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Americans Overwhelmingly Disagree With Obama And Pelosi On Debt Ceiling

- September 26, 2013

Bloomberg Headline: “Americans Reject By 61% Obama Demand For A Clean Debt Vote” (Julie Hirschfeld Davis, “Americans Reject By 61% Obama Demand For A Clean Debt Vote,” Bloomberg, 9/26/13)

“Americans By A 2-To-1 Ratio Disagree With President Barack Obama’s Contention That Congress Should Raise The U.S. Debt Limit Without Conditions” Because Congress Lacks Spending Discipline. “Americans by a 2-to-1 ratio disagree with President Barack Obama’s contention that Congress should raise the U.S. debt limit without conditions. Instead, 61 percent say that it’s ‘right to require spending cuts when the debt ceiling is raised even if it risks default,’ because Congress lacks spending discipline, according to a Bloomberg National Poll conducted Sept. 20-23.” (Julie Hirschfeld Davis, “Americans Reject By 61% Obama Demand For A Clean Debt Vote,” Bloomberg, 9/26/13)

“The Poll Suggests The GOP May Have The Upper Hand When It Comes To Luring Obama Away From His Hard-Line Stance On The Debt Limit.” “It's not unusual for Americans to favor the broad idea of spending cuts, but the poll suggests the GOP may have the upper hand when it comes to luring Obama away from his hard-line stance on the debt limit.” (Aaron Blake, “Poll: Americans Disagree With Obama’s Call For ‘Clean’ Debt Limit Increase,” The Washington Post’s Post Politics, 9/26/13)

Pelosi And Obama Are Out Of Touch With The Majority Of Americans On The Debt Ceiling & Cuts

House Minority Leader Nancy Pelosi (D-CA) Said Obama Doesn’t Have To Negotiate More Cuts In Return For A Debt Ceiling Increase Simply Because There Are “No More Cuts To Make.” CNN’s CANDY CROWLEY: “But again I just have to point out, President Clinton, President Bush, President Reagan, and this President have all negotiated the debt ceiling and given up something for that. So why now?” REP. NANCY PELOSI (D-CA): “Because the cupboard is bare. There’s no more cuts to make.” (CNN's "State Of The Union," 9/22/13)

  • Pelosi Has Also Said That The U.S. We Doesn’t Have A Spending Problem. REP. NANCY PELOSI (D-CA): “We have to make a judgment about what -- how do we get growth with jobs, that is where the real revenue comes from. You don’t get it by…cutting your education and cutting back on investments in science and National Institutes of Health, food safety, you name it. So, it isn’t as much a spending problem as it is a priorities -- and that is what the budget is, setting priorities.” FOX’s CHRIS WALLACE: “But you talk about growth. Even Christina Romer, the former head of the Council of Economic Advisors for the president says, you increase taxes, that also hurts growth.” WALLACE: “Well, it is about timing. It is about timing. And it is about timing as to when you make cuts, as well.” WALLACE: “The fiscal cliff, you raised taxes $650 billion, right away.” PELOSI: “Yeah and that was a very good thing to do. On people making over -- the high end in our population. So, here’s the thing, though: we are here to have a budget that has revenue coming in, that has investments made, into the future. We also want to make decisions in those two areas where growth with jobs are created, because, more jobs, more revenue coming in. Nothing brings more money to the Treasury of the United States than investment in education of the American people. So you have to recognize that. Which cuts really help us and which cuts hurt our future. And cuts in education, scientific research and the rest are harmful and they are what are affected by the sequestration. So it is almost a false argument to say we have a spending problem, we have a budget deficit problem.” (FOX’s “Fox News Sunday,” 2/10/13)

According To The Wall Street Journal, Obama Told House Speaker John Boehner During The Fiscal Cliff Negotiations That “We Don’t Have A Spending Problem.” “What stunned House Speaker John Boehner more than anything else during his prolonged closed-door budget negotiations with Barack Obama was this revelation: ‘At one point several weeks ago,’ Mr. Boehner says, ‘the president said to me, ‘We don't have a spending problem.’” (Stephen Moore, “The Education Of John Boehner,” The Wall Street Journal, 2/6/13)

Obama And Pelosi’s Statements Are Also Out Of Touch With Reality

On The Current Fiscal Path, The U.S. National Debt Would Reach 100 Percent Of GDP By 2038, “More Than In Any Year Except 1945 And 1946.” “The gap between federal spending and revenues would widen steadily after 2015 under the assumptions of the extended baseline, CBO projects. By 2038, the deficit would be 6½ percent of GDP, larger than in any year between 1947 and 2008, and federal debt held by the public would reach 100 percent of GDP, more than in any year except 1945 and 1946. With such large deficits, federal debt would be growing faster than GDP, a path that would ultimately be unsustainable.” (“The 2013 Long-Term Budget Outlook,” Congressional Budget Office, 9/17/13)

  • “The Nonpartisan Congressional Budget Office (CBO) Warned Tuesday That The Long-Term Outlook For The National Debt Remains Dire, Despite A Near-Term Drop In The Deficit That Has Been Lauded By The Obama Administration.” “The nonpartisan Congressional Budget Office (CBO) warned Tuesday that the long-term outlook for the national debt remains dire, despite a near-term drop in the deficit that has been lauded by the Obama administration. Federal debt held by the public is slated to rise from 73 percent of the economy in 2013 to 100 percent of gross domestic product by 2038, the CBO said.” (Erik Wasson, “CBO Projects Dire Debt Level,” The Hill’s On The Money, 9/17/13)

“Because Federal Debt Is Already Unusually High Relative To GDP, Further Increases In Debt Could Be Especially Harmful.” “The structure of the federal tax code means that revenues would also represent a larger percentage of GDP in the future than they have, on average, in the past few decades—but not large enough to keep federal debt held by the public from growing faster than the economy starting in the next several years. Moreover, because federal debt is already unusually high relative to GDP, further increases in debt could be especially harmful.” (“The 2013 Long-Term Budget Outlook,” Congressional Budget Office, 9/17/13)

Unless Changes Are Made, “Additional Spending Would Contribute To Rising Budget Deficits Starting In A Few Years, Causing Federal Debt To Swell From A Level That Is Already Very High Relative To The Size Of The Economy.” “Barring changes to current law, that additional spending would contribute to rising budget deficits starting in a few years, causing federal debt to swell from a level that is already very high relative to the size of the economy.” (“The 2013 Long-Term Budget Outlook,” Congressional Budget Office, 9/17/13)

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