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Comments: 86
alexthered (Tuesday, 15 December 2009 16:28)
The long term fiscal situation of the nation is vital to our ability to maintain our quality of life. Simply put: without money we cannot educate our children, upgrade our decaying infrastructure or fight global warming.
Carol Marie Walker (Wednesday, 13 January 2010 12:11)
Dad, I'm so proud of you and I love you! Congrats on the book and all the amazing things you do!
Leigh Baier (Monday, 18 January 2010 09:44)
David Walker's book is a balanced factual statement of the perilous financial situation we face in America. This perilous situation has resulted from our failed political process brought about by both political parties. History clearly indicates that great nations remain great only so long as they maintain fiscal responsibility. The same special interest financial powers that own both political parties have policies that have also caused an ever greater concentration of wealth in America in a smaller and smaller per cent of its citizens. David Walker’s book is only his first step in a crusade that can succeed only when the American voter de-couples ideology and political spin and ignorance. Everyone needs to do their part and start by reading CFmeback America.
DES (Sunday, 24 January 2010 09:00)
I was flipping through this book while waiting on line at Barnes and Noble when I came across the author's argument that one of the ways to fix Medicare would be to require the wealthy to pay more of the cost for the Medicare Part B premium (Part B generally covers non-hospital costs). Great idea -- which is why the several years ago, Congress implemented the idea, and today the wealthy DO pay more for their Part B premiums. I got off line and put the book back on the shelf.
MST (Thursday, 28 January 2010 14:16)
I consider myself a philosophical Independent though I register with one party or the other depending on which party seems to need more moderate balancing in any given election. (Here in Oregon, registered Independents cannot vote in Democratic or Republican primary elections.)
On p.190 of COMEBACK AMERICA you write "For independents like me and a growing plurality of Americans, there may be no place at the table at all." I could not agree more and I hope your book is read by others like me who are looking for a voice. Thank you!
Carol May (Thursday, 28 January 2010 14:44)
Very well done! I particularly appreciate Walker's recognition of the need for non-partisanship as opposed to the prevailing bipartisanship, the latter of which assumes that every question has only 2 possible answers -- and that if you don't support one then you must obviously support the other.... That, I believe, is the sad result of a 2 party system -- and sadly many of us have allowed ourselves to contain our thinking within its narrow framework -- ignoring the existence of other solutions.
Shane Blake (Sunday, 31 January 2010 13:20)
I found your book fascinating. While much that was stated was common sense, it seems that common sense is lacking in the fantasy world of Washington. I dislike the idea of my personal share for taxes increasing. However, I understand that if tax increases are done in a way that is fair and across the board with protections built in for those at the poverty level and below, that it is something that I and many others could stomach for the greater good of the country and our future.
I did disagree with you in one area in regards to Health care reform. You relate how provider payments should be tied to performance, and then later contradict yourself by bringing up the idea of a capitation plan. Being a healthcare provider, I can tell you that captitation plans may actually have the opposite effect for which you are seeking. They are primarily a means by which insurers transfer their risk to the providers. Expecting a plan that pays a flat amount per patient to a provider to care for all of a specified group of patients' needs to maintain the national quality of health required is unlikely. While we cannot continue on a plan where doctors and providers are overtesting to protect themselves from litigation and "line their pockets" as you claim, we also cannot encourage a system that encourages a provider to limit the recommended tests beyond reasonable levels in order to maintain their bottom line. A capitation plan does this.
All in all an excellent book that opens eyes, and hopefully helps call the american voter to action. Thank you for writing this.
goreshade (Tuesday, 02 February 2010 10:59)
You should read this book and then send it to he White House with the ideas you liked best highlighted.
Jim Irvine (Friday, 05 February 2010 07:57)
David Walker is one of few objective voices in the U.S. expressing concern and telling the unvarnished truth about our fiscal madness.
I plan to purchase copies of this book and send it to my Congressman and Senators, and to my State representative and senator. I suggest we all do the same, maybe the politicians will get the message.
