NEW YORK (CNNMoney) - House Republicans who refuse to consider tax increases as part of a debt ceiling deal are out of step with most Americans, according to two new polls.
That's bad news for Republicans who are betting the farm on resisting Democratic efforts to raise taxes on the rich.
When looking to reduce debt, politicians can employ two tactics. The first is to cut spending. The second is to raise taxes. Most budget experts say you need to do both.
But House Republicans - an overwhelming majority of whom have signed a pledge to this effect - refuse to consider any kind of tax increase, not matter who it hits.
Turns out, most Americans don't share their conviction.
A full 67% of Americans favor a deal to raise the debt ceiling that includes taxes on wealthy individuals and corporations, according to a poll released Thursday by Quinnipiac University.
And according to Gallup, only 20% of Americans want a deal that consists only of spending cuts. That's the position of House Majority Leader Eric Cantor and many of his colleagues.
Instead, most Americans want the deal to include a mix of spending cuts and tax increases, something that is much closer to the bargaining position staked out by Democrats.
What kind of tax increases are being discussed?FULL STORY on CNNMoney.com
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