Americans Want Clean Debt Ceiling Deal: Monmouth

Americans are backing the stance of President Joe Biden and Congressional Democrats when it comes to raising the debt ceiling in a clean manner. 

According to a Monmouth University Poll released May 24, 25% of respondents to the national poll think the debt ceiling should be tied to negotiations over spending on federal programs compared with 51% who say the two issues should be dealt with separately. 

Representatives for President Biden and Speaker of the House Kevin McCarthy have held negotiations over the past month and the two have met personally during that time in attempts to reach an accord. The President’s position is that the debt ceiling should be raised separate from any budget deal.

GOP Wants Debt Deal with Budget Cuts

But McCarty and GOP House members have sought to tie the two together. If the Republican controlled chamber does not raise the limit by the beginning of June, the U.S. government would be unable to pay its bills to retirees on Social Security, members of the military, and doctors who look after Medicare patients among other financial obligations.

The House Republican’s Limit, Save, Grow Act would lift the debt limit by $1.5 trillion or until the end of March 2024 in exchange for federal spending cuts of $4.5 trillion aimed at nixing Democrat priorities such as $70 billion in additional IRS funding, unspent pandemic relief funds and provisions of the Inflation Reduction Act while excluding Social Security, Medicare and the Defense budget from cuts.

Economic Pain

The Jersey Shore polling outfit found that 42% believe not reaching a deal to raise the debt limit would cause significant economic problems. But 30% responded that it was an exaggerated claim and nearly the same amount (28%) had no opinion. 

Overall, Democrats are more likely to say that expectations of economic problems from default are accurate at 58% rather than exaggerated at 15%, while Republicans are more likely to have a contrary opinion (47% exaggerated and 26% accurate).

Sixty five percent of Democrats say the debt ceiling should be handled on its own. Republicans are evenly divided between handling the debt limit separately (37%) and tying it to federal spending negotiations (37%).

Those Informed Are Worried 

“About half the public feels they have a handle on what the consequences of a federal default would mean, and most of them want a clean deal on the debt ceiling,” said Patrick Murray, director of the independent Monmouth University Polling Institute.

But just how much is the country paying attention to the current federal debt ceiling debate? Not much, according to Monmouth as it found 55% of the public have heard little or nothing at all about the issue compared with 45% who have. 

Fifty percent of American adults told Monmouth during the poll conducted between May 18-23 that they feel they have a lot of understanding about what raising, or not raising, the debt ceiling would mean for the U.S. economy. Among those who have heard a lot about the current debt limit debate, 56% say predictions of economic turmoil are accurate while 33% say they are exaggerated.

Approval Ratings

What is universal is the disapproval of how the debt ceiling issue is being held by elected officials. At 34% approval, President Biden has the highest rating; 55% currently disapprove of how he is handling the issue. Congressional Democrats approval/disapproval scores come in at 32%/55% with Republicans in Congress behind that at 29%/60%. 

The issue has not changed Biden’s overall job rating rating, still at 41% as it was last polled by Monmouth in March. Approval of the job Congress is doing has slipped to 18% from 23% two months ago.