We're in Deep Doo Doo Here

The results of a recent poll offer discouraging evidence that most Americans don’t have even a rudimentary understanding of the deficit and the economic issues we are facing.  The poll indicates that many Americans don’t understand that raising the debt ceiling simply allows the government to borrow money to pay for goods and services that have already been purchased, not to engage in new spending:

  

·      78% worry that raising the debt limit would “lead to higher government spending and make the national debt bigger

·      75% worry that not raising the debt limit would hurt the economy.  At the same time, 47% are worried that the debt limit will be raised.  Go figure!

Here are the actual results of the poll:

This poll was conducted for The Washington Post and the Pew Research Center by telephone July 7 to 10, 2011, among a random national sample of 1,007 adults, including users of both conventional and cellular phones. The results from the full survey have a margin of sampling error of plus or minus four percentage points. Sampling, data collection and tabulation by Princeton Survey Research Associates International (PSRAI) of Princeton, NJ.

*= less than 0.5 percent

1. How well do you feel you understand what would happen if the government DOES NOT raise the federal debt limit?  Very well, fairly well, not too well or not at all well?

                   ------- Well ------   -------- Not well --------

               Very   Fairly    Not too   Not at all   No opinion

7/10/11     18      37            27            14              4 

5/22/11     18      32            26             21             3

2. How concerned, if at all, are you that [INSERT]? Very concerned, somewhat concerned, not too concerned or not at all concerned?

a. Raising the debt limit would lead to higher government spending and make the national debt bigger

      --- Concerned ---   --- Not concerned -    No  

              Very   Smwt  Not too   Not at all   opinion

7/10/11     51     27          12          7             2

5/22/11     47     30         10         10                       2

b. Not raising the debt limit would force the government into default and hurt the nation’s economy 

     --- Concerned ---   -- Not concerned ---    No  

             Very   Smwt   Not too   Not at all   opinion

7/10/11    44     31         13             10          2

5/22/11    37     36         13              10          4

3. All things considered, which of these is your greater concern (that raising the debt limit would lead to higher government spending and make the national debt bigger) or (that not raising the debt limit would force the government into default and hurt the nation’s economy)?

          Raising debt limit   Not raising debt limit     No

          a greater concern      a greater concern      opinion

7/10/11           47                                 42               11

5/22/11           48                                 35               17