America and the Debt Ceiling

[Modbert]

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

Ryan dings tea partiers on cuts - Jennifer Epstein - POLITICO.com

“They literally think you can just balance” the budget by cutting “waste, fraud and abuse, foreign aid and NPR,” the Wisconsin Republican said in an interview with The Associated Press published Friday. “And it doesn’t work like that.”

As Congress debates budget poll shows public is woefully misinformed - National Political Buzz | Examiner.com

For example, most Americans believe that 5% of the federal budget ($142 billion) goes to the Corporation for Public Broadcasting which, among other things, helps fund NPR. In reality the CPB receives $424 million, not billion, in funding. This means that the public believes NPR and other programs receive 424 times the amount of funding they actually receive. In reality, cutting fund to NPR would be less than a drop in the bucket of the current federal deficit.

Another prominent example is foreign aid. Americans believe that we currently spend 10% of our budget on foreign aid ($356 billion). In reality, the United States spends less than 1% of the overall budget on foreign aid.

Full poll results here:

http://i2.cdn.turner.com/cnn/2011/images/03/31/rel4m.pdf

Republicans alone on Foreign Aid % of total spending:

49% of Republicans thought it was 1-10%. 18% thought it was 11-20%. 13% thought it was 21-30%. 16% thought it was higher.

Only 3% said less than 1%.

Toro is likely right.

 

[Oddball]

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.

Goofy for sure.

Yet not nearly as batshit batty as the congressional Minority Leader coming out and saying that unemployment checks stimulate the economy.

Truly, there is enough batsht batty to go around.

 

[Annie]

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

Ryan dings tea partiers on cuts - Jennifer Epstein - POLITICO.com

“They literally think you can just balance” the budget by cutting “waste, fraud and abuse, foreign aid and NPR,” the Wisconsin Republican said in an interview with The Associated Press published Friday. “And it doesn’t work like that.”

As Congress debates budget poll shows public is woefully misinformed - National Political Buzz | Examiner.com

For example, most Americans believe that 5% of the federal budget ($142 billion) goes to the Corporation for Public Broadcasting which, among other things, helps fund NPR. In reality the CPB receives $424 million, not billion, in funding. This means that the public believes NPR and other programs receive 424 times the amount of funding they actually receive. In reality, cutting fund to NPR would be less than a drop in the bucket of the current federal deficit.

Another prominent example is foreign aid. Americans believe that we currently spend 10% of our budget on foreign aid ($356 billion). In reality, the United States spends less than 1% of the overall budget on foreign aid.

Full poll results here:

http://i2.cdn.turner.com/cnn/2011/images/03/31/rel4m.pdf

Republicans alone on Foreign Aid % of total spending:

49% of Republicans thought it was 1-10%. 18% thought it was 11-20%. 13% thought it was 21-30%. 16% thought it was higher.

Only 3% said less than 1%.

Toro is right.

Suddenly Toro needs you? That certainly says it all. The links of course have nothing to do with what he posted.

 

[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.

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

Polls illustrate the conundrum faced by the Republicans. In survey after survey, the old folk largely embrace Republican rhetoric about reducing the size of the federal government and keeping taxation low. The elders especially despise what is commonly known as Obamacare, with 54% of likely voters in this age group favoring repeal in contrast to 51% of all likely voters, according to Rasmussen Reports. But when asked if they favor the Medicare reform plan by Republican Rep. Paul Ryan of Wisconsin and endorsed by GOP leaders in the House, they equivocate.

According to a recent Rasmussen, 33% of the likely voters 65 and older support the plan, 27% oppose it, and 40% don't know whether or not to embrace it. This is similar to the results from younger likely voters who would, in fact, be impacted by the Ryan plan. … The uncertainty is a big negative for the GOP.

Among all likely voters, only 47% say there is a need to make major changes in Medicare and 36% don't think any changes are needed at all. A Hill source says that polls conducted exclusively for the GOP produced a more startling result: A majority of likely voters believes that the budget can be balanced merely by eliminating all foreign aid.

