Six Percent of Voters Think Default Would Be Good for the Economy

Six Percent of Voters Think Default Would Be Good for the Economy

Six Percent of Voters Think Default Would Be Good for the Economy

Weigel
Reporting on Politics and Policy.
July 15 2011 12:43 PM

Six Percent of Voters Think Default Would Be Good for the Economy

That's from Rasmussen's new poll, the one with the topline result that bolsters the GOP's "no tax hikes!" argument as more detailed polls degrade it.

If the debt ceiling is not raised, the federal government will default on some of its loan obligations because it will not be able to make interest payments on the federal debt. If the government defaults on its debt, would that be good for the economy, bad for the economy, or have no impact on the economy?
Bad for the economy - 69%
Good for the economy - 6%
No impact - 14%
Not sure 11%
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A disproportionate number of these people have been elected to Congress. The way to believe that default would be good for the economy is, I think, to believe that it would spook the political class into cutting a long-term realistic spending cut deal. But that leaves out the damage from the bond rating downgrade -- plenty of damage from AAA to AA, insane, Bruckheimer-movie damage from AAA to D.

David Weigel is a reporter for the Washington Post.