Fiscal Reason
David Walker the comptroller general is an advocate of fiscal reason and has brought public attention to government waste and inaction on our financial crisis. He recently announced his resignation, to join a foundation focusing on critical issues that are affecting this country.
Walker said: “I've accomplished all but one the objectives I set out for myself in 1998 and the last objective is to try to help get the Congress to make some tough choices about the challenges that face the future of America. Hopefully, I’m actually going to have more flexibility and more discretionary resources by partnering with the Peter G. Peterson’s new foundation.
Former commerce secretary, Peter G. Peterson is a long-standing advocate for fiscal prudence and has pledged at least a billion dollars over the next several years, which should make a difference.
Comptroller General, David Walker has sought to focus public attention on difficult issues. He has tried to analyze, understand and discuss with Congress unfunded liabilities, the infectiveness and waste in government. Walker has repeatedly pointed out that our government has gotten us into a $53 trillion hole. About $9 trillion of that debt we already have, however $44 trillion are unfunded promises for Social Security and Medicare. The hole gets deeper by, as much as, $3 trillion a year by doing nothing.
Warren Buffett one of the wealthiest men in the world suggested that Congress increase the taxable base above the present $90,000, because he pays very little in the way of Social Security taxes.
The Congressional Budget Office states that our wars could cost $2.4 trillion through the next decade. That figure includes more than $700 billion in interest, since these wars are being fought on borrowed money and more than 70 percent of this money is going to the war in Iraq.
Walker said: “I've accomplished all but one the objectives I set out for myself in 1998 and the last objective is to try to help get the Congress to make some tough choices about the challenges that face the future of America. Hopefully, I’m actually going to have more flexibility and more discretionary resources by partnering with the Peter G. Peterson’s new foundation.
Former commerce secretary, Peter G. Peterson is a long-standing advocate for fiscal prudence and has pledged at least a billion dollars over the next several years, which should make a difference.
Comptroller General, David Walker has sought to focus public attention on difficult issues. He has tried to analyze, understand and discuss with Congress unfunded liabilities, the infectiveness and waste in government. Walker has repeatedly pointed out that our government has gotten us into a $53 trillion hole. About $9 trillion of that debt we already have, however $44 trillion are unfunded promises for Social Security and Medicare. The hole gets deeper by, as much as, $3 trillion a year by doing nothing.
Warren Buffett one of the wealthiest men in the world suggested that Congress increase the taxable base above the present $90,000, because he pays very little in the way of Social Security taxes.
The Congressional Budget Office states that our wars could cost $2.4 trillion through the next decade. That figure includes more than $700 billion in interest, since these wars are being fought on borrowed money and more than 70 percent of this money is going to the war in Iraq.
posted by Jim O'Leary | 12:05 AM
0 Comments:
Post a Comment
<< Home