Citizens Against Raising Debt Ceiling

An interesting poll is out showing that a majority of citizens are against raising the national debt ceiling for the federal government. This is good news in that people are realizing we have a major problem and bad news in that the government seems to be ignoring the people.

Technically, the federal government cannot just borrow and borrow. No, there is a debt ceiling set that represents the maximum amount that can be borrowed in total. The current cap is $14.29 trillion dollars.

Unfortunately, the party that controls what that cap is happens to be the same party doing the spending – Congress. As I write this, our current debt is over $14.26 trillion dollars and rising quickly. We should hit the debt ceiling by April or May. At that point, we can’t borrow anymore unless the ceiling is raised. Despite some grandstanding, there is little doubt that Congress will raise the limit.

Is this a good thing? Not really and people seem to realize as much. A recent poll by The Hill found 77 percent of voters were against the increase in debt while 27 percent supported it. As you can imagine, more Republicans were against it than Democrats given the current political structure in D.C.

Evolution

The poll numbers are important because they represent a step towards a pivotal point in our history. People are starting to realize we have a major fiscal problem. Now they have to come around to the idea that it needs to be dealt with and the only way to do so is to make some very hard decisions. These include slashing spending and raising taxes, a double political no-no.

It will be a difficult step, but one that has to happen.

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