Former Sen. Gregg: Debt Crisis Forces Fiscal Responsibility

Monday, 23 May 2011 02:15 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
A crisis over the government’s $14.3 trillion debt ceiling sounds ominous. But it may be just what the doctor ordered to make the country’s leaders put fiscal policy back in order, says former Sen. Judd Gregg, R-N.H.

“The federal government, which since the end of World War II has spent an average of 19.8 percent of gross domestic product, is this year going to spend 24 percent,” he writes on The Hill. “That number will rise to 26 or 27 percent over the next seven years . . . It is unsustainable.”

Washington has an obligation to correct this mess. “If the only way our government can be forced to act is in crisis, then let’s not increase the debt ceiling,” Gregg writes. “Let’s have the crisis and let’s move this nation toward actions that will result in real long-term improvements to our fiscal health.”


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Quinnipiac Poll: Florida Governor's Race in Dead Heat

Wednesday, 22 Oct 2014 08:42 AM

Following two highly acrimonious debates between Republican Florida Gov. Rick Scott and his Democratic opponent, former  . . .

Obama's Campaign Efforts Worry Democrats

Wednesday, 22 Oct 2014 07:23 AM

While some Democratic senatorial candidates are distancing themselves from President Obama, worried that his support on  . . .

Desperate Democrats Drafting Hillary Clinton to Boost Races Ahead of 2016

Wednesday, 22 Oct 2014 06:47 AM

Hillary Clinton is used to being introduced as the next US president. But lacking any pre-2016 announcement, the Democ . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved