Judd Gregg: U.S. Too Broke for EU - The American Spectator | USA News and Politics
Judd Gregg: U.S. Too Broke for EU

Sen. Judd Gregg, the New Hampshire Republican who nearly became President Obama’s secretary of commerce, said today that the United States couldn’t join the European Union because our deficit and debt levels are too high:

“We won’t even be able to get into the EU if we wanted to,” the Hill quotes Gregg as saying on MSNBC, “because our government is so large and so huge.”

The European Union’s Stability and Growth Pact requires a budget deficit of less than 3 percent of GDP and a national debt of less than 60 percent. The Congressional Budget Office is forecasting larger deficits than this under the Obama budget in the coming years.

“We’ve been lectured by France on the fact that we’re not fiscally responsible right now,” Gregg said. In other words, the United States has managed to go broke even before adopting a European-style welfare state.

Sign Up to receive Our Latest Updates! Register

Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://thespectator.com/world.

Be a Free Market Loving Patriot. Subscribe Today!