According to a Reuters poll that was released Wednesday, the United States public is completely against raising the country?s debt.
If the government continues to spend at its current rates, then the United States may reach its legal limit on bowing by March 31st. This may cause a crisis, unless Congress raises the debt limit.
The U.S. debt nears $14.3 trillion. Experts suggest that failure to increase debt will hurt America?s international standing and push up borrowing costs. Meanwhile, the public is completely against an increase in borrowing.
The Republicans who recently won control of the House of Representatives have vowed to take $60 billion from the budget as soon as March. The problem lies with what the Republicans plan to cut.
Many Americans are willing to cut spending in several areas, including the defense budget and foreign aid, while also being worried that the government will cut spending on education and law enforcement.
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