Charlie Kelly (Friday, 05 February 2010 12:20)
As a centrist independent, I couldn’t agree more with the views expressed in Comeback America. Every time I watch cable news (Fox and MSNBC in particular) I am reminded the Republicans are not willing to compromise on anything while the moderate Democrats fight with their own liberal wing. The Neo-cons make Barak Obama out to be a communist, and media throws rational discourse out the window like the proverbial baby being thrown out with the bath wash. Heaven help us. I realize how dysfunctional our government is, and it is getting worse by the day.
Which brings me to my point: Anyone who agrees with Comeback America also has to agree that we need a Constitutional Convention. Knowing Washington is gridlocked, the convention will only happen if the second option expressed in the book can be accomplished (by which two-thirds of the states legislatures call for a national constitutional convention). There is no mention of this I could find on this web-site or on www.pgpf.org. How can we get organized to accomplish state by state? I’m willing to do what I can to promote a constitutional convention as David Walker outlines. Please advise, and thanks for a great book!
William Cleveland (Sunday, 07 February 2010 23:08)
Last year I wrote a fact based fictional story modeled on the Peter G. Peterson Fondation covering the same topics as in Comeback America. The story is on hold because I concluded that none of the proposed reforms could be accomplished without first having msjor cultural reforms. I would like to send you a copy for your comments if you would provide me an appropriate email address.
David Walker (Monday, 08 February 2010 08:38)
"Thanks to every person who provided a comment on this site to-date. I appreciate the time that you took to do so. The following represents my response to selected comments.
DES noted that Medicare Part B already has some means testing. I am well aware of that; however, Part B is not means tested enough and that is my point. For example, billionaires can still receive premium subsidies under Medicare Part B! In addition, Medicare Part D is not means tested and it needs to be.
Shane made a comment about the possible impact of capitation approaches. In my view, we need a budget for annual federal health care expenditures by major program. Every other major industrialized nation has some form of budget control. That budget needs to be allocated in some manner. One possible model is a capitation approach that would also provide a bonus or claw back based on risk adjusted outcomes for the year. In any event, we need to move to evidenced-based practice standards that physicians and other health care professionals would employ in order to reduce costs, improve quality, reduce patient risk, and dramatically reduce malpractice claims (since complying with the evidence-based practice standards would be a "safe harbor" against malpractice claims).
Charles asked for the foundation's web site. It is www.pgpf.org. I would encourage him and others to sign up under the Citizen Action section. We will protect your privacy and won't ask you for money.
William offered to send me a copy of his draft fiction book that addresses some of the issues in my book. I suggest that you send it to my office in care of Kathleen Benanti who is my Executive Assistant. Our office address is: Peter G. Peterson Foundation, 712 5th Ave., 48th floor, New York, NY, 10019.
Thanks again to all who took the time to read the book and post a comment."
Mike Miller (Tuesday, 09 February 2010 15:31)
THANK YOU for writing this book! It's very enlightening and exasperating at the same time. It has reaffirmed my suspicion that the political parties themselves are bringing this country to ruin. Let's use our influence as citizens to continue to put pressure on our elected representatives (especially the overly partisan ones).
Lee Watkins (Thursday, 11 February 2010 17:41)
I don’t agree fully with all of the ideas in Comeback America, but I agree with 98 percent of them. I don’t believe, however, that progress can be made toward reaching the goals laid out in the book without a broad based, highly organized political movement that can threaten the status quo inherent in the two party system. What is needed is a viable third party that can put forward candidates who are committed to the ideas in Comeback America. In the newest Washington Post – ABC poll, 66 percent of Americans are unhappy with the current state of affairs in Washington. Now as never before seems like an excellent time for third party candidates to step forward and run for congress in all 50 states. If I were doing it, I would call the party the Centrist Party. I’d draw up a platform based on the ideas in Comeback America and I’d shape the thrust of the campaigns in every district around bringing our economy back in balance. I believe that there exists a broad coalition of Americans who are ready to make the hard choices required to put this country on the road to economic stability. I think that many of those voted for President Obama hoping that he would lead in that direction. Once a few Centrist Party candidates defeat established Republican and Democratic candidates – or even make a decent showing, the impetus for change will be greatly enhanced. Then pressing for a few amendments to the Constitution will be far easier.
