politics, hypocrisy and meanness in public affairs, alligators, anti-empire-ism, occasional personal stuff

Wednesday, January 12, 2011

Wasn't there something about an informed, educated electorate?

PUBLIC OVERWHELMINGLY OPPOSES RAISING DEBT CEILING - We try so hard to give the American People the benefit of the doubt, but they keep making it harder: Two in three Americans now favor defaulting on the U.S. debt and sending the global economy into a tailspin, throwing millions out of work. Reuters: "The U.S. public overwhelmingly opposes raising the country's debt limit even though failure to do so could hurt America's international standing and push up borrowing costs, according to a Reuters/Ipsos poll released on Wednesday. Some 71 percent of those surveyed oppose increasing the borrowing authority, the focus of a brewing political battle over federal spending. Only 18 percent support an increase... Treasury Secretary Timothy Geithner last week warned that a failure to raise the borrowing limit in the coming months could lead to 'catastrophic economic consequences.'" Survey respondents had much less appetite, though, for cutting spending. Their budgets suggestions? "Some 73 percent support scaling back foreign aid and 65 percent support cutting back on tax collection -- two very small lines in the massive federal budget ledger." Yes, cutting back on tax collections will do wonders for the deficit. [Reuters] {HuffPo]


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