ELKHART — Former U.S. Sen. Evan Bayh said the U.S. faces dire consequences if the government continues running huge deficits.

Bayh, who spoke Thursday to a record crowd at the 2012 Greater Elkhart Chamber of Commerce’s annual meeting, warned that if the federal government continues to operate on trillion-dollar deficits, then the U.S. could have to deal with the consequences that are facing European countries right now.

“We’re going to become Greece,” he said. “You can’t escape market reality forever.”

Bayh also forecast lower levels of consumer spending in the domestic economy. It will take several years for shoppers to return to normal levels, he said.“It’s not going to be as bad as it’s been, but I don’t think it’s going to be as good,” Bayh said.

Speaking about November’s presidential election, Bayh compared to it to the 2004 race between George W. Bush and Democrat John Kerry. He did not endorse a specific candidate.

“It’s going to be very close,” he said. “And it’s going to be very negative.”

After speaking, he opened the floor to the public. One member said that if Bayh had not voted for Obamacare, the bill would not have passed. He asked why Bayh made that choice.

Bayh defended his decision, but said that he went back and forth on it until the end. Healthcare costs had become too high, and Bayh said he wanted to find a way to keep it affordable. He acknowledged that there were things he did not approve about the bill.

“Attempting to do something, if flawed, would be better than doing nothing,” he said.

Another question from the public was on immigration. Opposing amnesty, Bayh said, “You can’t condone lawbreaking.”

However, he mentioned that many immigrants were doing work that Americans would not do.

“If people want to come here and obey the law and pay taxes, God bless them,” he said.

Despite the pessimistic tone of his speech, Bayh remained optimistic about the future of America. He challenged people to remember their forefathers and how they got through tough times.

“It’s in our DNA to tackle these problems,” he said.

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