Poll: To cut deficit, Americans support tax hike on rich

We're guessing you've heard just about enough lately on Washington leaders' views on deficit reduction. But what about regular Americans? How do they feel about the various ideas to balance the budget?

According to a new survey, they're not too excited about most of them -- with one exception: raising taxes on the rich.

Seventy-two percent of respondents to a new Washington Post/ABC News poll said they'd support raising taxes on people who make $250,000 or more, while 27 percent said they'd oppose it.

Every other approach to deficit reduction received more opposition than support. Just 21 percent backed cuts to Medicare, with 78 percent opposed. The numbers for cuts to Medicaid were little better: 30 percent supportive, 69 percent opposed. Forty-two percent said they'd support a reduction in defense spending, with 56 percent against it. And 45 percent said they'd accept a small, across-the-board tax increase combined with small cuts to Medicare and Social Security, while 53 percent opposed it.

The Bush tax cuts are scheduled to expire again at the end of 2012, and President Obama has called for not extending them on the roughly 2 percent of Americans who make $250,000 or more. Republicans counter that all the cuts should be extended, so the 2012 presidential race could see an intense debate over the issue.

Ending the cuts for the wealthy would reduce the deficit by around $680 billion by 2020. That's a lot, but, many observers say, not enough to fully address the problem.

On Monday, the ratings agency Standard & Poor's altered its outlook on the U.S.'s AAA credit rating to "negative," saying political gridlock could make it difficult to forge an agreement on how to reduce the deficit. And it looks like Americans' attitudes could make it even harder.

(J. Scott Applewhite/AP)