As Congress considers ways to avoid defaulting on the nation’s debt, the latest Fox News survey finds most voters see the national debt situation as a major problem, if not a crisis.  And while majorities also see the funding of Social Security as a problem or crisis, they would rather continue funding entitlement programs than reduce the federal budget deficit.

 

While a large majority call the debt situation a major problem (50%), if not a crisis (28%) – fewer feel that way than did a decade ago. 

 

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https://www.foxnews.com/official-polls/fox-news-poll-71-choose-funding-social-security-medicare-over-budget-cuts

 

It's funny. The subhead of this articles says that most Americans say Don't Raise My Taxes. What it didn't note is that most Americans support raising taxes on those earning over $400,000 per year and on businesses. Even a majority of Republicans support increasing income taxes on the rich.

This obviously has major implications for the 2024 elections.

The population is in denial.

8 minutes ago, nigelforbes said:

The population is in denial.

Nonsense. Taxes could easily be raised to guarantee the solvency of Social Security and Medicare. It would be very politically popular.

And the debt itself doesn't have to be paid down. It should be stopped from going up. But if we returned to the tax system that existed before George W. Bush blew things up, that wouldn't be a problem.

5 minutes ago, placeholder said:

Nonsense. Taxes could easily be raised to guarantee the solvency of Social Security and Medicare. It would be very politically popular.

Bait all you want, you're staying on ignore until at least 1 June. Just so you know and don't waste your time.

1 minute ago, nigelforbes said:

Bait all you want, you're staying on ignore until at least 1 June. Just so you know and don't waste your time.

I think you're confused about how a forum works. It's not about communications between 2 parties. For that, there's Private Messaging. I'm not going to leave your posts unrebutted just because you won't see my refutations.

Troll post removed

43 minutes ago, nigelforbes said:

The population is in denial.

I agree.

 

The sooner they vote in their own interests and not in the interests of a tiny hyper wealthy minority the better.

"Moreover, the poll finds 71% think it is more important to fund the entitlement programs at their current levels than reduce the deficit (26%)".

 

Deluded.

2 minutes ago, Chomper Higgot said:

I agree.

 

The sooner they vote in their own interests and not in the interests of a tiny hyper wealthy minority the better.

What's significant is despite the overwhelming public support for raising tax on the wealthy in a big way, the issue gets no traction. Clearly the proposal to rescue social security by imposing SS taxes on higher income individuals should be very popular. Yet politicians aren't yet lining up to support it. Clearly, the power of the wealthy to stifle reforms that lessen their net income is still very strong.

20 minutes ago, nigelforbes said:

"Moreover, the poll finds 71% think it is more important to fund the entitlement programs at their current levels than reduce the deficit (26%)".

 

Deluded.

A clear majority is deluded?

22 minutes ago, Chomper Higgot said:

A clear majority is deluded?

When asked if they would prefer to pay off their bank overdraft or go to the pub for a pint on their credit card, a clear majority voted in favor of the pub. The priorities are all wrong, for me at least. 

 

Many countries have this problem because of an aging population. The UK chose to increase the retirement age, France has done the same, the US needs to do similar, at least, they can't maintain the status quo.

Time is clicking and Speaker McCarthy in a bind. He won a slim victory for speakership agreeing on spending cuts and no raising of debt ceiling with the Freedom Caucus. He also make a personal vow to balance the budget in 5 years. He is floundering to come up with any detail plan on the debt ceiling and Biden not having any more discussion until they have a detail plan. He may move the bill on its own in the House but that will mean that he take all the responsibilities should the economy crash. The Guardian puts it down nicely "Kevin McCarthy's debt ceiling standoff is yet more REpublican madness". A party of destruction (my words). 

24 minutes ago, nigelforbes said:

When asked if they would prefer to pay off their bank overdraft or go to the pub for a pint on their credit card, a clear majority voted in favor of the pub. The priorities are all wrong, for me at least. 

 

Many countries have this problem because of an aging population. The UK chose to increase the retirement age, France has done the same, the US needs to do similar, at least, they can't maintain the status quo.

A standard deflection. Any economist will confirm that national debt IS NOT comparable, equivalent or even vaguely related to, household debt. Can you print your own money?

41 minutes ago, nigelforbes said:

When asked if they would prefer to pay off their bank overdraft or go to the pub for a pint on their credit card, a clear majority voted in favor of the pub. The priorities are all wrong, for me at least. 

 

Many countries have this problem because of an aging population. The UK chose to increase the retirement age, France has done the same, the US needs to do similar, at least, they can't maintain the status quo.

