Debt is very easy to understand. As a individual, if you spend more money than you have in a given month you must borrow if you have no saving. Everyone understands it is never a good idea to go into to much debt. At some point no one will lend you money. You must than default. This line of reasoning does not escape governments. Everyone understands this. Unless of course you are an economist. Than you do not understand this.
Takes this poll from a few years back.
You can find more up to date polls that show approximately the same numbers. The article above has other important information I could not find in one concise article.
Whats the point?
Majority are very concerned about the national debt. However less than 5% of those surveyed want to cut entitlements. This is despite the fact that entitlements are going to sink the US government. No one wants to increase taxes (4%). This is very good. We can now draw a conclusion from the data.
Everyone loves their handouts. No one wants to pay for it.
There is a lie going around. “This country is very divided”.
On issues such as gay marriage. Yes. I can divided this country right down the middle. However, if any politician mentions reduction of entitlements, he/she will become unemployed. Perhaps even tarred and feathered.
The public demands their entitlements. How to pay for it? Not their problem. Just keep the money flowing. This is why both political parties perform lip service on reducing the debt but it never happens. The public is not serious about it. The government is nothing but a reflection of the masses.
The great bond bull market that started in 1981 will come to an end. The US government will default. They will not meet their obligations. This is obvious to any one with a calculator. The public will be confused. Than the greatest opportunity will be available. Explaining to the masses what happened:
You thought you could vote yourself prosperity? At the expense of who?