Home > Political, Politics, Pre Pulse Ramblings > U.S. could be on path to a ‘banana republic’ situation

U.S. could be on path to a ‘banana republic’ situation


“This deficit is driven by us,” New Hampshire Republican Sen. Judd Gregg candidly said Sunday on CNN’s State of the Union when asked about the federal government’s projected $1.42 trillion operating deficit for the 2009 fiscal year.

“You talk about systemic risk. The systemic risk today is the Congress of the United States,“ the Ranking Republican on the Senate Budget Committee told CNN Chief National Correspondent John King, “that we’re creating these massive debts which we’re passing on to our children. We’re going to undermine fundamentally the quality of life for our children by doing this.”

via CNN Political Ticker: All politics, all the time Blog Archive – Gregg: U.S. could be on path to a ‘banana republic’ situation « – Blogs from CNN.com.

Standards of living will start to drop?  They already have.  Gregg is one of the few who look at this situation in terms of what we are doing to our children.  I believe they will look back at this time with disgust.

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