MoreAs the national debt ceiling deadline looms, we asked readers in last week’s CI CyberNews CyberPoll if they think the national debt is hurting the economy. The majority of respondents (68%) answered yes, while 28% don’t think the national debt is hurting the economy and 4% are unsure.
Comments included:
“This is a cash flow issue. Money placed in industry’s hand will flow at ~1.2-2.0 times faster (annually) than the same money in the government’s hand. Most government programs are slow to spend the money they have collected or borrowed. That is a result of the entrenched and inefficient budget cycle that involves Congress and the President. Consequently, every dollar tied up in the government’s coffers will result in a smaller GDP. If the debt were small when compared with the GDP, this effect would be insignificant. The debt, by anyone’s standards, cannot be considered small or insignificant. As observed in Greece and Spain, a large national debt is a major contributor to unemployment and sluggish business activity.” - Craig King
“The joblessness and fewer companies in the USA creating jobs causes market fears, less consumer spending causes layoffs, less investments in emerging markets causes a stagnant economy. In this second “great depression” we are just not starving fast enough for some.”
“It’s a symptom: what’s hurting us is politicking more than governing, letting millionaires/billionaires get richer, and GOP backing themselves into a corner by refusing to cooperate in any way.”
“Yes, it affects confidence.”
“More like destroying the economy.”
Are you interested in taking the industry’s pulse on a particular topic? Send your suggestions for CyberPoll questions to Kelsey Seidler at seidlerk@bnpmedia.com.
Many thanks to all of the CI CyberNews readers who have participated in our CyberPolls. Not a CI CyberNews subscriber? Follow this link to sign up for your free subscription!
Comments included:
“This is a cash flow issue. Money placed in industry’s hand will flow at ~1.2-2.0 times faster (annually) than the same money in the government’s hand. Most government programs are slow to spend the money they have collected or borrowed. That is a result of the entrenched and inefficient budget cycle that involves Congress and the President. Consequently, every dollar tied up in the government’s coffers will result in a smaller GDP. If the debt were small when compared with the GDP, this effect would be insignificant. The debt, by anyone’s standards, cannot be considered small or insignificant. As observed in Greece and Spain, a large national debt is a major contributor to unemployment and sluggish business activity.” - Craig King
“The joblessness and fewer companies in the USA creating jobs causes market fears, less consumer spending causes layoffs, less investments in emerging markets causes a stagnant economy. In this second “great depression” we are just not starving fast enough for some.”
“It’s a symptom: what’s hurting us is politicking more than governing, letting millionaires/billionaires get richer, and GOP backing themselves into a corner by refusing to cooperate in any way.”
“Yes, it affects confidence.”
“More like destroying the economy.”
Are you interested in taking the industry’s pulse on a particular topic? Send your suggestions for CyberPoll questions to Kelsey Seidler at seidlerk@bnpmedia.com.
Many thanks to all of the CI CyberNews readers who have participated in our CyberPolls. Not a CI CyberNews subscriber? Follow this link to sign up for your free subscription!
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