Skip to comments.Video: Tom Coburn predicts 18% unemployment rate, destruction of middle class
Posted on 12/27/2010 4:30:18 AM PST by Suvroc10
Tom Coburn predicts 18% unemployment rate, total destruction of middle class. On an appearance on Fox News Sunday, one of the Senates strongest voices against wasteful spending and earmarks, Senator Tom Coburn, again warned against massive and continuous government spending under the Obama Administration. Prompted by host Chris Wallace, who said that Coburn scares him quite often, to give specific predictions about where the US would be if government spending isnt meaningfully curtailed, Coburn let loose with the specifics. According to Coburn, if the US doesnt get serious about cutting spending, the US will see an 18% unemployment rate (not including those whove stopped looking for work), a decline of GDP by 9%, and the destruction of the US middle class. He also said that the poorest of the poor would be hurt the most.
(Excerpt) Read more at examiner.com ...
... and will likely be even more inclined to vote for Democrats as a result. Sigh.
Chris Wallace scared?
Is he not deeply in bed with Mitt Romney?
Chris Wallace is liberal flying under the radar at Fox News. The apple doesn’t fall far from the left leaning tree.
What makes him so optimistic? That would be the best case scenario.
Yeah, but Obama got his stash that he will redistribute to all of us poor folks!
>>if government spending isnt meaningfully curtailed<<
Translation: Cut whole departments - Energy, Education, HHS - AND agencies - TSA, EPA, OSHA - AND policies - DeathCare, CHIP-RA, Medicaid - AND unfunded mandates - NCLB, ESL, Real ID.
How - easy, defund them. Pass a budget killing these sinkholes of OUR money and dare the Senate and 0bambi to kill it.
In the light of this interview, everyone here should try to read THE 5000 YEAR LEAP by W. Cleon Skousen..I got a copy for Christmas and cannot put it down. Education such as this demonstrates what our politicians have done to our system of government over the years. Senator Coburn’s Apocolyptic fears may prove to be prophetic if the unconstitutional actions and the illegal regulations coming from our government are not overturned and repealed. The FCC and the EPA, especially need to be reigned in immediately. Homeland Security must not be allowed to oppress us and take or freedom as it looks like they are trying to do. Where is the Congress? Where are our check and balances?
That’s a real danger. When the civil society dissolves, when it is largely destroyed by hyperinflation and unemployment, in which direction shall the people turn?
Will they turn to Liberty or Tyranny? Will they demand a return to the Constitutional principles that made the US the exception to world history or will they demand that a strong man “do something?”
I hope for the best but anticipate the worst.
I say we're heading toward feudalism.
Why is this a ‘prediction’??
We already have unemployment in that range right now if you consider the people that would like to be employed but have quit looking.
The gov’t stats are used to make things look better than they really are. If Bush were in office the press would focus on that 17-18% number and ignore the official 9.8% statistic.
if we honestly evaluated unemployment, we are about 18% right now, unemployment doesn’t count self employed, so why is he so optimistic?? Seems to me that 25-30% unemployment and massive inflation of basic necessities is the real problem coming, and fast.
Coburn’s right and the really scary part is what chance do you think there is that the US government will meaningfully decrease spending? How about zero?
Liberal? Got any specifics? Frankly, I’ve been impressed with Chris, especially his willingness to ask really tough questions. Don’t confuse him with his Dad.
Now, Shep Smith is a liberal.
This is why I think our first targets should be te regulatory agencies that kill jobs. Once we start doing things that really encourage job creation we can start picking away at the entitlements.
There are no checks and balnces, this is a communist run government under the obamanation of desolation for America. The man is a sociaopath and may wind up pulling a Hugo Chavez before the next election.
Too busy padding their own pockets.....
I always thought Wallace was pretty neutral. Who, in your opinion, is okay at Fox?
I think this is optimistic considering the unemployment rate during the Great Depression hovered around 24%. We are not facing a depression, but a hyper-inflationary recession which will be far worst. And besides, who really believes the statistics put out by the government?
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