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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

AFP [1]
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.

Full article here [1]

House Majority Leader: Greek debt crisis ‘can happen here’ 190110banner4 [2]

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URLs in this post:

[1] AFP: http://rawstory.com/2010/03/hoyer-greek-debt-crisis/

[2] Image: http://www.prisonplanet.tv

[3] 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

[4] 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

[5] 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

[6] 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

[7] 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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