Freedom Line Blog

According to a Reuters/Ipsos survey released today:

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…

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.

But other than curtailing foreign aid and tax collection, which is supported by 73 percent and 65 percent of respondents respectively, the public is split on exactly what federal spending to cut.  And on the issue of entitlements (Social Security and Medicare specifically), which are by far the greatest contributors to the nation’s mounting debt, a large majority of Americans are seemingly saying “hands off,” according to the survey.

The U.S. National Debt is fast approaching the nation’s $14.3 trillion statutory borrowing  limit set by Congress back in February.