Senator Tom Coburn (R-OK) predicts ‘apocalyptic pain,’ 15%-18% unemployment and a destroyed middle class if we do not get the Nation’s spending under control quickly.
Coburn says he is waiting to see if Obama helps with the critical mission of cost-cutting: “Will he help us fix the problems that are created by the new healthcare [ObamaCare] bill?”
Coburn said he didn’t believe the lame-duck Congress got the message from voters on reining in spending, and that this next Congress should chart a much different course.
“There’s well over $300 billion a year that I can lay out for you in detail that most Americans believe we should eliminate,” he said, though it “remains to be seen” how much the 112th Congress will slash.
“There will not be one American that will not be called to sacrifice,” Coburn said. “Those who are well-to-do will be called to sacrifice to a greater extent.” …
Coburn said that about $50 billion a year could be cut without “truly” impacting anyone by eliminating repetitive programs and bureaucracies, such as 105 separate programs encouraging science and technology careers.
Coburn says this term in Congress will be his last, and his goal is “to do the right thing for our country.” Unfortunately for Coburn, he likely knows Obama will not come to the table on ObamaCare. The President has been clear that he will sacrifice nothing in his patient-killing-ode-to-Obama health care program.
Some say our “real” unemployment is already at 15 percent. In November 2010, Labor Bureau stats show 9.8 percent unemployment. The fact is, we cannot trust government statistics. The Labor Department’s statistics do not include the underemployed and those who have quit looking for jobs. In June 2010, MSN reported the real unemployment rate was probably 16.6 percent, rather than the reported 9.7 percent. Economic Logic has some interesting data on the method of management used to report the unemployed.
Our future is in the hands of Congress. What a terrifying place in history for Americans. If you are not terrified, you are ignorant about our country. Wake-up, get a grip and encourage Congress to keep everything on the table, and stop the spending now.