Sunday, November 8, 2015

Walker's Wilderness

In a big country, dreams stay with you
Like a lover's voice fires the mountainside
Stay alive
--Big Country

Years ago, former head of the General Accounting Office David Walker launched a campaign to increase public awareness about fiscal responsibility in the US. He's still at it. As in the past, he observes that unfunded liabilities substantially increase the 'headline' federal debt number.

Today's $18.5 trillion in federal debt is really closer to $65 trillion when future social security and health care liabilities are factored in.

Like a few other voices in the wilderness, people heed not his message.

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