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There are concerns that a democratic Lords could challenge the primacy of the Commons and lead to legislative gridlock.
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European sovereign debt, the still weak labor market, the U.S. federal deficit and potential legislative gridlock were the most commonly cited negative factors.
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But sometimes a centre-left majority holds sway in the Parliament on environmental or civil liberties issues, and in such cases there is often legislative gridlock, Votewatch says.
BBC: EU votes show strong UK dissent - Votewatch study
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And it torpedoed the referendum scheduled to be held next month that would have put these issues to a popular vote in order to break the legislative gridlock.
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Many MPs, especially Tories, worry that a second chamber with an electoral mandate would challenge the primacy of the Commons and substitute Britain's tradition of strong government for American-style legislative gridlock.
ECONOMIST: Electing the Lords
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Will it end legislative gridlock?
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Lord Carter, the Labour former government chief whip, said the potential for legislative "gridlock" between the new Lords and the Commons had not been looked at.
BBC: Heavyweights clash over Lords reform
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As one of the first issues to be taken up, these hearings and legislative efforts signal an even more partisan tone in Washington and the likelihood of considerable gridlock between now and 2012.
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And the question is this: Many of the legislative functions of the federal government right now are in a state of paralysis as a result of partisan gridlock.
WHITEHOUSE: The White House