The debt ceiling legislation passed last week mandates Congress to appoint 12 members of the new bipartisan Joint Select Committee on Deficit Reduction by Aug. 16. The committee has until Nov. 23 to develop its proposals for reducing the deficit.
Standard and Poor's downgrading of the U.S. credit rating on Friday, along with the generally downward movement of the stock market in recent weeks, may have reinforced Americans' pre-existing preference for political compromise. Democrats (67%) are the most inclined to say the committee should seek compromise, but a majority of Republicans (55%) and independents (57%) agree.
Among the one in four Americans who identify themselves as "supporters of the Tea Party movement," 53% would rather have lawmakers hold out for a plan they agree with, while 41% advocate compromise. Fourteen percent of Americans view themselves as strong Tea Party supporters, and 58% of this group (about 31% of all Republicans) takes the hard-line stance.
Increasing Taxes Leads Among Five Potential Approaches to Reduce Federal Debt
http://www.gallup.com/poll/148919/Americans-New-Debt-Supercommittee-Compromise.aspx
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