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Oklahoma Senator Tom Coburn Offers Dire View Of Economy

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U.S. Senator Tom Coburn [file photo] U.S. Senator Tom Coburn [file photo] and Associated Press

WASHINGTON -- Republican Oklahoma Senator Tom Coburn says we need to slash federal spending if we want to avoid the financial meltdown that has plagued Ireland and Greece.

Coburn offered his grim view on the country's future while speaking on Fox News Sunday.

"I think it three of four years if we have not made the critical changes we need to make...I think the confidence in our economy and in our currency will be undermined significantly," Coburn said.

Coburn says all Americans must make sacrifices to secure the country's fiscal future.

He says we must cut hundreds of billions from the budget in wasteful spending or face the consequences.

12/20/2010 Related Story: Sen. Coburn Puts Optima Lake Project On Most Wasteful List

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