Senator Judd Gregg: The US Is Facing Bankruptcy (Video)

No wonder he didn’t want the Commerce Secretary job…
Senator Judd Gregg (R-NH), former Commerce Secretary nominee, told Sean Hannity on Thursday that the US is facing bankruptcy because of the historic debt that is facing future generations:

Senator Gregg: This budget does nothing to get under control what I call the fiscal tsunami which is this huge cost that is coming at our country and specifically at the next generation to support my generation as we retire. And it will basically overwhelm our children and our grand children… Basically, it will bankrupt our country… The spending in this budget expands. In my opinion there is excessive spending on the entitlement side which is where we should have savings rather than new spending. And, of course, there is a lot of new taxes here about 1.4 trillion dollars.

Sean Hannity: Senator, you say it is going to bankrupt the country…

Senator Gregg: It is going to bankrupt the country.

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