Coburn predicts 'apocalyptic pain' if spending isn't reined in now

Apocalyptic Pain and Picasso: Sunday with Tom Coburn
Apocalyptic Pain and Picasso by digby Tom Coburn put on quite a show today with Chris Wallace and everyone should pay attention: Senate Republicans' "Dr. No" spending hawk warned Sunday that America would experience "apocalyptic pain" with 15-18 percent Unemployment and the "Middle Class destroyed" if it didn't get its fiscal house in order. "If we don't fix the problems in front of us everybody's going to pay a significant price," Sen. Tom Coburn (R-Okla.) said on "Fox News Sunday." Coburn ...

Coburn: Control Government Spending or Face 'Apocalyptic Pain' (Faux)
Source: Fox News "Apocalyptic pain" from an out-of-control Debt could cause 18 percent Unemployment and a massive contraction in The Economy that would destroy the Middle Class, a leading Republican Deficit hawk said in an interview that aired Sunday. Sen. Tom Coburn, R-Okla., who recently issued a report on government waste, warned that the U.S. only has about three or four years to get its fiscal house in order or it could find itself facing Austerity measures seen in Greece, Ireland, Spain, P...

Coburn: Get ready for "apocalyptic pain"
Sen. Tom Coburn (R-Okla.) warned Sunday of "apocalyptic pain" if the government does not change course on its spending patterns. "I told you the other evening, if we didn't take some pain now, we're going to experience apocalyptic pain. And it's going to be out of control. The idea should be we should control it," Coburn told Chris Wallace of "Fox News Sunday." "We're not taking seriously the very real and urgent threat that will undermine the standard of liv...

Sen. Coburn: Cut spending or face apocalyptic pain
Stumble This! Congress needs to cut spending now or face fiscal Armageddon later, one senator warned Sunday. Appearing on Fox News Sunday, Sen. Tom Coburn (R-OK) predicted "apocalyptic pain" if Congress does not enact major Spending Cuts. "If we don't fix the problems in front of us everybody's going to pay a significant price," Coburn told host Chris Wallace. The senator predicted that the US could face an economic crisis like the ones in Greece and Spain if changes aren't made soon. "I think ...

Tom Coburn Preaches Austerity For Thee, But Not For He: Cut spending or face 'apocalyptic pain'
It's the growing meme throughout the traditional media and newly "fiscally responsible" Republican Party: we must prepare for Austerity. In fact, Sen. Tom Coburn is so sure that we must make deep, painful cuts (to the middle and lower classes, naturally) to protect the next generation that he warns of "apocalyptic pain" if we don't. I told you the other evening that if we didn't take some pain now, we're going to experience apocalyptic pain, and it's going to be out of our control. The idea shou...

Coburn predicts apocalyptic pain if spending isnt reined in now
Senate Republicans’ “Dr. No” spending hawk warned Sunday that America would experience “apocalyptic pain” with 15-18 percent Unemployment and the “Middle Class destroyed” if it didn’t get its fiscal house in order. “If we don’t fix the problems in front of us everybody’s going to pay a significant price,” Sen. Tom Coburn (R-Okla.) said on “Fox News Sunday.”...

Zadroga bill: I'm fine being bad guy if it saves U.S., Sen. Coburn says
WASHINGTON - The Oklahoma senator who tried to scuttle the 9/11 health bill insists he wanted to wring out unnecessary costs, not deny benefits to seriously ill First Responders. Republican Tom Coburn, the Senate's most relentless foe of excessive federal spending, told "Fox News Sunday" legislators must be willing to make politically unpopular decisions to avoid fiscal disaster for the country - like 15%-18% Unemployment. "Just like on the 9/11 bill this last week," Coburn said. "I took all t...

Coburn: Fix the Economy or the Middle Class will be Destroyed
A rare bird serves this country in the United States Senate.  Republican Tom Coburn (R-OK) has no designs on making a career out of politics and has flatly stated that this, his Second Term in office, will be his last.  He’s a fiscal conservative and draws the ire of free-spending Democrats on a daily basis.  They call him “Dr. No” because he refuses to spend the people’s money as if it grows on trees.  He’s also wise enough to consider the ramif...

