U.S. Standard of Living Unsustainable Without Drastic Action - David Walker
David Walker, former Comptroller General of the United States was, in my opinion, the only government official appointed within the last couple decades that was truly qualified for his position. He has been stating for years that the government is an ever-growing titanic headed for a large debt iceberg. When he left the GAO I was devastated because now this administration is practically devoid of a sensible voice when it comes to our fiscal policy. There are a few dissendents but they are either too quiet for they are being completely ignored. He continues to discuss America's fiscal situation but I doubt anyone is really listening.I would think people would listen to the man who used to be responsible for preparing the Government's financial statements. If I could vote this guy as Comptroller General again I would. I think he would make a great cabinet member.
In this interview he discusses the $50 trillion in unfunded liabilities and roughly $62 trillion in total long term debt. He explains that there are tough decisions to be made if America is to truly get back on its feet. Its a good interview and like every tech ticker, pretty short.
See the interview here: U.S. Standard of Living Unsustainable Without Drastic Action