Wednesday, May 12, 2010

Gregg: U.S. May Follow Greece Into a Debt Crisis

Sen. Judd Gregg, R-N.H., says the United States is in danger of being in the same dire situation as Greece in seven years if the nation doesn't slash its debt and control spending.

“We are on a path which will go to where Greece is, there's no question about that, if we don't adjust our present financial house,” Gregg says.

“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,” he said Monday night on the Fox Business Network. (more)

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