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Comments: 44

• #1

  Bob Dehlendorf (Thursday, 17 December 2009 17:24)

  Since a friend lent me a copy of Pete Peterson's book "Runing On Empty" and meeting Dave Walker in March, 2008 I have been an active supporter of both men. They need and deserve all the support they can achieve if the USA is to survive. As an Amherst educated economist, HBS graduate and with years of experience on the ground in DC we have no choice but to listen, learn and implement.

• #2

  Mark Locklear (Thursday, 17 December 2009 19:05)

  Without question, Dave Walker brings home the truth for all Americans. His insight, leadership, and battle cry for fiscal responsibility is the benchmark by which each legislator should live by. If you are going to read only one book regarding our current fiscal condition, make it this one.

• #3

  Peter Tremulis (Saturday, 19 December 2009 15:43)

  David continues to serve his country well by bringing the biggest threat to our nations leadership position in the world to the forefront for examination and debate. With the banks barely off the breathing tube, we are either going to be in a prolonged period of rehab or we will have a relapse and be back in intensive care at the cost of the US taxpayers.
  
  The perscription has been written by the good doctor, now we need the patient(s) in congress to take the medicine and commit to a fiscally responsible future.
  
  Best of luck with the new book and keep the pressure on the wound.

• #4

  M.H.Deal (Wednesday, 20 January 2010 12:28)

  It would be a superior book if it had an index. It's remarkable that in an age when indexing is less taxing than it used to be the publisher can't spring for an index. A book with an index and the same work without an index is like the the difference between lighting and a lighting bug. Mark Twain, I believe.

• #5

  S.K. Pappas (Friday, 29 January 2010 06:57)

  I heard Mr Walker on NPR and ordered his book a day before it was released. I had never heard anyone refer to the national debt as deferred taxes, but it the most true description I have ever heard given to it. I am about 75% through the book right now, I read it between work and study breaks from my college classes. It is an easy read and my only complaint is that it is light on the graphic details that are needed, it speaks only in generalities. Yet I realize that the problem is much too complex to explain and deal with in specific terms without alienating the people you are trying to educate. It is a very good starting resource for people that want to understand the problem and I will most likely order a few more copies for family and friends.
  
  That being said, as a real life socialist in the USA, I am not sure how much I can honestly trust you or some of the ideas you have put forth in your book. Yet I do know that I trust what you have said more than I trust anything I have heard from the DNC or GOP, at least since the Roosevelts had led the country for each respective party!
  
  There you have it, my personal pros and cons... Keep preaching Mr Walker! I only hope someone listens to enough of what you have to say so people will not refer to you forty years from now as a prophet that should of been listened to!

• #6

  Robert Smith (Monday, 01 February 2010 16:24)

  Healthcare Reform
  
  I just finished reading "Losing My Patience: Why I Quit the Medical Game" by Dr. Mickey Lebowitz and heard him speak at Barnes and Noble. He said that many doctors are leaving the profession and fewer are entering, especially as primary care physicians, as a result of the insurance/malpractice jungle. Even if were capable of reforming healthcare, we wouldn't have enough doctors/nurses anyway.
  
  Saving for Retirement
  
  Given today's financial, where could anyone possibly put their money so it would be available at retirement time?
  

• #7

  Dan Brown (Wednesday, 03 February 2010 11:54)

  " THE ANSWER " is under our ( US citizens ) feet, Natural Gas is an abundant commidity there is enough tapped and capped to fuel every home, vehicle, industry, for the next six decades, We the people own this commidity, with a simple conversion on every vehicle in America, and a mobile delivery service we will employ with good salaries ten million, we will use this American owned commidity to pay off the national deficit, and virtually eliminate foreign oil importation, and the carbon output of the converted vehicles is reduced by seventy percent. as we speak politicians are buying and leasing lands on and around all of OUR natural gas supplies, and blocking any attempts to get natural gas vehicles off the market. But Natural Gas promises to be the next big thing !!!

