"The Ghosts of Christmas Past, Present and Future" haunt the Capitol, and if they are ignored it could spell economic ruin for the nation, said the junior senator from Mississippi, as reported by the Memphis, Tenn., Commercial Appeal on Tuesday.

Christmas Past represents the Founders' vision of the Senate "to slow action to let passions cool," but Wicker said the cooling and slowing had been taken to "an extreme in Washington" lately.

The Ghost of Christmas Present is represented by the challenges facing the Social Security program and "a federal government [that is] taking in $202 trillion a year but is going to spend $307 trillion over the next year," he said. 

The Christmas yet to come is represented by the euro crisis, Wicker said.

"To see Christmas yet to come, look across the ocean," he said. “Greece's government has fallen, Italy's in trouble, Portugal and Spain are teetering and the banks in Berlin, the strongest in Europe, are under stress.

"Scrooge begged the Ghost of Christmas Future to tell him, 'Are these the shadows of things that will be, or the shadows of things that may be?' " Wicker said.