The Honorable David M. Walker, Comptroller General of the United States, has been loud and clear in warning Congress, the administration, academia, and the public that the US economic situation requires urgent and radical measures. “The status quo is not an option.”
Comptroller Walker points out that balancing the federal budget in 2040 would require either (a) cutting total federal spending by 60%, or (b) doubling current federal taxes. The fiscal burden for each full-time worker in the US is a staggering $400,000. As a nation we must act to cut our reckless spending and burgeoning debt.
It seems to me that he will not be too happy about the new “fiscal stimulus” plans.
Comptroller Walker’s power point presentation “Saving Our Future Requires Tough Choices Today” given in 12/2007 is linked above. Please comment.