Or, Magic Networks of People and Their Things …
The ongoing, quite painful and confusing political standoff in Washington is a dual cliffhanger. There’s the slow motion game of Democrat and Republican behemoths playing chicken over continuing regular Federal government funding. And there’s the simultaneous slo-mo race toward the edge over raising the Federal borrowing limit. All of this is a big deal. It’s political drama. It’s also a sometimes genuinely tragic and sometimes melodramatic confrontation with the fact that many of us either need or take for granted certain government services. And it’s definitely a spectacular bare-it-all moment, when it becomes clear that the American voting population is BOTH split AND ambivalent in their beliefs about how money and debt work across private-public and local-global boundaries.
This post addresses this last issue: the ambivalence we have about money and debt.
This ambivalence may be gleaned from survey data published by the Pew Center, in an opinion poll report that I addressed in my previous post on the government shutdown. In the top right panel, it is clear that most people polled state that if the debt ceiling isn’t raised, it’s cause for worry. In fact, the Pew Center report notes that the aggregate opinion favoring raising the debt ceiling has actually improved since the last Washington standoff over this issue, from 40% in 2011 to 47% earlier this week. Yet, the political partisan divide in opinion about how serious the debt ceiling persists. And it’s, well, really conspicuous. For non-Tea Party Republicans, the opinion pattern is almost precisely flipped, when compared to the overall population. 47% of “mainstream” Republicans don’t think it’s a problem if the Federal government cannot borrow enough money to pay existing bills and debt obligations. 40% see raising the debt ceiling as important. The opinion that the debt ceiling should not be raised is by far most common, though, among Tea Party Republicans, where a large majority (64%) are not worried about any consequences of going past next week’s deadline (after which the Federal government will have insufficient funds without the ability to borrow more).
Now, this is clearly a situation in which large groups of adults within a single cultural system simply have developed incompatibly divergent beliefs about how reality works–and is going to work in the near future.
Continue reading The Debt Ceiling Debate, Morality, and the Economy