Despite the negative outlook from S&P, anemic job and wage growth the last 11 years, Americans oppose any reforms to entitlements. This is madness and if we don’t seriously address these issues, we face an economic Armageddon.
Despite growing concerns about the country’s long-term fiscal problems and an intensifying debate in Washington about how to deal with them, Americans strongly oppose some of the major remedies under consideration, according to a new Washington Post-ABC News poll.
The survey finds that Americans prefer to keep Medicare just the way it is. Most also oppose cuts in Medicaid and the defense budget. More than half say they are against small, across-the-board tax increases combined with modest reductions in Medicare and Social Security benefits. Only President Obama’s call to raise tax rates on the wealthiest Americans enjoys solid support.
This is national economic suicide on the part of Americans. Many still think this is the 1950’s and we are on top of the world. They should read about Argentina and how that nation went from an economic powerhouse to a basket case.
Tags: Debt Crisis, Deficit Reduction
