WARNER VA. SAYS DEFICIT, DEBT RIVAL TERRORISM

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

WHich is virtually ALL of them.

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

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

Play again later

Sounds like a good place to start

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

What's the problem here?

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...