Thursday, March 26, 2009

Judd Gregg: U.S. Couldn't Even Join EU Due to Debt Levels

I'm so glad Sen. Gregg stayed in Congress instead of selling his soul to the devil.

He's already said Obama's Budget will bankrupt the nation and that the White House's math is a "spurious" lie.

Gregg is widely respected for his fiscal opinions and Obama himself gives Gregg's comments a sense of stinging credibility. When the president introduced Gregg as his nominee for Commerce Secretary last month, he said Gregg is known for is fiscal discipline.

From The Hill:

The United States wouldn't even be eligible to enter the European Union if it wanted to because of its debt levels, Sen. Judd Gregg (R-N.H.) claimed Thursday.

"We won't even be able to get into the EU if we wanted to," Gregg said this morning on MSNBC, "because our government is so large and so huge."

The European Union's Stability and Growth Pact (SGP) adopted in 1997 requires a budget deficit to be less than three percent, and requires a national debt beneath 60 percent of Gross Domestic Product (GDP).

"We've been lectured by France on the fact that we're not fiscally responsible right now," Gregg, the would-be commerce secretary, noted with incredulity.


It's never good when the French socialists are lecturing the U.S. about fiscal responsibility.

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1 comment:

  1. That's not the only EU rule we wouldn't be up to snuff on, either-

    But Slovakia, Romania, and even Bulgaria qualified no problem... good grief.