CNN Poll: 74% favor balanced budget amendment

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CNN Poll: 74% favor balanced budget amendment

Postby BDKJMU » Thu Jul 28, 2011 10:38 pm

"25. Would you favor or oppose a constitutional amendment to require a balanced federal budget?
July 18-20 2011
Favor 74%
Oppose 24%
No opinion 1%"

And 66% favor Cut, Cap, and Balance:

"23. In another proposal, Congress would raise the debt ceiling only if a balanced budget amendment
were passed by both houses of Congress and substantial spending cuts and caps on future spending
were approved. Would you favor or oppose this proposal?
July 18-20 2011
Favor 66%
Oppose 33%
No opinion 1%"
http://i2.cdn.turner.com/cnn/2011/image ... rel11b.pdf

But CNN buried it:
http://hotair.com/archives/2011/07/21/o ... -cnn-poll/

Congress better wake the f up and start listening to the overwhelming majority....
http://www.usdebtclock.org/
"The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP."
http://finance.yahoo.com/news/why-16-tr ... 00503.html
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Re: CNN Poll: 74% favor balanced budget amendment

Postby SDHornet » Thu Jul 28, 2011 10:44 pm

As much as I agree with the concept of such an amendment, will a political campaign really hinge on this concept?
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Re: CNN Poll: 74% favor balanced budget amendment

Postby CID1990 » Fri Jul 29, 2011 2:30 am

SDHornet wrote:As much as I agree with the concept of such an amendment, will a political campaign really hinge on this concept?


I don't see it as the cornerstone of someone's platform, but I can see it being an issue.
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Re: CNN Poll: 74% favor balanced budget amendment

Postby kalm » Fri Jul 29, 2011 5:25 am

BDKJMU wrote:
Congress better wake the f up and start listening to the overwhelming majority....


What? You mean approximately the same majority that doesn't favor cuts to SS and Medicare? Or the majority that favors tax increases for the rich?
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Re: CNN Poll: 74% favor balanced budget amendment

Postby bulldog10jw » Fri Jul 29, 2011 5:36 am

kalm wrote:
What? You mean approximately the same majority that doesn't favor cuts to SS and Medicare? Or the majority that favors tax increases for the rich?


No the majority that was and still is against Obamacare. Wait, that didn't matter, did it?
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Re: CNN Poll: 74% favor balanced budget amendment

Postby BDKJMU » Fri Jul 29, 2011 5:43 am

SDHornet wrote:As much as I agree with the concept of such an amendment, will a political campaign really hinge on this concept?

I believe most if not all tea partiers campaigned on it, and they're sticking to their guns. Kudos to them for sticking to their guns as opposed to politicians who campaign saying one thing, then when they get into office do another.
http://www.usdebtclock.org/
"The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP."
http://finance.yahoo.com/news/why-16-tr ... 00503.html
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Re: CNN Poll: 74% favor balanced budget amendment

Postby BDKJMU » Fri Jul 29, 2011 5:57 am

kalm wrote:
BDKJMU wrote:
Congress better wake the f up and start listening to the overwhelming majority....


What? You mean approximately the same majority that doesn't favor cuts to SS and Medicare? Or the majority that favors tax increases for the rich?

What poll shows as high as 74% favor tax increases on the so called "rich". I'd go along with tax increases (a la Bush cuts expiring) for the so called rich AFTER a balanced budget amendment was ratified. That way you would ensure to have the massive spending cuts along with the tax increases for the so called rich, along with probably tax increases for everyone else, in order to be able to ensure a balanced budget.
Otherwise you would just have the tax increases and the promised spending cuts that never materialized and the debt would continue to explode.
http://www.usdebtclock.org/
"The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP."
http://finance.yahoo.com/news/why-16-tr ... 00503.html
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Re: CNN Poll: 74% favor balanced budget amendment

Postby dbackjon » Fri Jul 29, 2011 6:47 am

People are in favor of it, as long as the areas affecting them are NOT cut
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Re: CNN Poll: 74% favor balanced budget amendment

Postby bluehenbillk » Fri Jul 29, 2011 6:49 am

Saw Rand Paul on Hannity last night - guy was super impressive & educational - best ideas of heard since the debt crisis has come up.

He said all the hundreds of billions we hear in spending cuts actually means the federal government will spend MORE money next fiscal year than it did this fiscal year, because fed spending goes up 7-8% each year. First time I ever heard anybody clearly spell that out.

His idea was to eliminate the 7-8% increase & then spend 1% less than we did this past fiscal year & pledge to balance the budget.

I still think there are not enough revenues coming in & the tax code needs to be overhauled or taxes need to go up but no one has the balls to actualy say that in DC. You can't "spend less" your way to success.

