Louisiana Republican Rep. John Fleming told The Daily Caller that, ever since President Barack Obama’s re-election last Tuesday, he has been advising Americans to play it safe financially because he believes the economy — and the state of the country — may soon get much worse.
Fleming said he’s telling concerned constituents and business owners to “not extend yourselves in debt, make sure that you pay off things, don’t get into debt with credit cards, stay as liquid as possible. Don’t take risk, and don’t get into debt. You need to stay less vulnerable economically over the next two to four years, in hopes that the economy will sort itself out, and that Washington will get its act together.”
Fleming said he thinks the presidential election was hardly a mandate for Obama’s liberal policies, or a populist rejection of Republicans’ conservative ideals.
“I think always, when you have a candidate promising free stuff, and another promising less stuff or nothing, the one who promises more is always going to have the advantage,” he said. “The problem is that we’ve been doing that for about five decades, and it’s getting us into serious trouble.”
Ultimately, Fleming said he believes the rising national debt is analogous to “reaching into the next generation” and “taxing kids who aren’t even born yet,” and must be addressed. “That’s really what we’re dealing with,” he said, adding that if it isn’t fixed, it’ll “backfire on the American people.” (RELATED: Federal debt per household skyrockets in last three years)
After Obama’s re-election, Fleming said now it looks like “the American people chose to continue down that road, despite the fact that we have other countries ahead of us, like Greece, that are suffering massively.”
“It looks like we’re going to have to go through the same or similar pain [as Greece] to get real reforms,” Fleming said.
If America doesn’t band together to halt America’s fiscal woes, Fleming said, “what’s going to happen is there’s going to be a day of reckoning that gets into a serious situation where we have to make tough choices.”