Monday, April 28, 2008
Former U.S. Comptroller speaks at UTD
First rule of holes (ignored by Washington, says speaker): "when you're in a hole, stop digging."
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On Friday, April 25, former U.S. Comptroller David Walker spoke at the University of Texas at Dallas before an audience of area business leaders to deliver the message that - unless we pull our economic policy heads out of the sand - our growing national budget deficit will end up leaving future generations of Americans in serious financial straits.
Ross Perot introduced Walker as "an economic patriot." During his talk, Walker noted that the U.S. has been deeply in debt before (during wartime), but has typically paid down the debt quickly. After the 1970's, he says, that paying down part of the process fell out of favor and remains so. He stated that the looming retirement of baby boomers - who will be dipping at unprecedented levels into both the Social Security and Medicare programs - poses a massive and insurmountable problem, given current governmental economic attitudes.
Said Debby Bosselman, president of event sponsor CEO Netweavers: “At this time of unprecedented economic uncertainties, it is particularly timely for our members and their colleagues to hear David Walker’s inside insights on our country’s financial realities and the impact it will have on future generations.”
For a video of Walker's address, go here. (Video will open in Windows Media Player or other external ap.)
posted by JM
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