‘Stability of US economy at risk’

The stability of the US economy is at risk and the US treasury cannot keep up with government spending, director of the Council on Hemispheric Affairs said in an interview with Press TV.

“The US economy is being severely tested by multiple funding programs, wars in Afghanistan, massive aid programs in Pakistan, and so forth. Obviously the US treasury cannot keep this up on a sustainable basis, without severe inflationary pressures coming in,” Larry Birns said.

He further added that the Obama administration has been a great disappointment to its supporters who felt that he was really going to bring change and was going to symbolize hope, however he has not done that, and Americans have the second epic of the Bush presidency, rather than a brand new presidency.

Birns, when asked about US Republican presidential candidate Ron Paul’s statement that the “US economy is bankrupt,” answered that “Ron Paul, is running for the presidency, and unfortunately his campaign has not really taken off. It is a very flamboyant statement and it is meant to capture the attention of the voters.”