Bloomberg: Economic crisis could lead to riots

Photo: AP

New York City Mayor Michael Bloomberg warns that there could be rioting if Washington does not take steps to improve the economy.

“We have a lot of kids graduating college [who] can’t find jobs,” Bloomberg said on his weekly radio show with WOR’s John Gambling. “That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.”

Protesters in Cairo toppled Egyptian president Hosni Mubarak this year. Last month, Spanish protesters in Madrid clashed with police before a visit by Pope Benedict XVI. (RELATED: Anti-corporatists to ‘occupy Wall Street’ for ‘Tahrir moment’)

Bloomberg, a Republican-turned-independent, says both parties are to blame for the nation’s economic situation, but praised Obama for getting “some ideas on the table” with his jobs plan.

“Now everybody’s got to sit down and say ‘we’re actually gonna do something,’ and you have to do something on both the revenue and the expense side,” he added.

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