Monday, November 16, 2009

Obamacare: "The debt is the threat"

Sen. Judd Gregg (R–NH), on CNN’s State of the Union, explains why the potential debt from Obamacare is threatening to bankrupt America. According to Sen. Gregg, Obamacare will “end up massively expanding the size of government.” He said we are heading to third world status because of debt. Sen. Kent Conrad (D-ND) quipped that “the debt is the threat.”

From the video, Sen. Judd Gregg said,
“If we continue to add to this debt at the rate we’re adding to it, we’re going to bankrupt our country. We’re headed toward third- class status. I mean, the world is telling us that already, when you look at what’s happening with the dollar and when you look at what the Chinese are saying, when you look at what Moody’s is saying about our bond rating.”

“We’re in serious trouble in this country because we’re just spending too much money and now we’re talking about adding another $1 trillion of spending on top of it, or $3 trillion.”

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