A leading voice for government spending restraint, Sen. Judd Gregg (R-N.H.), ranking Republican on the Senate Budget Committee, says that the U.S. economy faces a future as a “banana republic” if current federal fiscal policies continue.
“We’re creating these massive debts which we’re passing on to our children,” Gregg said on CNN on Sunday.
“We’re going to undermine fundamentally the quality of life for our children by doing this. You can’t blame that on George Bush.”
Using the Obama administration’s own projections, the budget deficit for the next 10 years is $1 trillion per year. Public debt as a percentage of gross domestic product also will increase. (more)
No comments:
Post a Comment