WASHINGTON—Americans are worried about the prospect of the U.S. government defaulting if Congress fails to raise the debt ceiling, but are divided over the action to be taken, according to a Reuters/Ipsos poll completed on Monday.
The polls show neither Democratic President Joe Biden nor congressional Republicans hold a clear advantage in public opinion as they continue their discussions to resolve a months-long standoff over the nation’s $31.4 trillion debt limit.
The Treasury says it could run out of money to pay the country’s bills as soon as June 1 unless Congress increases the borrowing cap. Economists say the resulting default would roil global financial markets and plunge the U.S. into recession.
The poll found that 76 percent of Americans said the two sides must reach a deal because a default would put added financial stress on families like theirs. That included 84 percent of self-described Democrats and 77 percent of self-described Republicans.
Only 29 percent said they thought the issue was being overblown.
The survey found that Americans are split over the best way to resolve a showdown.
Some 49 percent said Congress needs to quickly raise the debt ceiling without conditions to avert default, echoing Biden’s position.
Some 68 percent of Democrats and 39 percent of Republicans took that view.
But 51 percent of Americans said the debt ceiling should not be raised without substantial spending cuts—the position held by Republicans who hold a majority in the House of Representatives.
That view was held by 69 percent of Republicans and 42 percent of Democrats, the poll found.
The online poll of 4,415 U.S. adults was conducted between May 9 and May 15. It has a credibility interval, a measure of accuracy, of plus or minus 2 percentage points.
