COOPER DEMANDS ANSWERS FROM GREENSPAN ON FISCAL CRISIS
WASHINGTON-At a House Oversight and Government Reform Committee hearing this morning, U.S. Congressman Jim Cooper questioned former Federal Reserve Chairman Alan Greenspan, SEC Chairman Christopher Cox and former Treasury Secretary John Snow about their efforts to prevent an even bigger fiscal crisis that threatens to overwhelm America with debt.
Brandishing a copy of the official Financial Report of the United States Government, Cooper explained the $54 trillion fiscal gap America faces if the government doesn't change course.
"Why is this document so hidden? Because it contains such bad news," Cooper said to the witnesses. "On your watch, did you do anything to publicize this report, to make sure that everybody in America knew the real story about the real numbers for America?"
Cooper also demonstrated that Cox, who professes concern about the long-term fiscal shortfall, doesn't even know how big it is. Video of the questioning can be found here. Cooper's appearance on CNBC this morning can be found here.