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House Majority Leader: Greek debt crisis ‘can happen here’
Posted By admin On March 2, 2010 @ 5:39 am In Featured Stories | Comments Disabled
March 2, 2010
The United States must embrace a blend of tax increases and spending cuts to rein in its deficit or face a potentially crippling debt crisis like the one in Greece, a top US lawmaker warned Monday.
“It is enough to look across the Atlantic at Greece’s extreme economic crisis and understand: It can happen here. If we don’t change course, it will happen here,” said Democratic House Majority Leader Steny Hoyer.
Hoyer, a close White House ally, said Democrats and Republicans in the US Congress must take the politically tough decisions needed to deflate the ballooning US deficit and tackle record-high US debt.
“It seems to me that the only solution that can win the support of both parties is a balanced approach: one that cuts some spending and raises some revenue while avoiding extremes in either direction,” he said.
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URLs in this post:
 AFP: http://rawstory.com/2010/03/hoyer-greek-debt-crisis/
 Image: http://www.prisonplanet.tv
 House rejects debt ceiling bill in ‘political charade’: http://www.prisonplanet.com/house-rejects-debt-ceiling-bill-in-%e2%80%98political-charade%e2%80%99.html
 Steny Hoyer: The Debt Limit ‘Is Not Real’: http://www.prisonplanet.com/steny-hoyer-the-debt-limit-%e2%80%98is-not-real%e2%80%99.html
 The Scary Truth About Greek Austerity: It Will Make The Country’s Debt Crisis Worse: http://www.prisonplanet.com/the-scary-truth-about-greek-austerity-it-will-make-the-countrys-debt-crisis-worse.html
 The Greek Debt Crisis Escalates: Is Greece Threatening To Leave The Euro?: http://www.prisonplanet.com/the-greek-debt-crisis-escalates-is-greece-threatening-to-leave-the-euro.html
 Europe warned of financial chaos over Greek debt crisis: http://www.prisonplanet.com/europe-warned-of-financial-chaos-over-greek-debt-crisis.html
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