Half Of Americans Say Congress Should Raise Debt Limit Without Strings Attached

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Half of Americans say the U.S. debt ceiling should be raised without strings attached, while just 25% say it should be tied to negotiations over a package of spending cuts demanded by House Republicans, according to a new Monmouth University poll.

The survey also found that 42% of adults agree that the U.S. will suffer significant economic problems if the $31 trillion debt limit isn’t lifted and there is a default, while 30% say that’s an exaggerated claim and 28% said they have no opinion.

Negotiations between President Joe Biden and House Speaker Kevin McCarthy over raising the borrowing cap are at an impasse, driven primarily by a dispute about the level of spending cuts. Treasury Secretary Janet Yellen has warned that the U.S. could run out of funds to pay its bills as soon as June 1 if the debt ceiling isn’t increased, and financial markets are growing more skittish.

The Monmouth findings differ from those of a CNN poll released Tuesday in which 60% of Americans said Congress should raise the debt limit only in conjunction with spending cuts. That survey, conducted by SSRS, found that 84% of Americans favor raising the debt ceiling, with 24% saying lawmakers should do so no matter what.

The Monmouth poll found that the public has a negative view of how all sides are handling the issue. Just 34% approve of Biden’s handling of the matter, while 55% disapprove. Just 29% approve of the way GOP lawmakers are approaching it and 60% disapprove, while 32% of approve of how congressional Democrats are handling it and 55% disapprove.

Biden’s overall approval rating was just 41% in the survey, the same as Monmouth’s last poll in March.

The May 18-23 poll of 981 adults has a margin of error of plus-or-minus 5.6 percentage points.

(c) 2023, Bloomberg · Laura Litvan 


4 COMMENTS

  1. Janet Yellin has been wrong about every eco0onmic prediction since she took office. i.e. thei nflation is only temporary.
    Why give her any credence?

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