Results: Growing National Debt
Published on 06/02/2025
The source for this survey is the article, "Robert B. Reich: Here’s the real cause of our growing national debt." Robert Reich, former U.S. Secretary of Labor, is professor of public policy at the University of California at Berkeley and the author of “The System: Who Rigged It, How We Fix It.” Read more from Robert Reich at https://robertreich.substack.com/

QUESTIONS
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Comments
1.
1.
"The credit rating of the United States was recently downgraded. Moody's, the ratings firm, announced that the U.S. government's rising debt levels will grow further if President Trump's Republican package of new tax cuts is enacted. This makes lending to the United States riskier. Moody's is the third of three major credit-rating agencies to downgrade the credit rating of the United States. So-called "bond vigilantes" are being blamed. They've already been selling the U.S. government's debt, as the Republican tax package moves through Congress. They're expected to sell even more, driving long-term interest rates even higher to make up for the growing risk of holding U.S. debt." Are you concerned about the United States' growing national debt?

Yes
47%
986 votes
No
11%
238 votes
Undecided
10%
204 votes
Not Applicable
32%
672 votes
2.
2.
"Some right-wing Republicans in Congress have already used the Moody's downgrade to justify deeper spending cuts in Medicaid, food stamps, and other social programs that lower-income Americans depend on. But, hello? There's a far easier way to reduce the federal debt. Just end the Trump tax cuts that mainly benefit the wealthy and big corporations — and instead raise taxes on them." Do you believe that wealthy Americans should pay higher taxes?

Yes
55%
1145 votes
No
10%
203 votes
Undecided
10%
202 votes
Not Applicable
26%
550 votes
3.
3.
Reich states, "I'm old enough to remember when America's super-rich financed the government with their tax payments. Under President Dwight Eisenhower — hardly a left-wing radical — the highest marginal tax rate was 91%. (Even after all tax credits and deductions were figured in, the super-rich paid way over half their top marginal incomes in taxes). But increasingly — since the Reagan, George W. Bush, and Trump 1 tax cuts — tax rates on the super-rich have plummeted. Do you think that tax laws that allow uber-rich Americans to control most of the nation's wealth are fair?

Yes
10%
218 votes
No
48%
1006 votes
Undecided
12%
249 votes
Not Applicable
30%
627 votes
4.
4.
"So instead of financing the government with their taxes, the super-rich have been financing the U.S. government by lending it money. (You may have heard that America's debt is held mainly by foreigners. Wrong. Over 70% of it is held by Americans — and most of them are wealthy). So, an ever-increasing portion of the taxes from the rest of us are dedicated to paying ever-increasing interest payments on the debt — going largely to the super-rich." Is that fair to the majority of Americans who are not wealthy?

Yes
8%
174 votes
No
49%
1027 votes
Undecided
12%
245 votes
Not Applicable
31%
654 votes
5.
5.
"When the debt of the United States is downgraded because Trump Republicans are planning another big tax cut mainly benefiting the rich and big corporations, most Americans could end up paying in three different ways: 1. They'll pay even more interest on the growing debt — to the super-rich. 2. They'll pay higher interest rates on all other long-term debt (as higher rates on Treasury bonds waft through the economy, they raise borrowing costs on everything from mortgages to auto loans). 3. The debt crisis will give Republicans even more excuse to do what they're always wanting to do: slash safety nets. So many Americans could lose benefits they rely on, such as Medicaid and food stamps." Is this fair for the majority of Americans who are not wealthy?

Yes
8%
167 votes
No
49%
1026 votes
Undecided
11%
226 votes
Not Applicable
32%
681 votes
6.
6.
"The so-called "bond vigilantes" are easy scapegoats. They're not the cause of this absurdity. Nor is the growing national debt. Just follow the money. The real cause is the growing political power of the super-rich and big corporations to lower their taxes at the expense of most Americans." Should Congress rein in the power of wealthy Americans to pay down the national debt?

Yes
45%
941 votes
No
9%
183 votes
Undecided
14%
287 votes
Not Applicable
33%
689 votes
COMMENTS