• #8

  Dan Brown (Wednesday, 03 February 2010 12:10)

  Give me the opportunity, and the backing,and within three months I can personally have everyone in America employed or heading toward employment with good salaries, and turn this temporary state of financial disaster into the largest most profitable year the United States has ever seen, Not" Joe the plumber",, "Dan the Gas Man",, get this to Obama and I guarantee we will be back on the right track in the USA overnight !!! Heck there will be enough left over to pay for the Health care plan !!!! browne26@comcast.net

• #9

  John H Holbrook (Saturday, 06 February 2010 00:31)

  Dear Mr. Walker,
  
  I enjoyed reading your book, and agree with most of your recommendations/analyses. I am a retired Professor of Medicine and as such have a greater understanding of healthcare issues, compared to other issues raised in the book.
  
  I thought that your chapter on “Curing Health Care” had a few problems. The example that you gave of your wife’s accident due to a fainting episode is open to several interpretations. Because the doctors didn’t know the cause of the episode, she was/is at risk to have another episode. A $20,000 bill to establish a correct diagnosis may have been a good use of funds. A few days in an ICU could run up a bill many times the diagnostic bill that she accrued. Without a diagnosis, there would still be concern about whether she should drive again or whether she should perform other activities that would be risky if she were to faint e.g. climbing a ladder. Perhaps your wife should have seen a physician with special expertise in evaluating fainting episodes (syncope).
  
  Another problem with your analysis is a common one found in critiques of the health care system i.e. using comparative international rankings for life expectancy, infant mortality, and obesity. These three parameters are not good surrogate markers for the quality of the system because they are so heavily influenced by confounding variables e.g. the personal behavior of Americans. Critics also fail to acknowledge that some of the advances that greatly enhance the quality of life of some Americans, do not impact life expectancy e.g. cataract surgery and total hip replacement. (Such procedures are much more accessible to the average American than citizens of other countries.)
  
  I hope that you find these thoughts helpful. With best regards
  

• #10

  Michael J Shields (Monday, 08 February 2010 18:27)

  If you prefer having your head in the sand to facing the truth, you will not like this book. The truth, in this case, does hurt. But if enough people read this book and join this fledgling and noble movement, maybe, just maybe, it will set us free!

• #11

  Don Barkman (Saturday, 13 February 2010 11:52)

  We have three long-term crises ahead of us:
  Government debt
  driven by entitlement program spending/tax cuts/war
  Energy
  Water.
  Each of these will arrive before climate change and all have much greater impact than terrorism. The problem is that they are just over the horizon -- out of sight and out of mind for most people.
  
  You are to be commended for tackling the fiscal problem.
  
  We also need to create the realization that there is no more oil or gas being made to replace what is being depleted ($4.00 gas will look cheap in 10 years). By sucking these commodities out of the earth, we are doing the same thing the government has done by living on deficits. There is only so much there whether it is oil in the ground or tax revenue in the economy. Water is in the same boat, although it does get some replenishment through the hydrologic cycle. However, we are drawing out groundwater faster than it is being refilled in the aquifers and the effect is the same as for oil and gas. Seventeen major agricultural states in the USA grow crops on land where the rainfall is insufficient to support the crop level. The difference comes from irrigation from transported or pumped water. We have only to look to Australia to see what happens when we overextend agriculture and population beyond the water resources. It may look like a drought, but it is really about being "tapped out." There are alternative forms of energy (wind, solar). There is no alternative form of water.
  
  We cannot run this country just to get through the next election. We cannot run it to get through the next decade (with apologies to 'Dan the Gas Man'). We must be thinking about the next century at least. We need a "Millenium Party" and not just a "Tea Party."
  
  A Native American business woman was quoted in Reader's Digest as saying her heritage taught her to take into account the effect on seven generations. Not a bad concept. Perhaps we should send her to Congress.

• #12

  Dr. H. Butler (Sunday, 14 February 2010 19:21)

  Can the country be run with neither inflation nor deflation?

• #13

  Thomas (Tuesday, 23 February 2010 10:41)

  Thanks Dave! Looking forward to the work ahead.

