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WASHINGTON — A former U.S. senator is warning that America is headed toward a financial “crash” unless D.C. politicians begin making hard choices about its debt.
Former U.S. Sen. Tom Coburn (R.-Okla.), who served two terms in the Senate and three in the House, made the comments Monday on radio on the “Laura Ingraham Show.”
“There’s no urgency” to fix America’s debt problems, Coburn said, “because very few people have a correct understanding of what’s happening to us”
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“If you take total debt, right now, we’re over 240 percent of our GDP,” he said, referencing the gross domestic product, a phrase that represents the total dollar value of goods and services in a nation. “If you take real government debt – debt that has to be paid back by the millennials – we’re at about 180 percent.
“There’s no country that’s ever survived that.”
Coburn believes Trump would “make the hard choices,” but Congress won’t.
“We’re going to crash unless we start making the hard choices, and Congress refuses to make the hard choices,” he said. “… But you have career politicians on both sides who refuse to make the hard choices because it might affect their political career. Well, what about our kids?”
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