Seventy-five percent of Republican voters say the debt limit should not be lifted.
While politicians in Washington, D.C. meet in hopes of reaching an agreement that would allow the federal government to take on debt above the current statutory limit, nearly half of Americans say the cap should be left in place, according to aThe poll found that 45 percent of respondents said they did not favor Congress lifting the debt ceiling. Forty-four percent favor lifting it.
What happens next, in the absence of a deal, is unknown. Some say the government would be forced to ‘default’ on its obligations, including payments on U.S. Treasury bonds, military salaries, and Social Security benefits. Others believe the federal government could continue to provide funds to pay the bonds, pay military and other government officials, and make Social Security payments while putting payments to private sector vendors on pause, a maneuver known as “prioritization.
Some have said the government could use a law allowing for the Treasury Secretary to mint commemorative or collectible platinum coins of various denominations to create a trillion coin that could be deposited at the Federal Reserve to pay bills. Some constitutional scholars, primarily on the left, have said the president could ignore the debt limit, arguing that it violates a 14th Amendment prohibition on questioning the validity of government debt.
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