreign aid
2. Eliminate all subsidies
3. Eliminate all tax loop-holes
4. Put a transaction tax on all Wall Street trades
5. Tax short-sales of stock & derivatives heavily
6. Put limits on Medicare & Medicaid like regular insurance's "Maximum Lifetime Benefit" based on your contributions. No freeloaders.
7. Cut defense spending and end the wars

 

[Dr.House]

Totals: Only/mostly cuts - 50%
Totals: Only/mostly tax hikes - 11%

No surprise, but that discredits your conclusion #2...


BTW, March was over 3 months ago... Something more current is a better pulse...

 

[Modbert]

Totals: Only/mostly cuts - 50%
Totals: Only/mostly tax hikes - 11%

No surprise....


BTW, March was over 3 months ago... Something more current is a better pulse...

If you have the poll, feel free to cite it. I couldn't find anything more recent.

 

[Dr.House]

Here's a link to the Gallup poll without NPR's spin on it.:

U.S. Debt Ceiling Increase Remains Unpopular With Americans

 

[Toro]

Totals: Only/mostly cuts - 50%
Totals: Only/mostly tax hikes - 11%

No surprise, but that discredits your conclusion #2...


BTW, March was over 3 months ago... Something more current is a better pulse...

Right. Except when the spending cuts affect them. Then people are against it. Rick Scott is polling at 29% down here in Florida - an all-time low - because he is doing exactly what he said he'd do. Can't blame Scott. He's doing what he promised. The public thought slashing spending meant cutting other people's spending, not firing the teacher at their kids' schools. Same as NY-26. That was all about the Ryan budget. Cut spending? We're for it! Cut Medicare? That affects me, so no!

 

[Dr.House]

Here's a link to the Gallup poll without NPR's spin on it.:

U.S. Debt Ceiling Increase Remains Unpopular With Americans

Followup question from the poll:

A follow-up question finds Americans more sympathetic to the Republicans' argument than Obama's. Specifically, when asked to say which is their greater concern, 51% say raising the debt ceiling without plans for major future spending cuts concerns them more, while 32% are more concerned with the risk of a major economic crisis if Congress does not take action.

 

[PixieStix]

If you google American'S and the debt ceiling you will find this

U.S. Debt Ceiling Increase Remains Unpopular With Americans

 

[Remodeling Maidiac]

The fact of the matter is this...

We can't get out of this mess by increasing taxes. Even if raised to 100% on the wealthiest.

We can however get out of this mess using cuts to the budget.


So you get the pain of one or both. Obviously tax increases can severely stem growth (just like Obama said) so that leaves one common sense choice. If republicans cave I will vote only 3rd party or tea party next election.

 

[Dr.House]

Totals: Only/mostly cuts - 50%
Totals: Only/mostly tax hikes - 11%

No surprise, but that discredits your conclusion #2...


BTW, March was over 3 months ago... Something more current is a better pulse...

Right. Except when the spending cuts affect them. Then people are against it. Rick Scott is polling at 29% down here in Florida - an all-time low - because he is doing exactly what he said he'd do. Can't blame Scott. He's doing what he promised. The public thought slashing spending meant cutting other people's spending, not firing the teacher at their kids' schools. Same as NY-26. That was all about the Ryan budget. Cut spending? We're for it! Cut Medicare? That affects me, so no!

From what I understand, the cuts would not effect current plan members... I understand why the democratics are playing to the fears of the older folks....

 

[Dr.House]

The fact of the matter is this...

We can't get out of this mess by increasing taxes. Even if raised to 100% on the wealthiest.

We can however get out of this mess using cuts to the budget.


So you get the pain of one or both. Obviously tax increases can severely stem growth (just like Obama said) so that leaves one common sense choice. If republicans cave I will vote only 3rd party or tea party next election.

Apparently democratics don't want to eat their peas...

 

[martybegan]

I've been seeing the Gallup poll where the majority of Americans don't want to raise the debt ceiling by many of those in the "don't raise the ceiling" crowd. However, there are two other polls that I feel that should also be seen.

Gallup: Majority Of Americans Still Oppose Raising Debt Ceiling : It's All Politics : NPR

It may say more about the state of economic education in the nation than anything else but a majority of Americans remain opposed raising the federal debt ceiling according to a new Gallup poll.

And that's despite dire warnings by policymakers and experts that a default by the U.S. government could be calamitous. It would likely cause higher interest rates not just for the federal government but throughout the economy.

That, by the way, would make the nation's deficits and debt troubles even worse and hamstring an already slowly growing economy. Then there are all the unknown consequences. Who wants to take a chance on that?

Apparently, a lot of Americans are in a gambling mood.

According to a Gallup survey done in the last several days, 42 percent of Americans want their member of Congress to vote against raising the debt ceiling versus 22 percent who would prefer their lawmakers to vote for an increase.

On Deficit, Americans Prefer Spending Cuts; Open to Tax Hikes

And from the most interesting poll of all from March:

WSJ/NBC News Poll Finds Support Lacking for Entitlement Reductions - WSJ.com

In the poll, Americans across all age groups and ideologies said by large margins that it was "unacceptable'' to make significant cuts in entitlement programs in order to reduce the federal deficit. Even tea party supporters, by a nearly 2-to-1 margin, declared significant cuts to Social Security "unacceptable."

Conclusions:

1.) The majority of Americans currently do not want to raise the debt ceiling.

2.) The majority of Americans are open to tax hikes.

3.) The majority of Americans want large spending cuts.

4.) The majority of Americans, including across all age groups and ideologies by large margins do not want significant cuts to entitlement programs.

So tell me USMB, if we listen to America, how are we going to dig ourselves out of this hole?

The simple fact is that your average american has no idea how governmental level finance works. Hell, even on this board, a place where you expect to find people slightly more educated and up to date on what the mechanics are behind things like this there are still some people who don't have a clue what is actually happening.

 

[Toro]

The simple fact is that your average american has no idea how governmental level finance works. Hell, even on this board, a place where you expect to find people slightly more educated and up to date on what the mechanics are behind things like this there are still some people who don't have a clue what is actually happening.

I had read that internal Republican polling found that Americans believed you could balance the budget by cutting foreign aid.

 

[Wacky Quacky]

You know what poll I would like to see. If Americans support cuts that are spanned over 10 years so it only looks like something is being done, but it really isn't.

 

[Modbert]

I had read that internal Republican polling found that Americans believed you could balance the budget by cutting foreign aid.

I would laugh but that's so sad and scary at the same time it's insane.

 

[Annie]

The simple fact is that your average american has no idea how governmental level finance works. Hell, even on this board, a place where you expect to find people slightly more educated and up to date on what the mechanics are behind things like this there are still some people who don't have a clue what is actually happening.

I had read that internal Republican polling found that Americans believed you could balance the budget by cutting foreign aid.

I've always had a very high regard for you, after googling this, I think some linkage is in order. Thanks.