David Walker: "The United States Is On The Same Path To Bankruptcy As Greece" (VIDEO)

Video:  David Walker on Bloomberg -- Feb. 16, 2010

David Walker, chief executive officer at Peter G. Peterson Foundation and a former U.S. comptroller general, talks with Bloomberg's Peter Cook about the U.S. budget deficit.  Walker also discusses Greece's debt crisis and outlook for budget cuts.  Straight truth from Walker.  Do not miss.

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(Screenshot...video is above)

Comments

[RecoverylessRecovery]

I like David Walker. He's our national equivalent of the crusty and fiscally-sane uncle that's always chiding the kids for not being financially responsible and for their thriftless ways.

And the average American is our national equivalent of the irresponsible and heedless kid that's got shit for brains and thinks that they know better.

[TaxHome]

It would be wonderful if Americans with common sense like David Walker, Paul Volker and Elizabeth Warren were put on a commission to help reign in this country's current debauchery of debt creation. As an accountant I have noticed that there are income statement driven people and balance sheet driven people. The past 25 years has been ruled by the income statement as the net worth of our nation keeps getting smaller and smaller and our debt keeps getting bigger and bigger.This orgy of spending and debt must stop.

[Winston]

He says these measures must be taken within two years after saying that we should first wait for an economic recovery corner to be turned. There won't be an economic recovery corner within two years. Five to ten is more likely. And even then, the measures he says are required will not be taken until they are forced by an economic collapse just like Greece because they'd be political suicide.

[DailyBail]

interesting thoughts from all 3 of you....like winston i think there's no real recovery coming for quite awhile...maybe a decade...

well said taxhome...

As an accountant I have noticed that there are income statement driven people and balance sheet driven people. The past 25 years has been ruled by the income statement as the net worth of our nation keeps getting smaller and smaller and our debt keeps getting bigger and bigger.This orgy of spending and debt must stop.