Sen. Coburn: Apocalyptic Pain Coming If Government Spending Not Controlled Now
Senator Tom Coburn appeared on Fox News Sunday and sounded the alarm bills for out of control Government Spending and how the nation’s Debt very well could be the end of the American way of life as we know it. Coburn’s rare bluntness might be related to the fact that he also announced he will strictly adhere to a self-imposed limit and not run for re-election in 2016 after he completes his Second Term as Senator. Therefore, since he never needs to face the voters again, he doesnR...

Coburn: If spending is not under control, we'll face 'apocalyptic pain'
- Jennifer of Cubachi Senator Tom Coburn was on Fox News Sunday, and had a dire warning for the incoming Congress.  If they don't put their fiscal house in order, we can see 'apocalyptic pain' in the likes of Greece in a few years. ...

Senator Coburn (R-OK) warns of 'apocalyptic pain' without spending cuts (Video)
One of the leading Republican Senators sounded some serious alarm bells over the Christmas weekend concerning the dangers of the federal Deficit.  In his interview on Fox News Sunday Senator Tom Coburn (R-OK) made a number of ominous predictions for the American Economy if spending is not cut to reduce the Deficit. "I think you'll see a 15 to 18 percent Unemployment Rate. I think you will see an 8 to 9 percent decline in GDP. I think you'll see the Middle Class just destroyed if we don't do...

Eurozone reform moves: deep revamp or just tinkering?
A currency exchange worker holds a handful of Euro notes in London. The eur... The Eurozone Debt crisis has shaken the foundations of the single currency alliance. Its leaders are now weighing measures that could either herald a far-reaching operational re-vamp or simply a modest tinkering. Emergency or temporary Bailouts for Euro states struggling with huge debts and gaping public Deficits have given way to a permanent rescue mechanism. At the same time, Eurozone leaders have begun to talk ab...

Tom Coburn: 'Apocalyptic Pain' Could Result If Spending Isn't Controlled
The Hill: Senate Republicans' "Dr. No" spending hawk warned Sunday that America would experience "apocalyptic pain" with 15-18 percent Unemployment and the "Middle Class destroyed" if it didn't get its fiscal house in order. Read the whole story: The Hill Get HuffPost Politics On Twitter and Facebook! Subscribe to the HuffPost Hill newsletter! Know something we don't? E-mail us at [email protected] ...

Coburn: 'Apocalyptic pain' if debt is not brought under control
My friend Larry Jackson of Political Realities posted this video of U.S. Sen. Tom Coburn (R-Muskogee) on Fox News Sunday, discussing the danger that our National Debt poses to America's fiscal future. I recommend watching the interview. Side note: I think Dr. Coburn's new beard is growing on me... ...

Coburn: Get Ready for 'Apocalyptic Pain'
Sen. Tom Coburn warned Sunday of "apocalyptic pain" if the government does not change course on its spending patterns. "I told you the other evening, if we didn't take some pain now, we're going to experience apocalyptic pain. And it's going to be out of control. The idea should be we should control it," Coburn told Chris Wallace of "Fox News Sunday." He added, "We're not taking seriously the very real and urgent threat that will undermine the standard of living in this country." You must login ...

Sen. Coburn rallies U.S. for spending cuts
WASHINGTON, Dec. 26 (UPI) -- Cutting the U.S. Budget Deficit can be accomplished in part through eliminating duplicate government programs, Sen. Tom Coburn, R-Okla., said Sunday. Speaking on Fox News Sunday, Coburn said there were plenty of instances in which multiple agencies and bureaucracies ran programs that were essentially the same and could be whittled down without significant pain. Coburn recently released a book called "Waste Book 2010" listing a number of Earmarks and spending programs...

