A Washington official dares to tell the truth

“Washington is bankrupting future generations. The longer we wait to address the $9 trillion national debt and ongoing annual budget deficits, the more taxes our children and grandchildren will have to pay, says David M. Walker, comptroller general of the United States, head of the General Accountability Office and just about the only public official in Washington these days telling the truth about the country’s fiscal situation. We’re basically taxing future generations without representation (because they can’t vote or haven’t been born), which he says is immoral. ”

Jay Hancock at the Baltimore Sun gives details on  the “Fiscal Wake Up Tour” undertaken by the Comptroller General to warn about the coming financial disaster. Excerpts from Mr. Walker’s comments include:

Walker: President Bush’s Medicare drug plan and the way it was sold to Congress and the public was “unconscionable.” The true, $8 trillion pricetag “was never calculated, disclosed or debated.”

Walker: The $9 trillion national debt is much more important than the budget deficit. Through the miracle of compound interest on the debt, he says, it will eat up more and more of the country’s resources.

Walker: The wars in Iraq and Afghanistan are “going to cost $2 trillion by the time we’re done.” [They’re up to around half a trillion now.]

Full report http://tinyurl.com/3av5qu