Is America Really Headed Toward Bankruptcy?

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A new poll shows a majority of Americans believe the U.S. is headed for bankruptcy.

Rasmussen Reports found that 51 percent predict the U.S. government will go bankrupt before elected officials take action to balance the budget. Only 36 percent said they think the federal budget will be balanced first.

Rasmussen also found in earlier polls that 64 percent think budget cuts should be considered in every government program. And 56 percent favor a balanced budget amendment to the U.S. Constitution.

Researchers conducted the survey of 1,000 likely voters May 14-15, 2012. The margin of sampling error is plus or minus 3 percentage points with a 95 percent level of confidence.

Quin Hilyer, senior fellow at the Center for Individual Freedom, has more on the debt crisis and rising fears among Americans. Click play for his comments on how concerned the United States should be about the current deficit and economy.

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