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A visualization of the US Debt
Anger at government highest in 19 years: poll
Dissatisfaction and anger with the federal government are at a nearly 20-year high, according to the results of a
new ABC News/Washington Post poll released Wednesday.
When asked how they felt about the federal government, 80 percent of poll respondents said that they felt dissatisfied or even angry about the work the government is doing. The last time such a peak of ill will was felt was during 1992’s economic slump, under President George Bush’s leadership.
The public’s slumping opinion of the country’s political class can be actively attributed to the negotiations surrounding the debt ceiling: The dissatisfaction numbers rocketed up 11 points between this month and last.
Indeed, congressional Republicans are facing the fire of poor public opinion. The ABC News/Washington Post poll shows a 28 percent approval rating for them, with 77 percent of participants saying the Republican leadership is unwilling to negotiate, further slowing debt talks.
A CBS poll released earlier this week is even darker for the Republicans — they garnered only a 21 percent approval rating in that poll.
President Barack Obama and the Federal Reserve have declared a rapidly approaching August 2 deadline for a solution to the nation’s debt.
Putin Delivers Big, Mocking Speech Of US Debt, Trade Balance, And Out Of Control Fed
Russian Prime minister Vladimir Putin has called U.S. monetary policy “hooliganism” in a speech before his country’s parliament.
Putin also criticized the U.S. debt situation, and said Russia could not conduct its policy similarly.
“We see that everything is not so good for our friends in the States,” Putin told lawmakers in the lower house of parliament. “Look at their trade balance, their debt, and budget. They turn on the printing press and flood the world with dollars,” he said.
The speech seems pretty typical Putin, applauding himself for recent Russian successes, but it’s made in the context of the 2012 Russian presidential election, in which Putin is expected to run against current president Dmitry Medvedev.
He’s continued to emphasize the fact that Russia Read more…
Debt now equals total U.S. economy
President Obama speaks at Parkville Middle School and Center of Technology, in Parkville, Md., Monday, Feb., 14, 2011. At right is Office of Management and Budget Director Jacob Lew. (AP Photo/Carolyn Kaster)
President Obama projects that the gross federal debt will top $15 trillion this year, officially equaling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five years’ time.
Amid the other staggering numbers in the budget Mr. Obama sent to Congress on Monday, the debt stands out — both because Congress will need to vote to raise the debt limit later this year, and because the numbers are so large.
Mr. Obama‘s budget said 2011 will see the biggest one-year jump in debt in history, or nearly $2 trillion in a single year. And the administration says it will reach $15.476 trillion by Sept. 30, the end of the fiscal year, to reach Read more…
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