April 13, 2011
Senator John McCain (R-Ariz.) said that “unless we enact draconian measures,” America is headed for a “fiscal meltdown.”
“We are at a critical juncture in American history that unless we enact draconian measures, then the results are very obvious, and that is a fiscal meltdown. No country can borrow 40 cents out of every dollar it spends – even the largest and most powerful nation in the world. No nation can continue on that track. So, tough medicine is required,” McCain said during a press conference at the U.S. Capitol on Tuesday.
McCain said the United States faces a fiscal situation similar to Greece, Spain and Ireland.
This article was posted: Wednesday, April 13, 2011 at 8:00 am