From The Hill:
Only 27 percent of likely voters favor raising the nation’s $14.3 trillion debt ceiling, while 62 percent oppose it, according to an exclusive poll for The Hill…
…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)…
This would put the GOP in a very strong but very dangerous position – strong in the sense that the public will back a fight over raising the debt ceiling, dangerous in that if the GOP is perceived as caving in on raising the debt ceiling it will harm the party’s chances in 2012. It is quite a tight rope we have to walk.
The best action, if at all possible, is to not raise the ceiling, at all. Tales of immediate default without a raise are just fear tactics – we can still service our interest payments, we just wouldn’t be able to borrow as much as the Ruling Class would like. Boo hoo. But intense pressure will be brought on the GOP to raise the ceiling, and there will be plenty of GOPers showing their Ruling Class allegiance by insisting “more debt or complete collapse”. Given this, we can expect that raising the debt ceiling will eventually happen – the key to both helping America and helping the GOP is how it is done.
First must come cuts – serious cuts. Cuts which aren’t just a reduction in the rate of growth but which actually result in government agencies spending less next year than they’ll spend this year. These cuts must be pressed and must be made broadly known to the electorate – especially the TEA Party part of it – prior to a vote on raising the debt ceiling. Doing it any other way risks complete disaster for the GOP.
We’ll see how the House GOP leadership carries this out – the ball is really in their court as they hold the power of the purse. So far, I like what I see (a fee odd RINOs aside). But this is now fat in the fire time – where we find out if we’ve got real leaders, or not.
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