“Everybody to stand up and say, ‘deal’s off, we’re going to fix the country. We know we’re all going to get fired. It’s okay, let’s go do it.’ That’s the honorable thing except we don’t have much honor here because people are refusing to address the very real problems that will undermine the core values of this country,” Sen. Coburn said.
Senator Tom Coburn
Senator Tom Coburn (R-OK) believes that unless the U.S. gets its fiscal house in order, the financial and economic repercussions will be severe.
“How long do you think before the United States has a financial meltdown?” the Daily Caller’s Nicholas Ballasy asks.
“Two to five years,” Sen. Coburn responds without hesitating.
“Think about what will happen to us. We have $16 trillion worth of debt right now and we’re paying less than 2 percent on that debt — that’s 4 percentage points less than our historical average for our debt,” he said, adding that he is confident interest rates will “come back up.”
“In 2022, less than 10 years from now, unless we make major changes that everybody’s saying they know has to be made but none of the politicians have the courage to make, the entire federal budget will be made of only three things: interest, Medicare and Social Security, nothing else,” he added.
Watch Sen. Coburn’s interview with the Daily Caller:
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