Three-Fourths of Voters Concerned About the Size of the $31+ Trillion National Debt

According to a recent Rasmussen Reports poll, three-fourths of prospective voters are at least somewhat concerned about the magnitude of the national debt, and more than half of them are “extremely concerned” about it.

“The U.S. national debt is now more than $31 trillion. How concerned are you about the size of the national debt?” Rasmussen asked 1,000 U.S. likely voters in a survey conducted January 2-4, 2023 according to CNS News.

76% of people say they are at least somewhat concerned about the growing national debt, and 53% say they are extremely concerned. Only nearly one in five (21%) people say they aren’t worried.

87% of Republicans, 67% of Democrats, and 73% of people who do not identify with either major party are at least somewhat concerned about the magnitude of the national debt in the United States.

Republicans (69%) and voters without a political affiliation (53%) are more concerned about the debt than Democrats (38%) are.

Voters who identify as Democrats (73%) are also much more inclined to support the $1.7 trillion omnibus spending plan that President Joe Biden signed into law last month than are Republicans (21%) and unaffiliated voters (40%)

According to CNSNews.com, President Biden increased the government debt in 2022 by nearly $11,374 for each American worker while working with a Democratic-controlled Congress.

The federal debt was $29,617,214,856,051.75, according to the U.S. Treasury, as of December 31, 2021. It will total $31,419,689,421,557.90 by December 30, 2022. Consequently, the federal debt increased by $1,802,474,565,506.15 in calendar year 2022.

Investopedia did a rundown of “What the National Debt Means to You,” saying that the political controversy has long surrounded the issue of the national debt in the United States.

According to the publication, it is simple to understand why the problem is attracting increasing attention from economists, players in the financial markets, and critics of governmental actions given its recent quick rise following federal spending increases associated with the COVID-19 outbreak.

Public anxiety about the U.S. government’s debt, which reached $31 trillion in October 2022, has been consistently high, according to polls. Both nominally and in relation to the US gross domestic product, the debt has increased (GDP), according to Investopedia.

At the same time, substantial majorities of Americans supported the spending on pandemic assistance while opposing cuts to the most expensive government programs.

Additionally, most people think they currently pay too much in federal income taxes while supporting tax hikes for wealthy people and corporations.

The predictable outcome of the tax and spending policies, which continue to enjoy widespread public support, is the public debt that people claim makes them uncomfortable. Another issue is that many people don’t know how the national debt affects or may affect their individual lives and wallets.