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GAO: The Status Quo Is Unsustainable

C-Span's Friday Washington Journal had on David Walker, U.S. Comptroller of the GAO on to discuss two recent reports, one on recommendations for 1

C-Span's Friday Washington Journal had on David Walker, U.S. Comptroller of the GAO on to discuss two recent reports, one on recommendations for 110th Congress Targets for Oversight and Global War on Terror Costs (both .pdf. You can watch archives of the show here.

Walker was fairly scathing in his assessment of how things are going for the country fiscally. The GAO has produced videos with their assessment that you can download here. It's a lot of information to take in. When they start to toss out estimates in the TRILLIONS, my mind started to reel.

From the video on America's Fiscal Future:

...And even if we're able to constrain discretionary spending for the next ten years to the rate of inflation, which we haven't for a long time, we still face large and growing structural deficits in the years ahead. Bottom line? The status quo is unacceptable and unsustainable. We're on an imprudent and unsustainable fiscal path. Tough choices are required. We will not be able to grow our way out of this problem. Anybody who says that suffers from two problems. Number one, they have not studied economic history adequately; and number two; they probably wouldn't do real well at math. Because the numbers just don't add up.

It's clear from the strength of the language used that Walker feels that this is not being taken seriously at any level. How much coverage do you suppose the mainstream media will give it?

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