The former U.S. Controller General David M. Walker served 1998 to 2008. He has been warning us for several years that there is danger in our growing financial and other challenges facing government at all levels; federal, state and local. He said, "we are in a crisis of fiscal insanity because of unfunded entitlements and something must be done, now."
We have a National Unfunded Debt of nearly $100 trillion ($311,000 per every man, woman and child), and our fiscal debt of $17 trillion ($51,000 per every man woman and child in the USA). Government officials Paul Volcker under Jimmy Carter, and adviser to Obama stated, "we are heading for a train wreck if we don't get our spending under control." A Chief of the congressional Budget Office, Doug Elmendorf said government spending is unsustainable.
Forbes survey of the 400 wealthiest people in America, states, that they are worth a total of $2.02 trillion. With all their wealth, we still are a long way from solving this debt crisis. Both major political parties caused this crisis. Tax policy, regulation, waste, fraud, corruption and reckless spending are examples. It is time to replace the entrenched politicians and elect new fiscal conservatives such as Senators Mike Lee, Ted Cruz, Marco Rubio, Paul Ryan and Representatives Rand Paul and Jason Chaffets. We need knowledgeable people. Democrats: Debt Commission member Erskine Bowles, economist Alice Riblin and former Senator Evan Bayh are examples.
We owe David Walker gratitude for his tireless efforts to educate politicians and the electorate on our growing financial challenges. We hear a lot about our fiscal debt but Detroit is an example of how unfunded debt can bankrupt.
Get involved for your children, grandchildren and country.