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US Oppose Raising Debt Ceiling By 2 To 1

From Gallup:

(Click to enlarge)

Americans Oppose Raising Debt Ceiling, 47% to 19%

Thirty-four percent don’t know enough about the issue to say

by Dennis Jacobe, Chief Economist
May 13, 2011

PRINCETON, NJ — By a 47% to 19% margin, Americans say they would want their member of Congress to vote against raising the U.S. debt ceiling, while 34% don’t know enough to say. Republicans oppose raising the debt ceiling by 70% to 8% and independents by 46% to 15%. Democrats favor raising the ceiling by 33% to 26%

A majority of Americans (57%) say they are closely following the news about "discussions to raise the U.S. debt ceiling, the maximum amount of money the U.S. government can borrow by law." Republicans are following the issue more closely than are Democrats and independents; upper-income Americans are following it more closely than lower-income Americans; and those with a postgraduate education more so than those with a high school education or less…

What a shock. We thought news about the budget was supposed to be deadly boring.

Maybe the American public is finally starting to realize just how dangerous runaway spending is to our future, and that of our kids and grandkids.

This article was posted by Steve on Friday, May 13th, 2011. Comments are currently closed.

4 Responses to “US Oppose Raising Debt Ceiling By 2 To 1”

  1. proreason says:

    The AP is going to have to whip out that poll system of theirs. The one that guarantees marxist-approved results.

  2. Petronius says:

    It looks like the regime is running out of deficit wiggle room. But it only needs to hold on until the next election.

    Treasury Secretary and tax-cheat Tim Geithner recently called on Congress to raise the debt ceiling by $2 trillion. The story was underreported by the MBM, in contrast to the hissy-fit the MBM threw over the Republican efforts to cut a paltry $38 billion from the old budget … and, after all was said and done, it turned out to be only $352 million cut.

    Since $2 trillion is almost 6,000 times more than $352 million, you’d think the MBM might have noticed. But the press was not disposed to quibble.

    The Federal debt is $14.37 trillion and US GDP is $14.7 trillion. Thus the Federal debt is almost 98% of US GDP. At this point — think of it as a point of no return — it is doubtful that the economy can grow fast enough to offset the accumulation of interest on the public debt. In other words, with each passing day we sink deeper and deeper into debt in a vicious downward spiral.

    Raise the debt another $2 trillion, as Geithner proposed, and the debt to GDP ratio will be 112%. At that point the wheels will come off America.

    Of course the most likely scenario is that the Fed will monetize debt by printing more paper money.

    QE2 expires on 30 June. Look for QE3 to follow shortly.

    • proreason says:

      I hear you but the exact point of no-return is impossible to know. We may have already passed it or it could still be years away.

      What is beyond dispute is that the marxists are pushing to get us so far past the point of no return that collapse becomes imminent, not in terms of years, but in terms of days.

      Don’t doubt that they have their plans in place to exploit the crisis.

      It’s what they do.

    • Right of the People says:

      It’s sad but this is exactly what the Marxists in power want, the US to become a third world country. I’m not sure whatever happened to Barry the Bungler to make him hate this country so much but it must have been a whopper. Or, it could have just been the brainwashing.

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