American Bankruptcy

by Sal on February 27, 2009

in Economy,Politics

Sen. Judd Gregg, interviewed on Hannity last night, stated that the United States was headed for bankruptcy:

While it may seem alarmist, the deficit has reached record levels this year in dramatic fashion.  There may come a point where other nations of the world do not want to borrow any more U.S. money, and with Social Security reaching problems in less than a decade, we are in for some problems if we don’t start to reign in spending.  With the coming onslaught of liberal programs, however, I don’t see that happening.

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