GAO Chief David M. Walker “has committed to touring the nation through the 2008 elections, talking to anybody who will listen about the fiscal black hole Washington has dug itself,” according to Matt Crenson of My Way in GAO Chief Warns Economic Disaster Looms . It is a grim reinforcement of many other arguments I have read about the economic future this country is headed for.
Walker is clearly grounded in the reality that neither American voters or their elected representatives are willing to face this ugly vision of “the “demographic tsunami” that will come when the baby boom generation begins retiring and the recklessness of borrowing money from foreign lenders to pay for the operation of the U.S. government.” His goal is to enlighten enough of them by the 11/08 election to “ensure that any serious candidate for the presidency in 2008 will be forced to deal with the issue,”. He didn’t mention the competence #44 will need to deal with it effectively.
The only thing I want to do today is highlight the article – I doubt there is much I could add to it. This year’s elections are too close, in days and poll numbers, to do much more. But it certainly is a mission we should join on 11/8/06. As Walker notes “The best we’re going to get in the next couple of years is to slow the bleeding.” The more Democratic seats we have in Congress, the better our chances to cut the blood loss.