Wikinvest Wire

David Walker on the national debt

Wednesday, February 17, 2010

David Walker, former U.S. Comptroller General and current head of the Peter G. Peterson Foundation, talks with Bloomberg about the U.S. budget deficit and the mounting debt.


Americans should consider themselves fortunate that there are people like Walker around who will continue to try to raise the level of awareness on this issue. Then again, just hearing about "trillion dollar deficits" over and over on the news does a pretty good job too.

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6 comments:

Anonymous said...

The farcical Peter G. Peterson foundation publicly wrings its hands about deficits only in narrow ways that suit the specific interests of its owners. The foundation obsesses about 'entitlement reform', yet has not a word to say about the bloated obscenity of US military spending.

simplesimon said...

Anonymous 2-17-10 9:48 pm

Do you have something to back up the claim that the "farcical" PGP says nothing about military spending?

I went to their web site after reading your comment and read everything I could find. I find several references therein to the need to review "ALL SPENDING" by the feds.

"All spending" would include the military budget unless specifically excluded. I can't find any such exclusion in their web site.

The main focus of the PGP web site seems to be on health care reform at the moment but I can't find any focus on entitlement programs in general to the exclusion of the military.

Everyone's main focus these days seems to be on health care reform so I can hardly conclude the PGP Foundation is a farce based on their concern about that issue.

The man in the video mentions social security reform. It's commonly known that Social Security is going to come up short some day and it is a major concern for any thinking person.

I would think that every group works on issues 'that suit the specific interests of its owners.' For example, the NRA works on gun issues and NARAL works on abortion issues, etc.

It's not much of an indictment to say that a group works on issues that interest it. In fact, I'd say it's tautological.

Again, without some hard evidence that the PGP group is trying to mislead or misinform people for some nefarious or ulterior purpose, negative comments such yours appear to be based on some emotional bias you have against PGP for some undisclosed (or unrealized?) reason.

I'm glad some people are willing to raise an alarm about the federal budget, the federal debt and constant deficit spending. Aren't you?

Anonymous said...

Increasingly, I feel that we are just re-arranging the deck chairs on the Titanic.

Anonymous said...

Its that stupid Keynesian spending stuff that is creating the problem. First the central bank promoted too much private sector debt. When the private sector debt got so high that they couldn't repay, the Keynesians demanded that the public debt be moved into the unrepayable range.

Its nothing but a bunch of spendthrifts using outdated theories to justify wanton waste. Along side of them are printers who want to steal people's pensions, and loan the loot to spendthrifts.

The modern paradox of thrift. China saves, so the bank demands that the US become a hopeless beggar to balance China's saving. The bank is destroying the country by promoting all of this pointless debt.

Anonymous said...

Does anyone doubt that eight years of mindless spending on the Iraq and Afghanistan wars ( Trillions )
along with mindless greed on Wall Street as well as mindless gridlock among shortsighted politicians have converged to put America on the verge of becoming a second rate nation. Anyone who follows David Walker knows that his is a voice of sanity in a country whose political system is dysfunctional.

Anonymous said...

Does anyone doubt that eight years of mindless spending on the Iraq and Afghanistan wars ( Trillions )
along with mindless greed on Wall Street as well as mindless gridlock among shortsighted politicians have converged to put America on the verge of becoming a second rate nation. Anyone who follows David Walker knows that his is a voice of sanity in a country whose political system is dysfunctional.

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