November 11, 2015

According to Ex-GAO Head Here’s How Big The Debt REALLY Is

Ex-Government Accountability Office head Dave Walker has a serious warning about United States national debt.
Walker was the head of the GAO under Presidents Clinton and Bush, and has stated that when you add up all of the nation’s unfunded liabilities, our debt is exponentially higher than the $18T that is often stated.
“If you end up adding to that $18.5 trillion the unfunded civilian and military pensions and retiree healthcare, the additional underfunding for Social Security, the additional underfunding for Medicare, various commitments and contingencies that the federal government has, the real number is about $65 trillion rather than $18 trillion, and it’s growing automatically absent reforms,” Walker told host John Catsimatidis on “The Cats Roundtable” on New York’s AM-970 in an interview airing Sunday.
Walker, who was in charge of making sure the government’s spending was fiscally responsible, said that the ballooning national debt can and will hinder both domestic and foreign policies.
“If you don’t keep your economy strong, and that means to be able to generate more jobs and opportunities, you’re not going to be strong internationally with regard to foreign policy, you’re not going to be able to invest what you need to invest in national defense and homeland security, and ultimately you’re not going to be able to provide the kind of social safety net that we need in this country.”

He called for both sides, Republicans and Democrats, to put aside partisan politics and work together to solve a problem that affects everyone, regardless of political opinions.
“You can be a Democrat, you can be a Republican, you can be unaffiliated, you can be whatever you want, but your duty of loyalty needs to be to country rather than to party, and we need to solve some of the large, known, and growing problems that we have,” he said.
Does this frighten you?

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