|AP-CNBC Poll: Cut federal services to balance the budget|
|Allen Jezouit, @BerkshireCountyBusiness,|
06:55AM / Tuesday, November 30, 2010
According to a recent poll by the Associated Press and CNBC, Americans prefer cutting federal services to raising taxes by a 2-1 margin.
The poll "showed widespread anxiety about budget shortfalls exceeding $1 trillion a year." Hmmm. Go figure.
At the same time, the poll showed that "there is little consensus on specific, meaningful steps — and a wariness about touching two gargantuan programs, Social Security and Medicare."
The bottom line is this ... we can't keep borrowing a trillion dollars per year. At some point in time, the interest rates that people are going to demand to keep loaning us money are going to go up. We're becoming a bad credit risk. We
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