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US Government Is Unaffordable and Unsustainable, Says David Walker


 -- Published: Friday, 28 March 2014 | Print  | Disqus 

By Casey Research

Former Comptroller General of the United States David Walker talks about the trouble with Obamacare and the sky-high national debt… how much to spend on national defense… and outlines his top 3 reforms to fix the US government.

Want more insightful talk on your money and investments? Subscribe now to Sound Money in your email, in iTunes, or via RSS. Email iTunes RSS

Here are a few highlights:

“America can definitely be made great again. It’s not too late, but what we need is a wakeup call, a call to action and a specific course correction to try to be able to make sure that we don’t repeat history.”

“President Obama promised … that he was going to be a uniter rather than a divider, and unfortunately, he hasn’t done that. Our financial condition today is much worse than when President Obama took office. Frankly, from George Washington, who was our first president, to William Jefferson Clinton, who was our 42nd president, we only accumulated $5.5 trillion in debt—and now we’re up to $17.5 trillion.”

“The government is going to always do more for the poor, for the disabled, and for the military, but … promises way too much and it subsidizes way too many people, and the result of that is that it creates a system that is unaffordable and unsustainable.”

“What a lot of people don’t realize is built into the Affordable Care Act, is a bailout provision for insurance companies. So that taxpayers are probably going to be on the hook for, you know, some large payments due to meet those guarantees.”


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 -- Published: Friday, 28 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

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