How do Americans feel about the debt and budget debate?

Wed, 07/06/2011 - 3:01pm | posted by Jason Pye

President Barack Obama rejected a short-term deal on raising the debt ceiling, noting that the administration and Republicans are still miles apart when it comes to a long-term solution.

The folks over at Bankrupting America recently put out this video compiling data from polls showing how Americans feel about raising the debt limit, highlighting that most believe the problem is spending, not a lack of tax revenue.

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Tagged: Bankrupting America Barack Obama budget deficit debt ceiling debt limit national debt Polling Republicans Spending tax revenue Taxes

ISSUE WITH GENERATION Y: Our spiraling National Debt will be bankrolled by their future, so where are their voices?

If we are about to break our national piggybank and default on debt obligations as it nears the $14.3 trillion ceiling, then I ask how high should we tolerate it to go? There have seemingly been no lasting repercussions as the debt has continued to grow larger and without our adult kids getting engaged, I fear nothing is likely to truly change. Why aren’t they leading the charge and challenging our representatives to lower spending floors rather than raising the debt ceiling and responsibly implementing a reduction plan to eventually balance our budget? Is now the time to close our generational divide for a collective “line in the sand”? There are too many baby boomers with other agendas confounding the problem; but their generation should be clamoring for the long-term implications of our nation’s economic decisions and inexcusable consequences likely to be in their not so distant future.

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I’m trying to side with the future of GEN Ys, not those with the identity of BLUE, RED, or TEA. Unfortunately, many like my 27-year old have their own personal debt issues (student loan, credit card, automobile, etc.) without a printing press to help resolve their employment/income problems. So if not now, then by the time they are suffering these debt showdown consequences in 15-25 years from now and want someone to blame, those who made it happen will be long gone having escaped the wrath from his silent partners today.