Older Voters Balk at Ryan's Medicare plan - Barrons.com

 

[Modbert]

Suddenly Toro needs you? That certainly says it all. The links of course have nothing to do with what he posted.

He doesn't need me. I'm just pointing out that he's right. I understand of course you're not going to like the results of said polls.

 

[GWV5903]

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.

Goofy for sure.

Yet not nearly as batshit batty as the congressional Minority Leader coming out and saying that unemployment checks stimulate the economy.

Truly, there is enough batsht batty to go around.

The sad truth is she was the Majority Leader....

 

[Modbert]

Older Voters Balk at Ryan's Medicare plan - Barrons.com

That's crazy. However, we can obviously we can balance the budget by stopping funding for NPR.

 

[Annie]

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.

Polls illustrate the conundrum faced by the Republicans. In survey after survey, the old folk largely embrace Republican rhetoric about reducing the size of the federal government and keeping taxation low. The elders especially despise what is commonly known as Obamacare, with 54% of likely voters in this age group favoring repeal in contrast to 51% of all likely voters, according to Rasmussen Reports. But when asked if they favor the Medicare reform plan by Republican Rep. Paul Ryan of Wisconsin and endorsed by GOP leaders in the House, they equivocate.

According to a recent Rasmussen, 33% of the likely voters 65 and older support the plan, 27% oppose it, and 40% don't know whether or not to embrace it. This is similar to the results from younger likely voters who would, in fact, be impacted by the Ryan plan. … The uncertainty is a big negative for the GOP.

Among all likely voters, only 47% say there is a need to make major changes in Medicare and 36% don't think any changes are needed at all. A Hill source says that polls conducted exclusively for the GOP produced a more startling result: A majority of likely voters believes that the budget can be balanced merely by eliminating all foreign aid.

Older Voters Balk at Ryan's Medicare plan - Barrons.com

Well, maybe you do need Modbert for links? Foreign aid? Hardly.

Entire article, surely Modb can edit. nothing to do with topic.

SATURDAY, JUNE 4, 2011
The GOP's Intractable Dingbat Dilemma

By JIM MCTAGUE | MORE ARTICLES BY AUTHOR
Rep. Ryan's Medicare plan scares people over 65.


Republicans have a dingbat problem: They are at a complete loss as to how to best pitch a free-market version of Medicare to the party's most loyal demographic group—likely voters ages 65 and older. This is a large, politically-interested group that always turns out to vote. The GOP needs them to win.

Medicare reform is a key component of the House GOP's plan to reduce the nation's yawning budget deficit. In theory, the GOP case for cutting Medicare should be an easy sell to the elderly contingent. Many oldsters favor the elimination of taxpayer-financed, social-welfare programs. In practice, however, the pitch is about as difficult as selling bottles of white lightening at a convention of Southern Methodist theologians.

Seniors draw a bright red line when it comes to altering their own social-welfare programs like Social Security and Medicare. Although the GOP has repeatedly assured them that only people now under the age of 55 will be affected by proposed cuts to those programs, the dingbats—many of whom are frail, financially insecure, wise to the deviousness of politicians, and, consequently, easily frightened—don't buy a syllable of it.

Polls illustrate the conundrum faced by the Republicans. In survey after survey, the old folk largely embrace Republican rhetoric about reducing the size of the federal government and keeping taxation low. The elders especially despise what is commonly known as Obamacare, with 54% of likely voters in this age group favoring repeal in contrast to 51% of all likely voters, according to Rasmussen Reports. But when asked if they favor the Medicare reform plan by Republican Rep. Paul Ryan of Wisconsin and endorsed by GOP leaders in the House, they equivocate.

