Warnings from US Comptroller General

David M. Walker, GAO Chief is in a rare position to speak out and he's doing it.

He is in a rare position due to the fact that his job is good till 2013, he doesn't have to face the voters or the whim of the sitting powers that be. So he's opening his mouth with some serious warnings about our fiscal future.

Source

What they don't talk about is a dirty little secret everyone in Washington knows, or at least should. The vast majority of economists and budget analysts agree: The ship of state is on a disastrous course, and will founder on the reefs of economic disaster if nothing is done to correct it.

He's saying what the politicians won't and it deserves a good read, especially now.

"You can't solve a problem until the majority of the people believe you have a problem that needs to be solved," Walker says.

He also is taking on this crusade in a very non-biased bipartisan manner.

To show that the looming fiscal crisis is not a partisan issue, he brings along economists and budget analysts from across the political spectrum. In Austin, he's accompanied by Diane Lim Rogers, a liberal economist from the Brookings Institution, and Alison Acosta Fraser, director of the Roe Institute for Economic Policy Studies at the Heritage Foundation, a conservative think tank.

Wish we could run him for President.

[edit on 10/28/2006 by Relentless]

But the last six years of Republican rule have produced tax cuts, record spending increases and a Medicare prescription drug plan that has been widely criticized as fiscally unsound. When President Clinton faced a Republican Congress during the 1990s, spending limits and other legislative tools helped produce a surplus

The above statement says it all apart from making the Republican party seem like a bunch of idiots its points towards the US government going bankrupt at some point in the future. Interest rates can go up as many home owners find out you have to make allowances for rate rises. If anybody adopted the US governments approach to running any kind of business the business would go bankrupt with in six months. Plus you would question the intelligence of the person who ran the business.

Its because of the World Bank that were in this problem. If you want to blame anyone...blame them... and Bush too, he hasn't helped either.

here's a bit of an update, 2007. makes you wounder what we going though is exactly what he and RP are screaming about...

reply to post by xpert11


I am waiting for the "everything is right except that it was Clinton's fault, not Bush" crowd.

They are coming...