Inquiring minds are thinking there just might be hope that Americans are waking up to Liberal/Progressive/Socialist spending policies threatening the United States. Sen. Tom Coburn, R-Okla., has stood up to tell it like it is…and what it might be like in just a few more years:
“Apocalyptic pain” from an out-of-control debt could cause 18 percent unemployment and a massive contraction in the economy that would destroy the middle class, a leading Republican deficit hawk said in an interview that aired Sunday.
Sen. Tom Coburn, R-Okla., who recently issued a report on government waste, warned that the U.S. only has about three or four years to get its fiscal house in order or it could find itself facing austerity measures seen in Greece, Ireland, Spain, Portugal and earlier in Japan.
The Senator went on to describe what he sees happening if spending isn’t curtailed:
“The problem that faces our country today, the last 30 years we have lived off the future, and the bill is coming due,” he added.
The senator, who was recently elected to a second — and he pledges — final term in Congress, said he’s not trying to scare anyone, but eliminating waste in the federal government’s ledgers is imperative not just to prevent default but a massive implosion that he defined in catastrophic terms.
“I think you’ll see a 15 to 18 percent unemployment rate. I think you will see an 8 to 9 percent decline in GDP. I think you’ll see the middle class just destroyed if we don’t do this. And the people that it will harm the most will be the poorest of the poor, because we’ll print money to try to debase our currency and get out of it and what you will see is hyperinflation,” Coburn said.
“If we didn’t take some pain now, we’re going to experience apocalyptic pain, and it’s going to be out of our control. The idea should be that we control it,” he said.
What else really need be said?
Senator Coburn does. And it is very important. Please click on the link above to read about the proposed cuts.
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