Wednesday, July 20, 2011

Public opinion and the debt ceiling-Bad news for Republicans

Republicans have been playing down the risks associated with not raising the debt ceiling.  For a time, Americans were buying the argument.  They aren’t any more.  A new Washington Post/ABC polls shows Americans are getting worried about the consequences of not raising the debt ceiling and are blaming Republicans for being unwilling to compromise with Obama and the Democrats.

Americans say NOT RAISING the debt ceiling would be a disaster

82% of Americans now say NOT raising the debt ceiling would do SERIOUS HARM to the economy.
60% say it would do SERIOUS HARM to their own personal financial situation.

Americans blame the Republicans for the debt crisis

77% of Americans say the Republicans HAVE NOT BEEN WILLING ENOUGH to compromise with Obama on the deficit.

62% say the best way to reduce would be to use a COMBINATION OF CUTTING SPENDING AND INCREASING TAXES, something Republicans have resisted to the point of refusing to agree to any deal that involved raising taxes in any form, even by cutting loop holes.

Americans support raising taxes

In respect to RAISING TAXES, Americans overwhelming support Democratic proposals.

72% support raising taxes on Americans with incomes of $250,000 per year.
66% support increasing the amount of Social Security tax paid by people with incomes over $107,000 per year.
64% support raising taxes on people who manage financial investments known as hedge funds.
61% support raising the Medicare premiums for wealthier retirees.

Republicans seen as party of rich and powerful, little concerned about them and their family or the middle class in general

Finally, Americans believe Republicans are more interested in protecting the interests of Large business corporations (67%) and Wall Street financial institutions (59%) than middle class Americans and/or them and their family.

Republican control of the House may be endangered

Perhaps because they don’t think Republicans have their best interest at heart, 63% are planning to look around for a new Congressman in the next election.

Read the full results of the poll here:

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