A majority of voters are fine with a partial shutdown of the federal government if that�s what it takes to get deeper cuts in federal government spending.I happen to think a government shutdown would be a good thing. People would find out the world will not end as Tim Geithner and the Obama administration seem to believe. Nor will the bond market fall apart as some at the Fed think.
A new Rasmussen Reports national telephone survey finds that 57% of Likely U.S. Voters think making deeper spending cuts in the federal budget for 2011 is more important than avoiding a partial government shutdown. Thirty-one percent (31%) disagree and say avoiding a shutdown is more important. Twelve percent (12%) are not sure.
The legislators have avoided a shutdown by passing a series of stopgap budget bills, but several conservative Republicans now say they will not support any more of these measures. In the event of a shutdown, payments for things like Social Security, Medicare and unemployment benefits would continue.
Still, a plurality (44%) of voters thinks a partial shutdown of the federal government would be bad for the economy, down four points from February. Twenty-three percent (23%) say a shutdown would be good for the economy, while a similar number (22%) say it would have no impact, a seven-point increase from the previous survey.
However, it is ridiculous for Republicans to be in this situation over a measly $30 billion, less than 1% of the budget.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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