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Most see damage if debt limit isn’t raised

Most Americans think jarring economic problems will erupt if lawmakers fail to increase the government's borrowing limit. Yet they're torn over how or even whether to raise it, leaning toward Republican demands that any boost be accompanied by spending cuts.

By Alan Fram, Jennifer Agiesta | Updated on January 18, 2013
President Barack Obama, accompanied by House Speaker John Boehner of Ohio, speaking to reporters in the White House, as he hosted a meeting of the bipartisan, bicameral leadership of Congress. (AP Photo/Carolyn Kaster, File)

WASHINGTON (AP) — Most Americans think jarring economic problems will erupt if lawmakers fail to increase the government’s borrowing limit. Yet they’re torn over how or even whether to raise it, leaning toward Republican demands that any boost be accompanied by spending cuts.

According to an Associated Press-GfK poll, 53 percent say that if the debt limit is not extended and the U.S. defaults, the country will face a major economic crisis. An additional 27 percent say such a crisis would be somewhat likely, while just 17 percent largely dismiss the prospects of such damage.

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