Statement from Sentaor Boucher regarding Re: debt crisis

August 8, 2011

“This critical moment in the world’s financial market has been coming for some time with or without a Standard and Poor’s US Debt downgrading. It is also a teachable moment of gigantic proportion. Australia, New Zealand and Norway all have debt of less than 48% of GDP compared to 77% UK, 79% Germany and 95% US ( now approaching 100% according to AFP), – the very countries expected to lead the way out of the problem. A family, a state and a country cannot keep spending more than it takes in. It is time for governments to face the music, cut back to essential services and allow the marketplace to recover.”

State Senator Toni Boucher