If the option was, we're going to increase your taxes, but you'll get job stability & a solid return on your investments between now & the time you retire, who wouldn't go for that? People today are scared about:

1) losing their jobs
2) how they're going to pay for their kids to goto college
3) how they're going to be able to retire if they can't contribute enough to their 401k's & what kind of sustained return are they going to get on those investments?
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Re: CNN Poll: 74% favor balanced budget amendment

Postby ∞∞∞ » Fri Jul 29, 2011 6:56 am

Ok, I've only taken a few intro economic classes, but my understanding is that a balanced budget isn't always a good idea. Don't governments, just like businesses, need to borrow money to invest into things that over time will bring in more revenue? Doesn't having a debt (at least not one that's as big as it is now) show that other countries have faith in us to return the money plus some, and that we're investing the money into something that will generate further growth for the United States?

Wouldn't having a Constitutional amendment to balance the budget mean that we'll solely have to rely on what we produce to keep growing? While it doesn't completely stop growth, it does slow it down quite a bit. Having some debt is good, having a lot isn't.

Also, on a side note, the majority opinion isn't always right. I can't keep stressing that enough.
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Re: CNN Poll: 74% favor balanced budget amendment

Postby danefan » Fri Jul 29, 2011 7:32 am

∞∞∞ wrote:Ok, I've only taken a few intro economic classes, but my understanding is that a balanced budget isn't always a good idea. Don't governments, just like businesses, need to borrow money to invest into things that over time will bring in more revenue? Doesn't having a debt (at least not one that's as big as it is now) show that other countries have faith in us to return the money plus some, and that we're investing the money into something that will generate further growth for the United States?

Wouldn't having a Constitutional amendment to balance the budget mean that we'll solely have to rely on what we produce to keep growing? While it doesn't completely stop growth, it does slow it down quite a bit. Having some debt is good, having a lot isn't.

Also, on a side note, the majority opinion isn't always right. I can't keep stressing that enough.


Agreed to an extent. The kicker for though is in a business setting you would never leverage up without a clearly defined end goal and a cash flow projection showing when you'd be able to pay down if you didn't want to roll it into something else. Our governments (state, local and fed) do not do anything close to that. We essentially take recurring bridge loans to bridge to nothing. Eventually the bridge collapses if you don't stop the growth of spending.

A balanced budget amendment isn't the way to correct this though, partly because no one will ever agree when it is balanced. The CBO estimates on cost and revenue are nothing more than projections. Either side can poke holes in them to suit their purposes.
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Re: CNN Poll: 74% favor balanced budget amendment

Postby HI54UNI » Fri Jul 29, 2011 8:05 am

bluehenbillk wrote:Saw Rand Paul on Hannity last night - guy was super impressive & educational - best ideas of heard since the debt crisis has come up.

He said all the hundreds of billions we hear in spending cuts actually means the federal government will spend MORE money next fiscal year than it did this fiscal year, because fed spending goes up 7-8% each year. First time I ever heard anybody clearly spell that out.

His idea was to eliminate the 7-8% increase & then spend 1% less than we did this past fiscal year & pledge to balance the budget.

I still think there are not enough revenues coming in & the tax code needs to be overhauled or taxes need to go up but no one has the balls to actualy say that in DC. You can't "spend less" your way to success.

If the option was, we're going to increase your taxes, but you'll get job stability & a solid return on your investments between now & the time you retire, who wouldn't go for that? People today are scared about:

1) losing their jobs
2) how they're going to pay for their kids to goto college
3) how they're going to be able to retire if they can't contribute enough to their 401k's & what kind of sustained return are they going to get on those investments?


Heard some similar stuff on the radio yesterday. Said that if spending was frozen at 2008 levels the CBO would score it as a $9+ trillion cut.

Boehner's deal back in April to "cut" the budget $900 billion or whatever it was that turned out to be a $6 billion cut or something, I don't remember the exact numbers, is all the proof I need that the guy is a **** joke. Time to clean house. Anybody that has been in there for more than 4 years needs to go!
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Re: CNN Poll: 74% favor balanced budget amendment

Postby kalm » Fri Jul 29, 2011 8:11 am

bluehenbillk wrote:Saw Rand Paul on Hannity last night - guy was super impressive & educational - best ideas of heard since the debt crisis has come up.

He said all the hundreds of billions we hear in spending cuts actually means the federal government will spend MORE money next fiscal year than it did this fiscal year, because fed spending goes up 7-8% each year. First time I ever heard anybody clearly spell that out.

His idea was to eliminate the 7-8% increase & then spend 1% less than we did this past fiscal year & pledge to balance the budget.

I still think there are not enough revenues coming in & the tax code needs to be overhauled or taxes need to go up but no one has the balls to actualy say that in DC. You can't "spend less" your way to success.

If the option was, we're going to increase your taxes, but you'll get job stability & a solid return on your investments between now & the time you retire, who wouldn't go for that? People today are scared about

1) losing their jobs
2) how they're going to pay for their kids to goto college
3) how they're going to be able to retire if they can't contribute enough to their 401k's & what kind of sustained return are they going to get on those investments?