Tom Chaplin (Thursday, 11 February 2010 23:49)
As a soon-to-be grandfather for the first time I'm finding myself more and more concerned about passing down our country's financial problems to my new grandson. And I agree completely that "We" have been electing - and re-electing - the people that have been making the problem worse. David, how about the idea of making term limits for Congress shorter than you recommend - but the limit wouldn't be put into affect as long as the budget is balanced at an acceptable % of GDP? Anyway... good book and I'm planning to pass it around...
Shane Blake (Friday, 12 February 2010 14:41)
David,
I agree wholeheartedly that the Federal Government needs to cap the health care expenditures with a budget. I even agree that an evidence based approach is the way to do it. Evidence based medical and dental care has been the the growing trend as it is, to tie that into reimbursement rates seems very fair to me.
I just know at least from the current mainstream capitation plans that you must be careful with how the plan is designed because it may encourage the exact opposite of what the problem is now. Too little care for the sake of the dollar is just as bad if not worse than too much for the general public.
I still agree with 99.9% of your book and thoughts and am glad someone had the knowledge and the experience to say it like it is.
Kudos to you for being the one to do it.
Don Barkman (Saturday, 13 February 2010 11:25)
I saw you on either the Daily Show or the Colbert Report and then bought your book. Great read! You represent the voice of reason in the midst of all the partisan positioning. Good luck!
The financial situation of the country is a larger threat to national security than all the terrorists combined because it deals with the underpinnings of the country and the life of every citizen. None one wants a bombed city or plane, but they are small impacts relative to the economic impact of our huge and growing debt. We cannot confuse the dramatic with the substantive.
The simple truth is that we have been living on money we did not have. Congress became addicted to deficits as a means to hand out goodies without raising taxes (today). When 51% of the population pays 4% of the federal income tax, we have set the stage for believing that government benefits are free. The majority (tax escapees) can demand that the minority (tax payers) support them by using their votes to make it so. deToqueville had it right about the threat to democracy being the electorate's power to use the treasury for their own benefit without regard for the consequences.
Ironically, most states require balanced budgets. However, by using federal deficiits to provide stimulus funds to the states, we have a form of back-door borrowing that negates the fiscal discipline of the states. The government can provide no benefit unless it extracts its payment from someone else - deficits are only an illustion to hide this rule. In the end, the money comes out of my wallet and your pocket.
While I like my congressmen, it appears the only way to get the attention of Washington is to vote every single incumbent out of office. (Until recently I thought this was too radical.) The thing that gets a politician's sincere attention is the prospect of having to earn a regular living like the rest of us. Calling a Constituional Convention is a tough thing to accomplish, but it is easy to change your vote in November.
For more on healthcare reform, visit www.acenteredview.blogspot.com - just analysis, not solutions and no ranting.
Mike Murphy (Sunday, 14 February 2010 14:13)
I heard you on the Michael Medvid radio show and
headed right to the book store. Your book and that of
of Martin Gross, 'National Suicide' make the case
that we must "vote the ins, out!" The necessary
change is not going to come from the current cast
of empty suits, skirts and dresses in Washington.
Kelly Balfour (Sunday, 14 February 2010 14:14)
Your book is a reasoned approach within the context of existing conditions. My reservation lies in the implied concept that central planning (although it be a 'different' plan) works or is to be desired. When reviewing the established federal bureauacries for effectiveness, the FIRST and most important examination should be "Is it an enumerated power of the federal govt. established in the U.S. Constitution?" Every politician has sworn to uphold the Constitution and the majority would be impeached, should a true examination be made.
