From CNS News:
Sen. Judd Gregg (R-N.H.), along with other members of Congress and leading financial experts, is warning that the United States is in danger of being in the same dire situation as Greece – national bankruptcy -- in seven to 10 years unless the federal government radically curtails spending.
Last month, Gregg, the ranking Republican on the Senate Budget Committee, said the United States will “essentially be where Greece is in about seven years.”
“If we continue to spend much more than we take in," he says. "We'll double our debt in five years and triple it in 10 years and essentially be where Greece is in about seven years,” Gregg told the Fox Business Network in May.
Rep. Paul Ryan (R-Wis.), the ranking Republican member of the House Budget Committee, has also said that the United States has been making decisions similar to that which caused Greece’s debt crisis.
“We’re on this trajectory where we will have more takers than makers in society. We’re going to have more people taking from government than living on their own, paying taxes and contributing into it. That is a dangerous position to be in, that’s the position Greece is in,” Ryan said in a radio interview on News/Talk 1130 WISN in May.
Brian Riedl, lead budget analyst at The Heritage Foundation, agrees that unless the federal government radically curtails spending, a debt crisis as severe as or worse than that now happening in Greece will erupt in the United States in as soon as seven to 10 years.
“We can say that we will be at about the Greek level of debt probably in the next seven to 10 years,” Riedl told CNSNews.com. “There is no reason that with the same economic policies at the same level of debt, that the United States won’t face the same economic and financial crisis as Greece.”
Full story
We have a debt bomb ticking in America and President Obama and the Democrats lit the fuse.
If we continue on this present Europrean-stlye course of wild irresponsible spending, and borrowing and do nothing to avoid this boob from finally exploding, we’ll become a 3rd world nation with hyper-inflation, skyrocketing interest rates, and a 25% and up unemployment rate.
Mind you, these would be average statistics because Black and Latino communities in our inner cities would be hit twice as hard, again by design, to perpetuate a scapegoat template of permanent “victim/oppressed” status for minorities, women, gays and other protected PC groups so they (Democrats) can blame the rich, White, greedy, bankers and hedge funds on Wall Street for the problem instead of themselves.
And all of this will be the final step to radically alter the distribution of wealth of the United States to make it more “fair” for everyone.
In fact, the word “fairness” will be the new black.
If we don’t change course in November, and allow the debt KA-BOOM to take place, the Democrat-controlled government will tell the people with a straight face and a smile, that they are the solution to the problem and if we all stick together and give up some more of our personal freedom, we can turn America into a socialist Utopia where all your needs are provided for by government to weather the crisis.
Millions will fall for it, and the Americas we used to know will be dead and gone.
Riots in Greece
Via CNS News
Sen. Judd Gregg (R-N.H.), along with other members of Congress and leading financial experts, is warning that the United States is in danger of being in the same dire situation as Greece – national bankruptcy -- in seven to 10 years unless the federal government radically curtails spending.
Last month, Gregg, the ranking Republican on the Senate Budget Committee, said the United States will “essentially be where Greece is in about seven years.”
“If we continue to spend much more than we take in," he says. "We'll double our debt in five years and triple it in 10 years and essentially be where Greece is in about seven years,” Gregg told the Fox Business Network in May.
Rep. Paul Ryan (R-Wis.), the ranking Republican member of the House Budget Committee, has also said that the United States has been making decisions similar to that which caused Greece’s debt crisis.
“We’re on this trajectory where we will have more takers than makers in society. We’re going to have more people taking from government than living on their own, paying taxes and contributing into it. That is a dangerous position to be in, that’s the position Greece is in,” Ryan said in a radio interview on News/Talk 1130 WISN in May.
Brian Riedl, lead budget analyst at The Heritage Foundation, agrees that unless the federal government radically curtails spending, a debt crisis as severe as or worse than that now happening in Greece will erupt in the United States in as soon as seven to 10 years.
“We can say that we will be at about the Greek level of debt probably in the next seven to 10 years,” Riedl told CNSNews.com. “There is no reason that with the same economic policies at the same level of debt, that the United States won’t face the same economic and financial crisis as Greece.”
Full story
We have a debt bomb ticking in America and President Obama and the Democrats lit the fuse.
If we continue on this present Europrean-stlye course of wild irresponsible spending, and borrowing and do nothing to avoid this boob from finally exploding, we’ll become a 3rd world nation with hyper-inflation, skyrocketing interest rates, and a 25% and up unemployment rate.
Mind you, these would be average statistics because Black and Latino communities in our inner cities would be hit twice as hard, again by design, to perpetuate a scapegoat template of permanent “victim/oppressed” status for minorities, women, gays and other protected PC groups so they (Democrats) can blame the rich, White, greedy, bankers and hedge funds on Wall Street for the problem instead of themselves.
And all of this will be the final step to radically alter the distribution of wealth of the United States to make it more “fair” for everyone.
In fact, the word “fairness” will be the new black.
If we don’t change course in November, and allow the debt KA-BOOM to take place, the Democrat-controlled government will tell the people with a straight face and a smile, that they are the solution to the problem and if we all stick together and give up some more of our personal freedom, we can turn America into a socialist Utopia where all your needs are provided for by government to weather the crisis.
Millions will fall for it, and the Americas we used to know will be dead and gone.
Riots in Greece
Via CNS News