• #14

  Jim Hadley (Sunday, 28 February 2010 09:09)

  I am writing about the chart on page 92 and life expectancy. Included in the U S numbers are homicides, accidents and obesity, factors that are at best, tangentially related to the health care system. If someone hits a tree in their car and dies, it has nothing to do with the medical system. Some of the data differences in various countries are explained at www.biggovhealth.org the U S life expectancy would not be 25 out of 34 if the non health care items were excluded.
  Jim Hadley

• #15

  Brian Hamill (Sunday, 28 February 2010 19:14)

  From: Brian Hamill, Exton PA
  Dave,
  I thoroughly enjoyed reading your book and agree with almost every point you make. I am ready to join the movement.
  I did find one point at the end of your book a bit disconcerting. You advocate a debt level not to exceed 125% GDP which is almost 50% higher than the 85% debt level we currently hold.
  You made a very compelling case throughout the book that the current debt level is too high and will be going to critical levels as it climbs higher. I personnaly think 125% is much too high except in extreme cases (such as was the case in WW2). I would much rather see an ammendment that sets a maximum of somewhere around 50% GDP which must be achieved by 2020 and then sustained unless in times of war. I for one am not very happy with the interest I am now paying on the national debt and certainly am not willing to pay 50% higher interest payments in the future if I can help it. (With the emphasis on if I can help it)!!
  
  Great Job,
  
  Brian

• #16

  marcel l berube (Sunday, 07 March 2010 21:06)

  I can explain the book in few words do not spend what you do not have.

• #17

  Kevin Connors (Saturday, 27 March 2010 19:23)

  Your book is clear and right on target. Not sure the American people are ready to acctpt the challengs. But count me in.
  
  Keep it moving!
  
  Kevin Connors

• #18

  Richard Gitlin (Sunday, 28 March 2010 15:09)

  Would a third "Centrist" party, committed the fiscal reforms recommended in your book, make a difference?

• #19

  Cyril S Ofori (Sunday, 28 March 2010 16:33)

  Very succintly written.Perhaps should be distributed to congressional staff to read and discuss with their bosses. May be able to influence some change that way.

• #20

  Doris Schiller (Monday, 05 April 2010 17:07)

  I hope some of our politicians in power will read your book. You have some great ideas for getting our country back on track.

• #21

  Wally Rye (Monday, 19 April 2010 10:21)

  I just finished your book and concur with most of your observations. The proposals you make seem obvious and rational. However, I am pessimistic that our elected officials will ever take the long-term approach to governing "the peoples'" country. For them, the next election is the only time frame that matters. Our dysfunctional two party government will always be reactionary, waiting for a crisis to occur then finger-pointing. I do believe that we need a constitutional amendment that requires fiscal responsibility from our government. I also think the constitution should be amended to require a review periodically, perhaps every 50 years, to ensure that it keeps up to date with the changing times. Thank you David for being a voice of reason.

• #22

  Lloyd Browne (Wednesday, 12 May 2010 18:19)

  Dave Walker’s book is a good read and a great source for reliable economic information. Also, given my depressed prognosis for the future of America, it was somewhat uplifting to read that our Country may have a small chance of not becoming a third world nation in the not-to-distant future. I believe this country has become a corporate oligarchy that is turning our democracy into a kleptocracy. Unless major changes can be achieved in campaign funding, controlling the rewards to senior personnel in regulation agencies from corporations being regulated and better regulation of large capital institutions I have little hope.
  
  Walker correctly attacks our tax system for being too complex, unfair, and in need of reform. Bob N. (e-mail response #29) touts the Fair Tax bill as a means of reform and others push the flat tax. Most ideas that I have heard are perhaps better than the present IRS structure but still seem cumbersome and potentially unfair to segments of the economy. If we are going to make major changes to the federal tax codes, let’s make the people happy and do away with the income tax and the IRS.
  
  How? Charge for the use of money. A major responsibility of a government is to provide a common medium for wealth exchange. So why not charge for the use this medium. An example of use charges; congress sets the rate for the use of a dollar at one cent. Any entity of the society that receives a dollar and puts it into the bank would pay for the use of that dollar. The bank would instantly transfer one penny to the government and deposit $0.99 in the client’s account. This process would do away with all tax breaks such as religion, charity, investment loopholes, stock trading, etc. The weight of government spending would be instantly reflected in the value of the dollar. Congress could tweak the economy by changing the use rate and be held accountable for inappropriate rates. Greater rates could be applied to cash that is removed from or replaced in the bank and to foreign currency exchanges. These higher rates would prevent the economy from moving to a cash or foreign money basis. Technology could be developed for the personal use of “smart cards” capable of card-to-card and card to machine transactions. Such cards would contain owner recognition safeguards, display account and transaction information, and transfer this information to the bank on a regular basis.
  
  Fees on each monetary exchange makes the country much more efficient. Frivolous exchange of goods and services would be increased their costs (so long day traders!). Producers of goods and services would always look for efficient ways of production and distribution in order to minimize cost.
  