Until the perks & privileges that have isolated the political establishment from the rest of society is eliminated, I fear you will be out gunned. "Power corrupts and absolute power corrupts absolutely."
Personally, I think nothing less than having all the states west of the Mississippi secede from the Union will make its mark.
Short of that wishfull thinking, DAVID WALKER FOR PRESIDENT! would be a good beginning.
GB (Sunday, 14 February 2010 19:00)
Dear David,
The best thing to be done is to get your publisher to provide books for everyone in congress and the executive branch! I bought your book and so agree with what you have put forth!
>Take the cap off of social security completely
-Only American Citizens get anything from social security NOT babies born in the United States to two non-citizens-the child is eligible for soc.sec.ONLY if one or both parents are US Citizens
>Put every American Citizen into the Federal Employee's Health Plan/take the money from all the other government plans and put it toward the New Federal Plan for ALL American Citizens
>Put every American Citizen into the Federal Employee's Retirement Plan
>Put Sen. Ron Wyden's Tax Plan into law
Charlotte Conway (Monday, 15 February 2010 11:42)
Finally, there's a place where independents can have a voice! I'm one of those angry Americans who is very tired of the gridlock in Washington and the dysfunctional Congress. I'm tired of the cable news networks that constantly show the political parties at their worst! I'm tired of politicians whose main task is to raise money for their next election. I'm tired of the Republican Party of "NO" and the Democrats that can't agree on anything. All of this while American is at the brink of destroying itself through neglect of its fiscal policies. If all of us paid our fair share in taxes and our spending were reined in, perhaps we could begin to dig ourselves out of this huge ditch. Let's make this a huge movement for the good of America!
David Wayne Johnson (Monday, 15 February 2010 12:44)
Great book, David, thank you. I gave a copy to my father for his birthday. I'm a land use planner for Jefferson County, Washington State working on getting ordinary citizens involved in self-government through deliberative/consensus/wisdom councils. The only way to solve this and the myriad problems we face is to wake up "We the People" to energize and tap the talent and creativity of everyone. Others can contact me about this at: david_wayne_johnson@hotmail.com. We need to spread the word and get people together, talking, sharing and deciding instead of letting this car go off the road into a ditch we can't get out of!
Russ Pichlik (Tuesday, 16 February 2010 13:15)
An appearance on C-Span prompted me read your book, and I must say that it is thought provoking. Another C-Span apearance on February 16 prompted me to write this note which is something I usually do not do. It seems safe to say the the American citizenry "does get it" and "does not get it". The folks know that there is something seriously wrong in Washington, but they do not realize that the wrong is them. As a teacher of many years standing(now retired) I had a view into the home of the typical American family brought to me by students in my high schools classes. Thesee were serious students studying advanced math and science, and yet some of the attitudes conveyed were astounding. I cater to no political party and the beliefs sometimes defied common sense. May I suggest that the foundation with which you are associated consider directing some of your efforts to educating the public, not through the public school system, but through a program of general enlightenment perhaps like a public relations campaign. It seems to me that our public system has been woefully short on educating about practical economics. Having said enough,I wish you well on your mission to bring direction to the continuing success of the greatest country ever.
Frank Tomko (Tuesday, 16 February 2010 13:23)
Excellent book David,
I read it twice and sent it to a friend
I have followed you for the last few years...and now finally we have a blueprint for getting us back on track...
I'm all for the for representatives actually "reading" the Constitution.....The big question is will they understand what they've read ...
Even taking a test may not be enough...
All these lawyers in Congress...also have huge staffs that are lawyers as well.....
Let's also be sure their staff is balanced as well....
Also what about funding for SS for all the illegals we have in the country....We need to get that in check as well....
Dave Mitchell (Thursday, 18 February 2010 07:14)
Great book. We are overdue for common sense instead of politics. Walker delivers in this book. I am recommending it to my friends as well.