According to a recent Rasmussen, 33% of the likely voters 65 and older support the plan, 27% oppose it, and 40% don't know whether or not to embrace it. This is similar to the results from younger likely voters who would, in fact, be impacted by the Ryan plan. Among predingbats, ages 50-64, the Ryan plan is favored by 32% of likely voters and opposed by 30%, with 38% unsure. Among likely voters ages 40-49, the plan attracts 38%, repels 27% and engenders uncertainty among 35%. The uncertainty is a big negative for the GOP.

Among all likely voters, only 47% say there is a need to make major changes in Medicare and 36% don't think any changes are needed at all. A Hill source says that polls conducted exclusively for the GOP produced a more startling result: A majority of likely voters believes that the budget can be balanced merely by eliminating all foreign aid.

 

[Modbert]

I'm unsure what part of that article you want me to cut out Annie. So I just left the first four paragraphs.

 

[Oddball]

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

Goofy for sure.

Yet not nearly as batshit batty as the congressional Minority Leader coming out and saying that unemployment checks stimulate the economy.

Truly, there is enough batsht batty to go around.

The sad truth is she was the Majority Leader....

I stand corrected.

 

[Annie]

I'm unsure what part of that article you want me to cut out Annie. So I just left the first four paragraphs.

Wouldn't have mattered, none of it had to do with his portrayal of electorate.

 

[Quantum Windbag]

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?

You should have put in Obama's response to the fact that Americans obviously disagree with him.

[ame="http://www.youtube.com/watch?v=64yhiih53F4&feature=player_embedded"]‪Obama : 'Professional Politicians' Understand Debt Crisis Better Than 'The Public'‬‏ - YouTube[/ame]

By the way, I know you think those polls contradict each other, but they do not.

 

[Quantum Windbag]

What we need to do is simple.

1. Cut government spending.
2. Close tax loopholes to raise revenue.
3. Make a solid case to everyone about the need for entitlement reform of some type.
4. Make the government live within its means.

 

[Quantum Windbag]

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.

Why is it silly? Are you saying the only way the government can fund SS and Medicare is by spending more and more money until we all go broke? Even if we reformed both programs right now it would have no real affect on the deficit for years.

 

[Quantum Windbag]

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.

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.

The old fall back, people are idiots.

 

[sharia4USA]

the answer for the debt crisis isislamic banking

 

[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



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

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.

The old fall back, people are idiots.

When 25% of people polled in the US can't get the right year for the declaration of independence, well, Maybe not idiots, but they ar uninformed.

Some people are smarter than others, that is human nature. When you poll you are getting the smart, the dumb, and all those in between.

This isn't an insult, its just a cold hard fact. Most of the people in the survey probably have no idea how governmental level finance works, or any finance beyond thier own micro-economic household system.

 

[Quantum Windbag]

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.

The old fall back, people are idiots.

When 25% of people polled in the US can't get the right year for the declaration of independence, well, Maybe not idiots, but they ar uninformed.

Some people are smarter than others, that is human nature. When you poll you are getting the smart, the dumb, and all those in between.

This isn't an insult, its just a cold hard fact. Most of the people in the survey probably have no idea how governmental level finance works, or any finance beyond thier own micro-economic household system.

You believe people are incapable of learning about things beyond their narrow lives, I disagree. You think people are ignorant and stupid, I disagree.

CBS specifically talked about a complete financial meltdown in their poll because they wanted to make sure people actually understood the consequences of not raising the debt ceiling. They still preferred not raising it, and going into a depression, to raising it. You can call that stupid if you want, but I call it making a hard choice between dealing with this now or kicking it down the road again.

 

[Wiseacre]

Most Americans don't want to raise the debt ceiling because they have an instinctive aversion to going deeper into debt. There is basic value out there in middle America that you are supposed to live within your means, and even though many have not done so, there's a whole lot of people that believe that is wrong. The realization is there that their kids and grandkids are going to have to pay the bill, and are therefore against making that bill any larger than it is now. That's why the majority of Americans do not want to raise the debt ceiling.

 

[Toddsterpatriot]

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

All tax loop-holes? Like depreciation?
Why would a tax on short sales be helpful?
What is a short sale of a derivative?