Guest Blogger: Rep. Hal Rogers (R-KY) on Reining in Government Spending

Rep. Hal Rogers / June 11, 2010

At a hearing in March I asked Secretary Tim Geithner whether the US was at risk for losing our AAA credit rating, as a Moody’s quarterly report had indicated.  He point blank responded that there is “not a chance” that this would happen to our country.  I wish I could share his confidence, but given how things have unraveled in the past few months, I believe that America needs to take a step back and seriously reevaluate the way the government does business these days.

While the Administration pushed through a failed stimulus bill, continued the mantra of “too big to fail” and lobbied for bailout after bailout for private companies, something was happening to our friends in Greece.  All the spending, entitlement programs, and massive debt began to catch up with that government and would soon spur panic across the globe.

In April, one month after I questioned Secretary Geithner, Moody’s downgraded Greece’s credit rating because of its deficit, debt, and lavish spending.  Sound familiar? (more…)