The Public Eye: David Walker - Comeback America

Guest: David Walker,former Comptroller General of the United States
Title:Comeback America

As comptroller general of the United States and head of the Government Accountability Office (GAO)—"the nation's top auditor"—Walker warned Congress and the Clinton and Bush administrations as the federal surplus became a giant deficit. As president and CEO of the Peter G. Peterson Foundation, he now works full-time to raise public awareness regarding mounting debt burdens being imposed on future generations. Comeback America is his crucial manifesto, a way for President Obama to end out-of-control government spending and reform our tax, retirement,
health care, defense, and other systems—before it's too late.

Walker believes that by 2030, absent significant reforms to current government programs and policies, federal taxes could double from current levels, meaning less money and poorer education for kids—which will hurt families along with our nation's economic strength and position in the
world. If our foreign creditors—such as China—decide to buy fewer of our Treasury bonds, interest rates will rise and cars and homes will become less affordable.