CBS News Poll: Most Americans oppose raising the debt ceiling

CBS News: Despite Obama administration warnings that failing to do so would devastate the economy, a clear majority of Americans say they oppose raising the debt limit, a new CBS News/New York Times poll shows.

Just 27 percent of Americans support raising the debt limit, while 63 percent oppose raising it.

Eighty-three percent of Republicans oppose raising the limit, along with 64 percent of independents and 48 percent of Democrats. Support for raising the debt limit is just 36 percent among Democrats, and only 14 percent among Republicans.

Seven in ten who oppose raising the debt limit stand by that position even if it means that interest rates will go up. [MORE]

If you think those numbers are pretty astounding, consider that Ed Morrissey at Hot Air finds that the polling data has been weighted towards the Democrat's favor!

With numbers like this, I cannot for the life of me understand why Republicans were so damn quick to capitulate on raising the debt limit. I have always contended that on November 4, 2010 John Boehner should have stated in no uncertain terms that Republicans would not vote to raise the debt limit and that Democrats should immediately get to work on finding programs to cut.

Instead, Boehner allowed Democrats to create a story of doom and gloom if the debt limit was not raised. From the looks of this poll, it seems like only the GOP leadership was scared by the Democrats' story.

Not raising the debt limit doesn't mean we automatically default on our obligations. America takes in $7 billion a day in revenue and can pay its debts with that. Politicians and unwilling to do this because it would mean that they would have to confront their bad spending habits now rather than later. This is because we would be forced to live within our means, prioritize our spending and make real cuts immediately. The ugly truth is that there simply isn't enough testicular fortitude in Washington today to undertake such adult action.

For some additional reading, check out Senator Pat Toomey's Op Ed at Real Clear Politics.  Toomey points out that should the US default on its debts, the blame must be laid at the feet of Turbo Tax Cheat Timmy Geithner.

Via: Memeorandum
Via: CBS News
Via: Hot Air

Via: Real Clear Politics

Marco Rubio: Why I won't raise the debt limit

Marco Rubio has an Op-Ed in the Wall Street Journal tomorrow where he details his reasoning for why he will vote against raising the debt ceiling.

Wall Street Journal: I will vote to defeat an increase in the debt limit unless it is the last one we ever authorize and is accompanied by a plan for fundamental tax reform, an overhaul of our regulatory structure, a cut to discretionary spending, a balanced-budget amendment, and reforms to save Social Security, Medicare and Medicaid.[...]

Some say we will go into default if we don't increase the debt limit. But if we simply raise it once again, without a real plan to bring spending under control and get our economy growing, America faces the very real danger of a catastrophic economic crisis.

I know that by writing this, I am inviting political attack. When I proposed reforms to Social Security during my campaign, my opponent spent millions on attack ads designed to frighten seniors. But demagoguery is the last refuge of the spineless politician willing to do anything to win the next election.
Whether they admit it or not, everyone in Washington knows how to solve these problems. What is missing is the political will to do it. I ran for the U.S. Senate because I want my children to inherit what I inherited: the greatest nation in human history. It's not too late. The 21st century can also be the American Century. Our people are ready. Now it's time for their leaders to join them. [MORE]

The arguments Rubio makes in his Op-Ed are the kinds of things the Republican leadership should have been saying loudly on November 4, 2010. Democrats have taken the lead in messaging with claiming that failure to raise the debt ceiling will lead to economic Armageddon.

Republicans were handed a mandate back in November, there is little reason to be coy about using it. Republicans should have set a firm goal of something like $500 billion in cuts for the 2012 budget then come up with only $250 billion worth of cut and then demand the Democrats come up with the rest. This would have been a far better strategy than letting Democrats sit back and demand Republicans detail where all the cuts are coming from.

Via: Memeorandum
Via: The Wall Street Journal

Poll: Voters oppose raising the debt ceiling

The Hill: Only 27 percent of likely voters favor raising the nation’s $14.3 trillion debt ceiling, while 62 percent oppose it, according to an exclusive poll for The Hill.

The poll found solid opposition from Republicans and also from independent voters, who are critical to President Obama’s re-election in 2012.

Only 27 percent of likely voters favor raising the nation’s $14.3 trillion debt ceiling, while 62 percent oppose it, according to an exclusive poll for The Hill.

The poll found solid opposition from Republicans and also from independent voters, who are critical to President Obama’s re-election in 2012.[MORE]

I think Republicans made a huge mistake by immediately announcing they would raise the debt ceiling if Obama and the Democrats signed on to budget cuts.  It was completely unnecessary to compromise so early.  I think it would have been smarter if Republicans had announced back in November that the ceiling would not be raised. They could have then put the pressure on Democrats to start looking for budget cuts.  This would have taken away the Democrat's ability to play the "quick, do something" game and would have proven to voters they were serious about cutting debt.  It also would have prevented Obama from coming up with his WTF investment strategy.

As things stand now, Democrats are pretty much controlling the language on the debt ceiling and pushing the idea that the only option is to raise it.  Time is running out to come up with a plan to make sizable cuts, so once again it looks like the ceiling will be raised.

Via: Memeorandum

Via: The Hill