David Walker: It is time to confront fiscal failure
David Walker is a former Comptroller General of the United States (head of the U.S. Government Accountability Office) and past board member of the Committee for a Responsible Federal Budget. He recently wrote an opinion piece for The Hill, an excerpt of which is below:
It has been widely acknowledged that the federal government has lost control of our national finances. Deficits are approaching $1 trillion every year, about 70 percent of the budget is on autopilot, total public debt now exceeds $22 trillion, and total public debt to gross domestic product has almost doubled from 54 percent at the end of calendar 2000 to around 105 percent at the end of calendar 2018, and it continues to rise further.
Read the entire piece here.
"My Views" are works published by members or staff of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members or staff of the Committee.