Senator Judd Gregg: this is the guy Obama wanted for his Commerce Secretary.
Maybe we now see why he declined (he didn’t want to share the blame for the United States going financially down the tubes).
Budget deficits that run in the trillions and make up 4-5% of the nation’s GDP are, as Gregg says, “unsustainable by any form of government.” For you thought-challenged liberals out there, “any” includes a republic, which is the form of government of the United States.
Gregg also says the public debt will be around 80% of GDP (historically it’s been around 40%).
“The practical implications of this is bankruptcy for the United States,” Said Senator Gregg. “There’s no other way around it. If we maintain the proposals which are in this budget, over the 10 year period that this budget covers, this country will go bankrupt.”
I know some people seem to think the United States can just keep going deeper and deeper into debt, that if we want it we must have it, but that does not in the slightest match up with reality.
And when that happens, we will have yet another example that socialism simply does not work. Only this time, Americans will be the poor saps out in the cold to prove it.
Americans of conscience, sanity and patriotism must call for an end to this lunacy NOW. Find a Tea Party near you and help them make it a resounding success. Patriots must speak out LOUDLY right now before it’s too late.