Great post. :nod:
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Re: CNN Poll: 74% favor balanced budget amendment

Postby AZGrizFan » Fri Jul 29, 2011 8:54 am

Boehner has completely lost the house.

And 74% favor a balanced budget amendement, so clearly the democrats won't vote for one. They have a nasty habit under Pelosi/Reid of believing THEY know what's good for America, even when the vast majority of Americans disagree with them (see healthcare, stimulus packages, etc., etc., etc.).
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Re: CNN Poll: 74% favor balanced budget amendment

Postby dbackjon » Fri Jul 29, 2011 9:53 am

AZGrizFan wrote:Boehner has completely lost the house.

And 74% favor a balanced budget amendement, so clearly the democrats won't vote for one. They have a nasty habit under Pelosi/Reid of believing THEY know what's good for America, even when the vast majority of Americans disagree with them (see healthcare, stimulus packages, etc., etc., etc.).


Do 74% understand what a Balance Budget Amendment would entail? Are they willing to cut Medicare/Defense/Home Mortgage Deductions?


It is great in theory, but no one wants to make the sacrifices needed.
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Re: CNN Poll: 74% favor balanced budget amendment

Postby AZGrizFan » Fri Jul 29, 2011 9:55 am

dbackjon wrote:
AZGrizFan wrote:Boehner has completely lost the house.

And 74% favor a balanced budget amendement, so clearly the democrats won't vote for one. They have a nasty habit under Pelosi/Reid of believing THEY know what's good for America, even when the vast majority of Americans disagree with them (see healthcare, stimulus packages, etc., etc., etc.).


Do 74% understand what a Balance Budget Amendment would entail? Are they willing to cut Medicare/Defense/Home Mortgage Deductions?


It is great in theory, but no one wants to make the sacrifices needed.


Jon, I'm convinced CONGRESS doesn't understand it. :coffee:
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Re: CNN Poll: 74% favor balanced budget amendment

Postby dbackjon » Fri Jul 29, 2011 9:57 am

AZGrizFan wrote:
dbackjon wrote:
Do 74% understand what a Balance Budget Amendment would entail? Are they willing to cut Medicare/Defense/Home Mortgage Deductions?


It is great in theory, but no one wants to make the sacrifices needed.


Jon, I'm convinced CONGRESS doesn't understand it. :coffee:


No argument there
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Re: CNN Poll: 74% favor balanced budget amendment

Postby bluehenbillk » Fri Jul 29, 2011 10:57 am

AZGrizFan wrote:Boehner has completely lost the house.

And 74% favor a balanced budget amendement, so clearly the democrats won't vote for one. They have a nasty habit under Pelosi/Reid of believing THEY know what's good for America, even when the vast majority of Americans disagree with them (see healthcare, stimulus packages, etc., etc., etc.).


Agreed on Boehner. Basically both houses of Congress are lacking leadership on both sides of the aisle. Good for nobody.
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Re: CNN Poll: 74% favor balanced budget amendment

Postby Ivytalk » Fri Jul 29, 2011 11:12 am

danefan wrote:
∞∞∞ wrote:Ok, I've only taken a few intro economic classes, but my understanding is that a balanced budget isn't always a good idea. Don't governments, just like businesses, need to borrow money to invest into things that over time will bring in more revenue? Doesn't having a debt (at least not one that's as big as it is now) show that other countries have faith in us to return the money plus some, and that we're investing the money into something that will generate further growth for the United States?

Wouldn't having a Constitutional amendment to balance the budget mean that we'll solely have to rely on what we produce to keep growing? While it doesn't completely stop growth, it does slow it down quite a bit. Having some debt is good, having a lot isn't.

Also, on a side note, the majority opinion isn't always right. I can't keep stressing that enough.




















A balanced budget amendment would spawn all sorts of chicanery. What is a budget? What happens if some expenditures are "off-budget"? It's a lot harder to craft something for the Constitution that is truly airtight, let alone something that provides for the occasional national emergency. That 14th Amendment provision on the sanctity of the federal debt is already causing enough anxiety. I say leave our fundamental document alone, and fire the 535 azzholes who are screwing things up to a fare-thee-well. Make that 537 azzholes, counting Barry and Joe.


Damn iPad. Ivy talk's post is above.



Agreed to an extent. The kicker for though is in a business setting you would never leverage up without a clearly defined end goal and a cash flow projection showing when you'd be able to pay down if you didn't want to roll it into something else. Our governments (state, local and fed) do not do anything close to that. We essentially take recurring bridge loans to bridge to nothing. Eventually the bridge collapses if you don't stop the growth of spending.

A balanced budget amendment isn't the way to correct this though, partly because no one will ever agree when it is balanced. The CBO estimates on cost and revenue are nothing more than projections. Either side can poke holes in them to suit their purposes.
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