David Walker Quits GAO 5 Years Early!

Recently I learned that David Walker of the GAO has quit. This is significant since he was and still is the head of the GAO making him America's chief accountant. While Walker has not left under a flare of protest, he did mention that he attained all of his goals except for one.

The goal he has not attained, was one aimed at Congress to limit spending and take its accounting seriously. He was so frustrated with Congress and their avoidance of the spending issue that he took his message to the public. In his own words, and after many speaking engagements Walker has said that Americans are hungry for "two things, the truth and leadership."

One point worth mentioning here is that Walkers economic calculations show a dismal economic future for America some 20 years from now. They do not specifically take into consideration the market malaise of today. With these factors added it is my belief, that grossly irresponsible monetary policy, wars, and a brutal business climate, sadly could hasten Walkers reality 5 to 10 years early. Jobs, Gold and the value of the Dollar all need to be watched in addition to deficit spending if we are to get a true thumbnail picture of what lies ahead.

One other point to add is that Walkers debt figures are Federal only, these do not include our state debt mired at 14.7 Billion and local debt in our towns and municipalities. When these figures are added together the picture of America's economic future crosses the line into an insurmountable problem that can only be solved through courageous leadership and drastic reform. It will take a special breed of politician, and a very informed public who must be willing to accept that only hard choices will be available. Some doubt that Americans will make the financial concessions, and consequentially will only elect politicians that have no way of delivering on their public spending promises.

While I am very disappointed by Walkers exodus into a public venture, Walker has said he will fight to get Congress, and our next President, to get serious about Americas financial future. The below video was shot over six months ago and it encapsulates his message most eloquently. Although the video is old the message is still new and the same. Enjoy it, and share it freely.