Public Opposes a Debt Ceiling Increase, Why Won't Congress?

According to a Reuters/Ipsos poll released today, the “US public overwhelmingly opposes raising the country’s debt limit even though failure to do so could hurt America’s international standing and push up borrowing costs.”

As far as the study is accurate, an astonishing 71 percent of the people have spoken, and they want to take a step now to clean up the nation’s ragingly out-of-control fiscal mess. However, for the sake of re-election, Congress is still more than likely to approve an increase and wager the prosperity of future generations… breaking piggy banks, and apparently floorboards, along the way.

The Daily Reckoning