Having spent my working life swimming upstream in the rust belt, I feel that our manufacturing base is in great jeopardy. I suggest that if our nation is to truly remain healthy, we must find a way to gainfully employ the unskilled and semi-skilled citizen and make him/her part of the payroll tax base. Along the way, we must be competitive in the world market. That is a tough issue, but must be confronted, otherwise we will truly have no middle class in the long run. Perhaps union abatement and tax reform are the answers.
Michael Shields (Tuesday, 23 February 2010 17:14)
I've signed up on this web site as well as on the PGPF web site expecting to receive calls to action on specific bills and hoping, after having been fired up by Comeback America to contribute in a meaningful way. Thus far, all I've seen are form letters for generic OpEd's and letters to our congressmen. I'm disappointed that there isn't an effort to effect specific legislation such as the jobs bill that just past or if that one is too politically charged, other spending bills, examples of pork barrel spending, etc. To underscore the impotence of this "movement" one need only point to the trivial "Fiscal Haicu" site and more recently "Budgetball"! Yes I know, there is a desire to attract the young. But hopefully it is an effort to attract the serious among them not to mention the serious among the rest of us.
Just my thoughts - I did love the book!
George H Hazen (Thursday, 25 February 2010 05:37)
Dear David: I was brought up with values. My dad and mother were pre-depression babies and experienced The Great Depression in their 20's as college graduates. I did not know My ancesters until the last thirty years and I know that they came to this country from England in 1640's. I did not know they were a general under George Washington, a solder at Bunker Hill and many fought in the revolution. My parents never said I was any different than anybody else. They all said that I have the same chance to make it as anybody else and gave me the spending and other values to make it.
When I was young, I found that the baby boomer generation did not share these values since many of them came from parents who were born in the 1930's and came on the spot after the war. This generation thought they could spend as if it was no tommorrow and they would inherit their parents money.
Currently, I have inherited my parents money and more than doubled it with my earned money with total wealth of almost a million dollars. I thought I did the right thing by living within my own means. I didn't know my government didn't. I didn't know our elected officials were that irreponsible. After reading your book, I am shock about the irreponsibility and how close we are to bankruptcy. This is my whole life of frugality has been worthless since our trusted elected officials have not done their job.
I think we need not the flowery speeches of Obama but we need meaningfull action. President Obama is not the Man for the job since he is catering to the special interest of his interests. He is a socialist and maybe even more. He does not know the American values. The Republicans have catered to values of the American republic without controling the costs.
We need a different direction. It must start with education and it may be to late. We need to have a program of education amoung our youth for they are the future. We need government programs that create jobs not entitlements. We need to have parents who have values that create wealth not debt. We need to have drastic change of how this country is run and need the owners as being the people who govern and who are responsible and accountable for. I did this when I ran for election but as soon I lost my signs were taken down. We , I hope do not have sunset on this great nation with these irresponsible ideas. Stand up fight for America and everybody's future.
Dave Walker (Thursday, 25 February 2010 09:56)
I would like to thank everyone who has made comments to-date. A special thanks goes to those of you who made very positive remarks and/or provided constructive comments. The following represent a few points based on comment numbers 13-27:
o In my view, we need to conduct an issue campaign that hopefully will result in a movement if we expect to accelerate change in Washington and create a better future for our country and families. I'm not sure that we'll see a viable third party movement by 2012 but I think it's very possible by 2016. In the meantime, political independents like me and other concerned citizens, should try to help build the sensible center, accelerate needed changes, and hold elected officals accountable for what they do and what they fail to do. In the final analysis, it's "We the People" who have to turn things around.
o I suggest that people not place all incumbents in the same catrgory. Some are good people who are trying to the right thing but are caught in a bad system. We should all vote, and we should do so based on the best choice available. We also need to work to improve the choices that we have so more Americans vote for rather than against a candidate.
o We are exploring sending a copy of the book to every member of Congress and to the members of the new Presidential Fiscal Responsibility and Reform Commission. As your know, forming such a commission was one of my recommendations in the book. Any related actions need to be done in full compliance with all applicable laws and ethics rules.
