With U.S. Interest Costs Skyrocketing, Voters Overwhelmingly Call for Fiscal Commission
As a new House Speaker takes the helm and Congress faces another looming government shutdown deadline, U.S. voters are focused on big-picture fiscal challenges, including the growing burden of interest costs.
New polling by Democratic firm Global Strategy Group and Republican firm North Star Opinion Research shows that voters are deeply concerned about interest costs eating up more and more of the federal budget. Moreover, there is overwhelming bipartisan support for the creation of a dedicated commission to recommend fiscal solutions.
On Capitol Hill, as Congress has drifted from one fiscal crisis to the next, there is growing momentum for a dedicated process to tackle our debt with lawmakers on both sides of the aisle expressing support. Late last month, a bipartisan group of leaders introduced legislation to establish a commission to recommend a comprehensive package of spending and revenue reforms to stabilize our fiscal outlook.
Further Reading
House Reconciliation Bill Would Add Trillions to the National Debt
The bill would increase debt by $3.0 trillion over the next 10 years, driving it from nearly 100 percent of GDP now to 124 percent of GDP by 2034.
House Reconciliation Bill Would Increase the National Debt by More Than Any Other Recent Legislation
The House recently passed the largest reconciliation bill ever. CBO estimates it would add $2.4 trillion (excluding interest) to the national debt over 10 years.
United States Is Borrowing at a Higher Rate than the Global Average, Warns IMF
New IMF reports serve as a warning to all countries that global fiscal and economic conditions are veering into dangerous territory.