Monday, October 22, 2012

The Death Sprial's "Chronicaller"

...he described Washington's infamous unfunded mandates, most of them in
the form of future entitlement spending, as the "federal government's
financial sinkhole"

At the University of North Carolina, to an audience mostly consisting of
certified public accountants, he amplified on the dimensions of this
sinkhole: "It's $70.8 trillion, going up 10 million a minute, a hundred
billion a week," he said. "So the federal financial sinkhole is much
bigger than the politicians admit. It's growing rapidly by them doing
nothing, and they've become very adept at doing nothing."

Dave Walker fashions himself as a non-partisan, which is accurate
enough, but a better way to understand what he's doing is to see his
criticisms as bipartisan -- i.e., they offer no solace for Republicans
or Democrats. The budgetary obligations represented by Obamacare, he
believes, are their own separate sinkhole. Yet defense spending has to
be on the table, he insists, along with every other GOP sacred cow. The
U.S. military budget, he points out, exceeds the combined expenditures
of China, Russia, France, Great Britain, Japan, India and Germany.

http://www.realclearpolitics.com/articles/2012/10/10/david_walker_for_pr
esident_115731-2.html

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