Government Spending On Auto-Pilot

As of this article on 10/8/2012

The U.S. House and U.S. Senate are in recess and the White House is running on auto-pilot while President Obama is focused on trying to convince voters that he should be re-elected for four more years. Government big spending continues on auto-pilot and headed for the fiscal cliff.

So, let's focus on the "economy," "politics as usual" and "Findings from Key Polling Data" by one of our allies  - Public Notice. Below are their current weekly summaries.

Public Notice is an independent non-profit dedicated to providing facts and insight on the economy and how government policy affects Americans’ financial well-being.

ECONOMIC SNAPSHOT

Current Deficit: $1.16 trillion
Current National Debt: $16.16 trillion
Debt Per Household: $141,478
Debt Per Individual: $51,386
Unemployment Rate: 7.8%

Politics As Usual

• It’s no secret how our economy got to where it is today. Washington does the same thing over and over, but expects different results. Any American can tell you what happens when you consistently spend more money than you take in. It’s no way to run a household, and it’s certainly no way to run a country.
• Our economy faces unprecedented challenges that will require unprecedented solutions. Tired political games and empty promises won’t put millions of Americans back to work.
• The President promised change back in 2008. It’s what we wanted and needed. But, unfortunately, over the last three and a half years, Washington hasn’t changed. Hardworking taxpayers are tired of both parties promising so much yet delivering so little.
• Changing the system won’t be easy. Washington has placed politics over people for years. It may have been able to get away with it for a while, but the consequences are now far too real.
• We can’t keep trying the same tired policies. We’ve seen time and time again that the government spending cannot create a sustained economic recovery. Americans need lawmakers to make the hard choices.
• Our economy has been driven deeper and deeper in debt as a direct result of Washington’s irresponsible and wasteful spending. The reason we can’t truly heal the economy, cut wasteful Washington spending, and strengthen vital health and retirement systems is because politicians are putting their own elections ahead of the voters’ interests.
• At a time when American families are struggling just to make ends meet, Washington continues to thrive. The government keeps spending while the rest of us – families and Main Street businesses – are still learning to do more with less.
• Lawmakers caught up in a never-ending campaign cycle promise action, but rarely deliver. When it comes to the most serious economic issues, whether it’s taxes, spending, healthcare, we can count on Washington to put their political future ahead of real reform. Our economy can no longer afford empty promises. We need action now.

KEY POLLING DATA

Public Notice released the results of a national survey of 1,022 registered “likely voters” conducted by the Tarrance Group via telephone Oct. 1-4, 2012, with a margin of error of +/- 3.1 percent on two key questions on government spending and the economy that have dominated the national debate in recent months.

Key Findings:

• New survey data shows voters believe President Obama would use any new revenue from a possible tax increase to increase spending on government programs, while voters also believe that less government spending would do the most to grow the economy over the next four years.
• If a tax increase were to go into effect, a majority of men (61%), women (53%), and Independents (60%) say President Obama would use the additional money raised from the tax increase to increase spending on government programs. Democrats (58%) are the only partisan group to believe President Obama would use additional revenue to help pay down the debt and deficit.
• Nearly three quarters (73%) of men and two thirds (67%) of women say less spending would do the most to grow the economy over the next four years. Nine in ten (91%) Republicans, three quarters (75%) of Independents, and a plurality (48%) of Democrats also say less government spending would be most helpful to the economy.
• Other key groups believing less spending would be most helpful to the economy: union households (66%), married women (74%), self-identified low income voters (67%), middle class families (76%), and Hispanics (64%).
  
  Click here to read the full memo [opens PDF file].

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