Leaving the Senate, New Hampshire’s Judd Gregg offers bleak view on ‘inevitable fiscal meltdown’

November 17, 2010 07:34
Leaving the Senate, New Hampshire’s Judd Gregg offers bleak view on ‘inevitable fiscal meltdown’

“After the threat of a terrorist using a weapon of mass destruction it’s the biggest threat we have – the impending and inevitable fiscal meltdown of our nation if we don’t take action to correct our financial health,” Gregg said in an interview with The Daily Caller.

By Jonathan StrongThe Daily Caller

EXCERPTS:

“Right now we’re in a situation where it’s totally predictable what’s gonna happen. I can’t pick the date, but I guarantee you that three to seven years from now we will see a financial crisis of inordinate proportions if we don’t take actions to reduce the rate of growth of our debt,” Gregg said. “Unfortunately American politics and governance usually reacts best in crisis and isn’t very good in anticipation of problems. We’re good at the next election but we’re not very good at the next generation.”

He continued: “The result of a financial meltdown as a result of people losing confidence in our fiscal structure will be a significant reduction in the standard of living for most Americans and a very dramatic change in our relationship internationally in the area of national security.”

FULL STORY



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