Because the economy of a nation the size of the US equates to the imagined profligacy of imagined individuals.

 

How about examining the distribution of wealth?

 

 

13 minutes ago, mikebike said:

A standard deflection. Any economist will confirm that national debt IS NOT comparable, equivalent or even vaguely related to, household debt. Can you print your own money?

It was a lose analogy, not an attempt to deflect or compare public to consumer debt etc. A basic rule is that you pay your debts before you pay yourself, at least you do unless you can maintain and service your debt within a sensible range. 

1 hour ago, nigelforbes said:

"Moreover, the poll finds 71% think it is more important to fund the entitlement programs at their current levels than reduce the deficit (26%)".

 

Deluded.

In my country universal health is mostly funded by direct income tax deduction at a rate.

4 minutes ago, Chomper Higgot said:

Because the economy of a nation the size of the US equates to the profligacy of the images behavior of imagined individuals.

 

How about examining the distribution of wealth?

I'm 100% in favor of doing that and of increase the contribution by the wealthy, what I described previously doesn't preclude other things, such as that.

2 hours ago, onthedarkside said:

And while majorities also see the funding of Social Security as a problem or crisis, they would rather continue funding entitlement programs than reduce the federal budget deficit.

Typical...It is like the none option they give us every four years. You want to vote for this or that? Which is worse? Never really a smart choice like none of the above allowed

 

Now with this cut SS & Medicare vs raise the budget?

How about we take some off the insane military budget?

How about we stop giving billions to places like Israel year after year?

The list is long but we never consider or are allowed "Those" options

Just threaten to cut what we have already paid for or raise the budget again

 

I pity the future children as we are definitely not leaving them a country/world as nice as the one we inherited & trashed

Just now, ozimoron said:

In my country universal health is mostly funded by direct income tax deduction at a rate.

If only everywhere was the same.

Taxing higher incomes is a start. But you need to go where the rich hide their money. Tax stock holdings. Tax tangible items such as art based on their insurance premiums. Tax stock buybacks. Increase the inheritance tax. Slap on special billionaire property tax surcharges. 

1 minute ago, nigelforbes said:

I'm 100% in favor of doing that and of increase the contribution by the wealthy, what I described previously doesn't preclude other things, such as that.

Then let’s start with examining wealth distribution, the majority are in favor.

Just now, nigelforbes said:

If only everywhere was the same.

In the US they call that funding "single payer". It's what Obama tried to do with Obamacare but the republicans wouldn't have it. Something something communism I believe.

1 minute ago, John Drake said:

Taxing higher incomes is a start. But you need to go where the rich hide their money. Tax stock holdings. Tax tangible items such as art based on their insurance premiums. Tax stock buybacks. Increase the inheritance tax. Slap on special billionaire property tax surcharges. 

Forcing companies to pay a turnover tax would be a good start to simplifying the tax system and ensuring that highly profitable companies actually pay tax.

50 minutes ago, nigelforbes said:

Many countries have this problem because of an aging population. The UK chose to increase the retirement age, France has done the same, the US needs to do similar, at least, they can't maintain the status quo.

The US increased the retirement age to 67 in 1983.

4 minutes ago, John Drake said:

The US increased the retirement age to 67 in 1983.

So, 40 years ago then!

The socialists in America will keep increasing and passing down the huge US debt to the next generation, let them worry about it. It's all about me.

4 minutes ago, Keep Right said:

The socialists in America will keep increasing and passing down the huge US debt to the next generation, let them worry about it. It's all about me.

The debt made worse by tax give always to the already hyper wealthy.

 

 

 

Just keep spending and pass the debt onto future generations and let them deal with it .

   

1 hour ago, nigelforbes said:

When asked if they would prefer to pay off their bank overdraft or go to the pub for a pint on their credit card, a clear majority voted in favor of the pub. The priorities are all wrong, for me at least. 

 

Many countries have this problem because of an aging population. The UK chose to increase the retirement age, France has done the same, the US needs to do similar, at least, they can't maintain the status quo.

It's true that just because a majority don't agree, that doesn't make it so. But they might be forgiven for skepticism about the debt given that the same people who slashed taxes with the false claim that the cuts would pay for themselves, are now demanding punishing cuts. 

As has been pointed out, as far as social security is concerned, taxing wealthier individuals could solve the problem. The Sanders-Warren proposal to reimpose SS tax on incomes over $250,000 would not only extend the life of Social Security for 100 years but also allow for a genuine increase in benefits to the elderly. But those on the right simply ignore this option even though increasing the SS tax on wealthy people is overwhelmingly popular.