• #23

  jack clark (Thursday, 19 August 2010 15:02)

  David
  
  May I respectfully suggest that you send a complementary copy to every member of Congress?

• #24

  Joel S. Tremmel (Wednesday, 15 September 2010 17:47)

  I completely agree with Jack that ever member of Congress should read this book. They should be concerned enough about the future of the Country to buy it for themselves, but if a complimentary copy is what it takes, so be it. We might have to lock them all in a room until they read it though, if they are not motivated enough to buy it.
  
  I think we need a MILLION PERSON march on Washington along with a concise non-partisan message. We need to prove to Washington that we are as mad as hell and we aren't going to take it any more. Anyone out there have the logistical experience to get this organized? I wouldn't care if it got so crowded that most of us ended up on the side of the interstate highways making our point from a distance.
  
  We should be as upset about the abyss we are heading toward as the 1960s civil rights activists were about race inequality. We need that degree of passion if we are to get Washington's full attention. We certainly should have the same passion to fix this problem that we had to send a man to the moon.

• #25

  William H. Beal (Wednesday, 01 December 2010 23:42)

  I think that every American who is truly concerned about our country should read "COMEBACK AMERICA".Maybe, just maybe,anyone who reads this book will realize that this country cannot act like a spoiled teenager with daddy's credit card.We can't have everything we want and we shouldn't be trying to please everyone.We need to earn to say no, hell no, to runaway spending by the government.We need to tell American business that if you want to shut down a factory in America and outsource your labor to a foreign country , putting Americans out of work,any product brought in to this country should be subject to a high tarriff.On the other hand, illegal immigrants should be placed in jail.We need to tell the world that the world that we will no longer tolerate illegal immigration. Illegal means you broke the law. You break the law, you go to jail.Not 30 days.First offfense 1 year in a work camp.
  Then deportation.Second offense 3 years in a work camp and deportation.This flood of illegal immigrants, who are taking away jobs from Americans must stop.I know this sounds Draconian but it's necessary.Illegals pay no taxes.
  Yet we give them medical care.This has got to stop.
  on the other hand, any American who is drawing welfare and is capable of working should be made to work.Welfare recepiants need to become productive citizens and get off the government teat.People who work generate taxes.This country needs to get on a "war footing" as it did in World War II.Everyone works for the war effort.And believe it or not , this country is at war. Not just the war on terrorism, but the war against bankruptcy. The war against a lower standard of living for our grandchildren.We must stand up against runaway spending by Congress.We as a nation must say no more waste of our hard earned dollars.
  no more pet projects.We have become a spoiled people.We have borrowed trillions to prop up our way of life.We have indebted ourselves to foriegn governments- mainly China-who will one day will call our marker.If we do not change our ways of spending , both personal and governmental,the great line from Pogo will come back to haunt us."we have met the enemy and he is us."

• #26

  Mike Martin (Monday, 14 February 2011 15:09)

  Try this to get spendind down.

• #27

  Maryann Westfall (Saturday, 19 February 2011 23:46)

  I am surprised that David Walker does not support FairTax (a national retail consumption tax to replace all federal income taxes). Many economists were engaged in comprehensive research that resulted in positive impact in virtually every area of our economy. I'd love to hear his comments.

• #28

  Doris Lawson (Tuesday, 29 March 2011 13:26)

  I have finally finished reading David's book. I read the paperback at my leisure. I immediately agreed with his interpertation of the financial situation our country is in and heading towards. I am not an educated economist or an expert accountant, but I can balance a budget. I can probably write my own book with my comments as to what David is saying in this book. I am recently retired at 66 and my goal was to retire at this age. My husband and I planned(prepared)for two years, as to establish our financial status. The saying "practice what you preach" needs to be adressed by our government. If I, can adjust to live within my means, why cannot the government? They preach to us to not go into credit card(burrowing)debt, but yet they have and continue to spend our money(never ending hole) and the list goes on. Thank you David for writing this book, unfortunately, our represntatives in Washington do not pay attention to what they are hearing from us. I plan on passing the book onto my daughters, who are my next generation of Americans.

• #29

  J. Miranda (Sunday, 17 April 2011 14:17)

  i'm not an American. Actually, I'm a Spaniard who bought this book by chance while in Washington. I must say thanks to Mr. Walker. I enjoy his work and I learned a handful of facts and ideas that are applicable not just for the US but for Europe and South America as well. It'll be a great idea to translate it into Spanish and other languages.

