Poll: Majority say lack of long-term fiscal plan jeopardizes economic growth

A majority of Republican and Democratic voters say that the inability of Congress to enact a long-term fiscal plan creates uncertainty about the future and has serious consequences for the economy.

Following the 16-day government shutdown and debt ceiling standoff a new poll released on Wednesday finds that a majority of voters in both parties are willing to compromise on key issues in order to achieve that solution.

The poll from the Peter G. Peterson Foundation, shows that 54 percent of Republicans would be willing to accept revenue increases, and 53 percent of Democrats would agree to entitlement reforms as part of a comprehensive plan to bring stability to the nation’s long-term debt.

All told, 90 percent of voters says that congressional inaction on fiscal issues is letting uncertainty fester and is damaging economic growth. 

On top of that, 94 percent say that Congress needs to reach a long-term plan to deal with nearly $17 trillion debt instead of relying on short-term fixes. 

A House-Senate budget conference began Wednesday and has a Dec. 13 deadline for lawmakers to find a path forward on many of these issues. 

The poll showed that 89 percent of voters say it is important for the conferees to focus on a longer-term fiscal plan to reduce the nation’s debt. 

Almost unanimously, 95 percent of voters say that they would like to see Democrats and Republicans work together to solve the country’s long-term fiscal and economic problems.

“Despite Congress’ inability to reach bipartisan compromise, a majority of Americans in both parties are willing to agree to difficult policy changes to achieve a long-term plan on our national debt,” said Michael Peterson, president and chief operating officer of the Peterson Foundation.

Other key findings of the poll include: 

• 79 percent say that the shutdown had an effect on the U.S. standing in the world 

• 77 percent say that it damaged the future outlook of the national economy; and 70% believe that the shutdown had an effect on every day Americans.

 • 88 percent say it is important (57% extremely important) for the bipartisan committee to reach an agreement on the 2014 budget and an equal number say they must also focus on a longer-term fiscal plan to reduce the national debt.