Posted on 02/16/2010 6:43:52 PM PST by kristinn
Using his strongest language to date, Sen. Judd Gregg (R-NH) continued to sound the alarm about the dangers Barack Obama's budget policies pose to the fate of the nation in a speech given today to the New England Council in Bedford, New Hampshire.
The Ranking Member on the Senate Budget Committee has been speaking out in very stark terms about the effects Obama's trillion dollar deficits and out of this world spending will have on the near and long term future of the American people.
The Union Leader quoted Gregg as saying Obama's fiscal policies will lead to bankruptcy for the nation.
Gregg took aim at the President's $3.83 trillion proposed budget, which the Senator claimed would lead to economic disaster.
"We are right now, unquestionably, on a financial course which is unsustainable, which If we continue on this course, will lead our nation into some level of fiscal bankruptcy."
The AP quoted Gregg as saying Obama's policies will likely cause a "horrific event."
"The threat is that five to seven years from now we're going to have to substantively devalue the dollar, creating an inflationary event which would be a horrific event for the American people ... or alternatively, we will have to raise taxes so dramatically to catch our tail here on the spending side that we will basically crush productivity."
Gregg used slightly less alarmist language when he wrote in Investors Business Daily in June 2009 of his concerns about the ruinous debt Obama was planning for the nation.
Right now we are on a perilous and unsustainable fiscal course, which, if left unchecked, will lead to some disastrous results — devaluation of the dollar, massive inflation and a confiscatory tax rate on our children that will destroy any hope for the same economic opportunities and lifestyle that we have enjoyed.
Gregg's proposal for a bi-partisan Congressional committee on debt reduction was recently waylaid by partisan brinksmanship.
Gregg is retiring at the end of the 111th Congress after serving three terms as senator.
As I have stated to prospective candidates: The Republicans and other Conservatives had better have a plan in place for when the Democrat's economic horror show begins as the repercussions of current bills and future programs kick in, or they will get the blame, especially with a hostile media.
I think that has been part of the plan all along, to enact programs which will kick in after they lose the Congress and perhaps the White House.
Their replacements had better stop the bleeding, debriede the Government (get rid of the dead weight), and close the spending floodgates in the first 30 days or all hell will break loose, with the perpetrators 'safely' out of both office and the public (media) eye.
The GOP is simply not going to do anything to make real necessary cuts.
I have long anticipated that inflation was the key to paying off government obligations. Unfortunately the inflation already in the pipeline is way beyond what would have achieved those meager ends, because the debt just keeps growing.
The big money isn't in scamming unemployment, or even welfare, even though that adds up. It is in the contracts to provide public housing, bailouts for votes bought with NINJA loans, and multiple other wasteful projects (like "Global Warming research") that pisses away billions at a shot rather than a few hundred here and there.
Criminy, the government was talking about removing even more land from useful productivity (and yes, oil and gas exploration) and making "National Monuments" out of it--at a cost of a grundle of dollars.
Just the studies alone to remove this land from useful ventures cost a fortune.
We need to take the same machete to the Federal budget I had to take to my own when I got laid off, and cut the unconstitutional dead weight out of the system.
“...You da man...”
I do try, buddy...
Thanks kristinn.
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