WARNER VA. SAYS DEFICIT, DEBT RIVAL TERRORISM

[sasha031]

Sen. Mark Warner believes the U.S. deficit and debt problem is as serious a threat as terrorism.

"It's the most important issue of our day," Warner said yesterday, speaking to a group of Stafford business leaders and ManTech International employees at the Stafford security firm. "This is as big a threat as communism, fascism, as big as terrorism. This is real, this is imminent."

Warner, a former governor in his first term as senator, has been working for months as part of a bipartisan group of six senators trying to craft a solution to the growing national debt and deficit.

At yesterday's meeting, he explained why the issue is such a threat.

If the U.S. continues on its current path, he said, the interest on the current $14 trillion in debt will skyrocket--to around $10 billion a year by 2050, and $80 billion by 2080. Those interest payments will put a squeeze on domestic discretionary spending on items like education and infrastructure--things that are essential for America to compete with other countries, Warner said.

And if nothing changes, the U.S. within several years will have as great a debt burden as a percentage of the GDP as countries like Greece--which is bankrupt.

"We are on a trajectory that is going to be, basically, we're driving over a cliff," Warner said.
http://fredericksburg.com/News/FLS/2011/052011/05142011/626546

[bobbolink]

1. Except, of course, when it is the Republicans who run up the deficit.

WHich is virtually ALL of them.

[sasha031]

2. I am so sick of bluedogs, GOP light

[hollowdweller]

3. Very Tired of Warner

Sort of liked him orignally but more and more he's come off to me as an corporate shill.

[FLAprogressive]

6. +1

[Drale]

4. Well he's kind of right

The deficit was created by a bunch of terrorists and war criminals.

[elleng]

7. Yes it was, and its here and getting worse.

[Proud Liberal Dem]

5. Ummmm.........no

Play again later

[Angry Dragon]

8. Is he really calling for the arrest of little bush??

Sounds like a good place to start

[JDPriestly]

9. So, tax the rich at the levels at which they were taxed in the 1990s

(during Clinton's administration), and pay down the debt.

What's the problem here?

[Ramulux]

10. Warner is a conservadem scumbag

[Blue_Tires]

11. Of course he represents VA, so he'll never have the stones to propose cutting military spending

And of course to keep the Chamber of Commerce jerkoffs' votes, he thinks slashing an already low corporate tax rate to I guess zero, will magically balance the out-of-control deficit (the majority of elected officials here always seem to believe this)...

I know I had to vote for him over the alternatives over the years, but FFS he is a greasy corporate chameleon dick...