Walker: Real U.S. Debt is $70 Trillion

Walker: Real U.S. Debt is $70 Trillion

The United States government is filled with career politicians who could care less about the fiscal solvency of the nation, said former U.S. Comptroller General David Walker at the East Hartford Chamber of Commerce.  The Connecticut News Junkie reports that Mr. Walker, a resident of Connecticut, recently returned from a “fiscal responsibility bus tour”.  He gave what many called a sobering talk about the fiscal state of the American economy.

One of his more astonishing statements was his claim that the real national debt is not $16 trillion, but $70 trillion.  The $70 trillion comes from unfunded liabilities.  Walker, a Clinton appointee, said that “The biggest deficit we have in this country is a leadership deficit,” something that he has said before.

Among his suggestions for getting the debt under control was broadening the tax base while simultaneously lowering rates to 25% for individuals, corporations, and estates.

For more on Walker, check out the Connecticut News Junkie.

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