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Tuesday, February 08, 2011

Majority Opposes Raising Debt Ceiling

The Hill publishes the results of a February 1, 2011 poll which shows that the majority of likely voters,62 percent, oppose raising the $14.3 trillion debt ceiling with just 27 percent favoring it.

Seventy-seven percent of likely GOP voters and 64 percent of independent voters said they don’t want the debt ceiling to be raised. Even among Democrats, more oppose raising the ceiling (46 percent) than support it (42 percent).

Other findings:

Plurality of votes, 48 percent, believe Obama’s 2009 economic stimulus package failed to create jobs with only 36 percent believing it did create jobs. This includes 61 percent of Independent voters saying it did not. The majority also think the stimulus package either had no impact on the economy itself with many believing it hurt the economy.

Only 40 percent of likely voters say the $787 billion stimulus package helped. While 69 percent of Democrats say it boosted growth, 56 percent of independents think the stimulus hurt or had no impact on the economy.

The president’s budget, due Feb. 14, will call for more spending on infrastructure, research and development and education. The polls suggest the public is unreceptive to the idea, so Obama might find it tough to get these budget requests through a Republican House clamoring for deep cuts.

Voters split on Obama’s economic policies. Forty-four percent in the survey said the policies are hurting the economy, while 41 percent said they are helping. The poll’s margin of error is 3 percent.

By a 47-37 percent margin, independents said Obama has hindered the economic recovery.

Republicans and Independents are more likely to be critical of Obama's economic policies than Democrats.

In the coming weeks spending will become a huge issue with Obama wanting to "invest" aka spend more and Republicans insisting on cutting spending to get the national debt and our government's habit of spending more money than they have, under control.

Right now it seems the majority of the public is behind the Republicans but are working with the adage "trust but verify", so any proposal to cut spending will be getting intense scrutiny.

By March the public should have a chance to see how far Republicans are willing to go in the upcoming battle against spending with Obama.

Side note- Blue Dog Democrats in the House, who claim Nancy Pelosi is ignoring that segment of the Democratic Party, are mulling over joining House Republicans in a plan to cut $32 billion in discretionary spending this year.