The country faces trillions of dollars of debt; a number that is growing by the minute.
“Our problem is so tough you can’t grow your way out, you can’t tax your way out, you can’t cut your way out , you can’t inflate your way out,” said Dave Walker. As former US Comptroller General, Dave Walker headed the government accounting office. He was in charge of managing the government’s budget, under four presidents.
Now, Walker is on a 33 day bus tour across the county to talk about the government’s budget, what it looks like in the future and potential solutions to the growing problem. On Wednesday, Walker brought his experience to the Drake University Campus in Des Moines.
“The financial condition of the United States is a lot worse than the politicians are saying. Its getting worse rapidly, 10 million a minute, by doing nothing, we`re not exempt from the laws of prudent finance, we could have a debt crisis like Greece and other and countries if we don`t start making tough choices,” explained Walker, “A lot of politicians think that the American people can’t handle the truth, they’re not willing to except tough choices and we`re proving that to be false.”
“In an election year we see all the different campaign information about different views on the budget and what’s happening on the budget, this provides a very unbiased kind of nice safe spot to go in ask questions without having the political rhetoric tied to it,” said Tom Root, Associate Professor of Finance in the College of Business at Drake.
Walker hopes to reach and educate as many people as possible on this tour, but has a special message for those of the younger generation: “Young people need to understand their future is being mortgaged at record rates, investments in their future are being cut an d they`re going to face a lot tougher competition, until they end up becoming more informed an involved that`s going to continue to happen,” said Walker.
The next stop on the tour is Denver, and then Vegas.
For more information on the bus tour, click here.