The United States is “a crossroads both domestically and internationally,” U.S. Sen. Tom Coburn told a political forum Monday, hosted by the Sand Springs Area Chamber of Commerce.
“For the last 15 years we known that Fannie Mae and Freddy Mac were out of control,” he said, referring to the national mortgage foreclosure crisis.
Looking at the energy crisis, he said “Our national security is being threatened by our dependence on foreign oil.”
Asked by an audience member about that dependence, Coburn said the United States has access to more than a trillion barrels of oil off-shore, in protected areas, and oil shale.
Those sources needs to be tapped now because the switch to more environmentally-friendly energy is 20 to 25 years away, he said.
Looking at the economy, Coburn said the next financial is looming.
“Financially, our way of life is going to be threatened,” he said, pointing out the country is 10 trillion dollars in debt.
“Now is the time to start fixing it,” he said.