• #30

  Sundar Nathan (Monday, 06 June 2011 14:50)

  Brilliant. Insightful. Illuminating. Succinct.

• #31

  Fred Lucia (Tuesday, 28 June 2011 11:14)

  Thank you David Walker for a very insightful and wonderful book, and I think it should be required reading in college economics courses. That's said
  I think Mr. Walker should do a follow-up on the promises that he related to in the book that our current president Obama had made at the time of writing, where the follow-through's had been, what had actually been accomplished, and what appears to be a blizzard.
  I would really like to hear Mr. Walker's critique of the current administration and its follow-through.

• #32

  Online Citizen Journalist (Friday, 30 September 2011 06:15)

  Thanks for writing this book. Imposing !!!

• #33

  swing set (Wednesday, 08 February 2012 01:57)

  Thanks for sharing the information there would be some apprehensions from segment but I am up for it.

• #34

  playset (Wednesday, 08 February 2012 01:58)

  Yeah well I think that its tough when a lot of stuff has been going on already and then you step into office to clean things up, hope he has a big mop with a good size log basket bin for all the rubbish

• #35

  Thomas M Smith (Thursday, 16 February 2012 14:46)

  Hi, my name is Thomas M Smith. I am a student at the State University of New York: College at Plattsburgh. I am representing the Political Advocacy Committee of our student senate We would love to have you speak on your new book at the school. Please contact me at 518-334-1042 or tsmit010@plattsburgh.edu.

• #36

  Paul R. Farmer (Sunday, 26 February 2012 06:32)

  Should be recommended reading for all of Congress. With partisan politics being what they are today, the possibility of one administration working with a succeeding administration as in Hoover and Truman situation is almost an impossibility. I could not concur more with you regarding the need to implement a strategic plan from a baseline set of criteria. The time and length of the plan should be ten and possibly twenty years. This plan could address the areas of concern such as social security, medicare, military spending, healthcare etc. Now the question presents itself. How do we get our two party system to agree to do this?

• #37

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• #38

  Wilberforce (Wednesday, 29 February 2012 16:45)

  Your book has many vague and useless proposals, and others skillfully designed to shift power to the rich and costs onto the middle class.
  
  Your campaign finance rule requiring contributions from local voters will just allow local millionaires to dominate elections.
  Term limits are useless because special interests can always buy the next candidate in line.
  Also regarding campaign finance, you don't mention recent SCOTUS decisions - Citizens United, corporations are people, money is speech - or the media's destructive monopoly on mass communications.
  You start the social security section with the clause 'strengthen social security', a clever misdirection. But you do not wish to raise taxes on the idle two trillion dollars. You want to raise the retirement age, again expecting the middle class to make the only concession.
  Also on social security, you have the phrase 'better target preferences', which is meaningless and probably a complication to confuse the issues.
  You want a federal budget for healthcare expenses, as other countries have, but neglect to mention that they have single payer systems which control costs.
  You want taxes to be competitive and equitable, and to generate enough revenue, three vague abstractions without a clear policy proposal.
  You want rules against foreign protectionism, accepting the elite demand for the free market, while ignoring the blue collar preference for national protectionism.
  
  Your bias for financial elites is obvious in every word you say.
  
  

• #39

  Gary 2012 (Monday, 16 April 2012 07:35)

  Listening to you on CNBC, you said we have not contributed enough to social security to collect the amount we are getting paid for retirement checks. LET ME TELL YOU SOMETHING MISTER. I PAID IN ACCORDING TO WHAT THE GOVERNMENT SAID I OWED THEM FOR 40 YEARS. I HELD UP MY END OF THEIR PROGRAM, THEY CAN DAMN WELL NOW HOLD UP THIER END OF THEIR SOCIAL SECURITY SYSTEM.

• #40

  steve coleman (Tuesday, 24 April 2012 13:46)

  Mr. Walker,
  
  having seen you many times on both cnbc and bloomberg makes me glad to be an American. What this country needs is for you to be President. I wish you would consider it. From my own experience, I can tell you one of the reasons our disability fund is going broke is because there are so many people getting benefits who don't need them. I'm just one person and I know 3 people who are taking advantage of the system.

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