Support for budget reforms along with a debt limit increase have come from the business leaders and economists. Surveys of public opinion on possible reforms have been sparse, giving Congress a loophole for avoiding serious talks.
Respected polling firm “On Message, Inc” released a survey on behalf of Let Freedom Ring earlier this week highlighting the public’s support for each of the three aspects of the “Cut, Cap, and Balance” plan.
The first part of this comprehensive deficit elimination plan is to enact immediate and substantial cuts to our deficit. Sixty-nine percent of respondents said they favor cutting next year’s $1.2 trillion in half. There is a growing consensus that our federal deficit is unsustainable. In 2008, just three short years ago, our annual deficit was 40 percent of our nation’s annual economic input. Today that figure has grown nearly two-fold to 70 percent.
The public also strongly the second part of the Cut, Cap, and Balance plan – durable and enforceable statutory spending caps. According to the On Message poll, 66 percent of Americans favor capping federal spending at 18 percent of GDP. Over the past 40 years federal revenues have fluctuated between 15 percent and 21 percent of GDP, averaging approximately 18 percent. A statutory cap at this level would ensure that Washington’s spending habits are placed on a glide path toward sustainability.
Of the three prongs needed to avert a debt crisis, the poll shows that voters are most supportive of a strong Balanced Budget Amendment to our Constitution. An incredible 81 percent of voters, including 74 percent of Democrats, favor the idea that the government should balance its budget every year.
The support should not come as a surprise to anyone. Households are forced to balance their budgets every day. When faced with limited resources, as almost every family is, Americans save during the good economic times, prioritize purchases to ensure they don’t spend more than they earn, and when things fall out of balance they make decisions on where they can cut back. The government should be no different.
Together these poll results show that there are no more excuses for failing to enact a Cut, Cap, and Balance strategy to permanently solve our debt dilemma. More than thirty conservative groups, including the National Taxpayers Union, have banded together to ensure that Washington’s spending binge comes to an end. Yes, we realize that these solutions are audacious, but the enormity of our fiscal problems demands them.
The people are firmly behind Cut, Cap and Balance. It’s time for Washington to join them.