What's next in the Eurozone financial crisis
Reporting from London — For a year now, the once-mighty euro has lurched from crisis to crisis as Debt-ridden Greece and then Ireland were forced to ask their neighbors to bail them out of Financial Trouble. The fear now is that fellow Eurozone members Portugal, Spain and Italy, which also have large Budget Deficits, will follow suit. Borrowing costs for these countries have skyrocketed even as they scramble to pass harsh Austerity plans to convince investors of their commitment to cutt...

Coburn Sees Dire Scenario If Debt Isnt Cut
By WSJ Staff The U.S. could face 15% to 18% Unemployment and a decline in economic output of up to 9% if political leaders in the coming years don’t make cuts to spending and slash the National Debt, according to Sen. Tom Coburn (R., Okla.). “I think you’ll see the Middle Class just destroyed if we don’t do this,” Mr. Coburn said on “Fox News Sunday.” Mr. Coburn said international confidence in the U.S. economy and currency would be undermined if the na...

Move over IMF (USA): China offers to bail out Eurozone countries
© AFP/Getty Images Pledge: Chinese Premier Wen Jiabao offered to buy Greek bonds in October and the country has also agreed to buy out Portuguese Debt China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund. In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important areas for China's foreign exchange investments. The country has already approached struggling European...

Spanish auto sector wraps up bleak year
Spain's auto sector, a key source of jobs, is wrapping up a disastrous year due to a slump in demand from the rest of Europe and the end of a government trade-in Bonus scheme at home. Sales of new cars in the country plunged 25.5 percent in November over the same period last year to 64,515 units, the fifth monthly decline in a row, according to figures from manufacturers' association Anfac. While total sales in the first 11 months of the year are up 5.9 percent to 913,073 units, this is due to s...

Spanish auto sector sector wraps up bleak year
Sales of new cars in the country plunged 25.5 percent in November over the same period last year to 64,515 units, the fifth monthly decline in a row, according to figures from manufacturers' association Anfac. While total sales in the first 11 months of the year are up 5.9 percent to 913,073 units, this is due to strong sales during the beginning of the year before the government pulled the plug on the subsidies programme in June. Under the trade-in scheme introduced in May 2009, the governmen...

Estonia's euro joy dampened by EU debt crisis
Despite a hellish year for the euro, the tiny Baltic nation of Estonia will be joining the single currency club as the champagne corks pop at midnight on New Year's Eve. Estonia will become the Eurozone's 17th member and instantly claim the mantle of the poorest as well as one of the smallest — representing just over one-tenth of a percent of the bloc's $12.5 Trillion economy. But Estonia's membership carries symbolic value, it is hoped, demonstrating that Europe's grandest financial proje...

Republican senator offers dire view of economy
Republican Sen. Tom Coburn says confidence in the country's economy and currency will be "undermined significantly" in the next several years if the government doesn't find a way to cut federal spending. Coburn says the U.S. must begin to chip away at the country's huge Debt and slash hundreds of billions from the Budget in wasteful spending or face the kind of severe fiscal crisis that has plagued Ireland and Greece. Coburn says all Americans must make sacrifices to secure the country's fiscal ...

Coburn: Cut spending now
Sen. Tom Coburn (R-Okla), citing the potential "apocalyptic pain" without cuts into the burgeoning federal Deficit, says it's time for President Barack Obama to step up and lead the way. Coburn was one of three GOP senators to vote earlier this month in favor of the failed plan devised by the president's Debt panel and has made a name for himself in the Senate as a key objector to new spending. But Sunday the Oklahoma Republican warned about the dire economic straits America could f...

Not quite the jaguars just yet
Ayear ago, in the aftermath of the worst Recession in 80 years, I was optimistic about Latin America's significant economic transformation. For the first time ever an international Financial Crisis had not thrown the region into a tailspin. Many countries not only survived the crisis but were recovering stronger and faster than many other regions. You could even say they were roaring out of recession. At the time I did warn that World Bank projections indicated that the crisis could push eight m...