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« CFPB Head Richard Cordray Explains New Mortgage Rules | Main | Fed's Plosser On The Trillion Dollar Coin, 'Bernanke's Inflationary Policy' »
Thursday
Jan242013

David Walker: "There Is No Party Of Fiscal Responsibility In Washington"

David Walker on Bloomberg a few weeks ago.

'Time is running out and the future of the country is at stake.'

The original budgetary truth teller.  David Walker is the former Comptroller General of the United States (the nation's top independent accountant) and is the current President of the non-partisan Comeback America Initiative.

Walker recently wrote a deficit op-ed for Reuters:

"It is alarming enough that our federal debt has surpassed $16 trillion.  But we have actually dug a fiscal hole of more than $71 trillion when you consider our unfunded Medicare, Social Security and other retirement obligations.  This amount goes up more than $100 billion a week on autopilot."

---

Dallas Fed President Richard Fisher calculated that the government's unfunded liability for Social Security and Medicare alone comes to a staggering $99.2 trillion, or $330,000 for every man, woman, and child in the United States.

It's an impossible figure, but still on the low side compared to this estimate of $222 trillion published at Bloomberg.

The national debt has grown by $6 trillion since the Spender-In-Chief took office, and four more $1 trillion deficits are on the way before Obankster leaves Washington in 2016.

Check the debt clock and decide for yourself.  Is there anything, anything at all, that appears 'under control' to you? 

---

Bonus - David Walker with Jon Stewart.

"There is no party of fiscal responsibility in Washington."

"When the statutory budget controls expired in 2002, Washington lost total control.  Unfunded tax cuts, unfunded war costs, expansion of entitlement benefits.  And we are where we are today."

 

David Walker On The Debt Deal: "U.S. Is 3 Years Away From Being Greece, Congress Dealt With $2T Of A $61T Problem"

 

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Reader Comments (14)

Dec 19, 2012 at 1:57 AM | Registered CommenterDailyBail
The Truth About the Comeback America Initiative

http://www.huffingtonpost.com/david-m-walker/the-truth-about_b_1865336.html

Written by Walker. Worth a read.
Dec 19, 2012 at 1:59 AM | Registered CommenterDailyBail
The famous 60 Minutes where he said the US was bankrupt.

http://www.youtube.com/watch?v=U19_OkPRggE
Dec 19, 2012 at 1:59 AM | Registered CommenterDailyBail
David Walker On The Debt Deal: "U.S. Is 3 Years Away From Being Greece, Congress Dealt With $2T Of A $61T Problem"

http://dailybail.com/home/david-walker-on-the-debt-deal-us-is-3-years-away-from-being.html

Great interview with Joe Kernen on Squawk Box
Dec 19, 2012 at 2:00 AM | Registered CommenterDailyBail
I would be surprised of Obama has actually read any book...
Dec 19, 2012 at 12:57 PM | Unregistered Commenterbaggins
Walker shines again...wish this guy had his own pulpit every day, prime time. Maybe folks will start listening!
Dec 19, 2012 at 2:23 PM | Unregistered CommenterJosie
When you say "we," as in, "We have dug a fiscal hole" and run up trillions of dollars of debt, you don't mean "we." Our insane government embezzled our Social Security funds. Our insane government has been giving away the Treasury from pallets of cash sent to Iraq and "lost," to the unending bailout of the banks, to the utterly corrupt military industrial complex setting fire to every dollar out in the desert and asking endlessly for more, more more, in this undeclared wars.

And how is this "our" debt?
Dec 19, 2012 at 2:51 PM | Unregistered CommenterTanya
Tanya, Don't forget the pallets of money that go to Afghanistan. Billions according to the Wall St. Journal.
Dec 19, 2012 at 4:34 PM | Unregistered CommenterSKINFLINT
Walker is right. It is not their money, so the mewling vermin of congress do not care. Look at them all dressed up. They still believe the crap their mothers used to tell them about being 'special'. No wonder they bought billions of rounds of killer hollow point ammunition for the molesters over at DHS and TSA.
Dec 19, 2012 at 7:35 PM | Unregistered CommenterHoward T. Lewis III
Amen to that.
Jan 17, 2013 at 6:18 AM | Unregistered CommenterS. Gompers
Such a tactful omission of the billions poured into the bank bailouts...
Jan 17, 2013 at 1:17 PM | Unregistered CommenterSoopercali
No surprise here. Fiscal responsibility and mewling vermin seldom cross paths. Good thing David Walker came to town.
Jan 17, 2013 at 5:11 PM | Unregistered CommenterHoward T. Lewis III
How dense can we be? Spending results from, not need, but campaign bribes!
Feb 2, 2013 at 11:52 AM | Unregistered CommenterJack Lohman

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