Las Cruces – Warning of serious consequences if no action is taken, former Sen. Pete Domenici says it's time to resolve the federal government's huge debt.
The 78-year-old Domenici, who retired in 2009, spoke Wednesday at a public policy conference at New Mexico State University.
Domenici says continued federal debt could cause the United States to "cease to be a powerful force in the world." He says children who were promised a great life would probably have "a second-rate standard of living" because the country is getting poorer.
Domenici fielded questions from former ABC newsman Sam Donaldson. Domenici says he's working as part of a bipartisan think tank panel in Washington, D.C., that will release a plan in upcoming months to address the debt problem.
Information from: Las Cruces Sun-News, http://www.lcsun-news.com
Copyright 2010 The Associated Press.