o As a family foundation, The Peter G. Peterson Foundation can not lobby for or against specific pieces of legislation. It can not endorse or oppose individual political candidates either.
o I agree that we need to do more to stimulate small business, in general, and value added manufacturing, in particular. You can't build a sustainable economy and equitable society on financial engineering!
o We are in the process of finalizing comprehensive communications, citizen engagement and related plans for the Peterson Foundation. In 2010, we will be focusing more on sensible solutions along with various citizen education, engagement and empowerment activities both on-line and in selected cities around the U.S. Stay tuned!
All the best,
Dave
Bob N. (Sunday, 28 February 2010 06:00)
Although I agree with most of the points in the book I must say that I was disappointed with the tax chapter. A Value Added Tax is not the answer to our revenue shortfall. Although, as a consumption tax, and is a step in the right direction, it is not even close to being the best solution. A tax that must be levied at every level of production is by no means simple. Every argument that Mr. Walker makes is a case for the Fairtax, but he only mentions it in passing at the end of the chapter.
His support for the estate tax is also disappointing. In one paragraph, he mentions that the repeal of the estate tax would lead to the accumulation of wealth in the hands of wealthy families. However, in the exact same paragraph, he states that heirs of wealthy people will generally squander the money foolishly. Those are completely contradictary statements. Besides, if a family accumulates wealth, isn't it their right to squander if foolishly? Is it preferable for the government to take the money by fiat and give it to others? Consider the tale of two families; One acts in a fiscally responsible manner and accumulates wealth and the other spends recklessly and accumulates debt. Is it fair to punish the responsible family with an estate tax at the end of their lives?
The Fairtax meets and exceeds all of Mr. Walker's criteria for a simple and fair tax system. I suggest that he learn more about it before he writes another book. I am a huge supporter of the PGPF as well as the Concord coalition. I wish they would use their influence to support the one tax proposal that is completely consistent with their principles.
Two parting thoughts. First, there are thousands of people involved in the Fairtax movement. To the best of my knowledge, I've never even heard of a VAT tax movement. Second, just because it won't be easy to get the Fairtax past the special interests groups is no reason not to support it. Our nation has done a lot of things that were not easy, but were certainly worth doing. We've broken free of an oppressive monarchy, ended slavery and help keep the cause of freedom alive across the globe. Certainly we can fix our broken tax system.
DRT (Thursday, 04 March 2010 13:36)
I just recently read your book. Thanks very much. It is excellent. I am very curious as to what your thoughts are on one of the world's other looming crises, climate destabalization and related Cap and Trade vs. Fee and dividend vs. other schemes for pricing and reducing CO2.
Walt Lyons (Thursday, 04 March 2010 22:02)
The solution to our problem is to amend the Constitution to make it so difficult for politicians to be irresponsible that they will be forced to return to sanity. Please have a look at the Fiscal Responsibility Amendments site.
Michael Shields (Friday, 05 March 2010 17:37)
It is clear to me after having read David's book that the time for quibling about how we get our financial house in order has past and that the time to insist THAT we get it in order has arrived! This will never happen unless those who are willing to compromise rise to the top. Neither the Teabaggers on the one side nor Moveon.orgers on the other will ever get this done. They will need to be drowned out by the sensible center. It's time to focus less on being right and more on being effective.
Gene Henry (Tuesday, 16 March 2010 10:22)
Good read- too late! Obama is hellbent to destroy the country and h may do it. Spending and more spending- what a disaster. Your book has no effect on tis man- he could care less about unchecked spending and the involvement of us citizens to send a message. It's over!
Philip B (Tuesday, 16 March 2010 18:39)
A good book; no doubt. My two suggestions in transforming the government, is rather than increase term limits and make them one-time only, change them so they are nonconsecutive - for the president, perhaps 2 6 year non-consecutive terms. As for the other; why not change medicare and medicaid's eligibility. If you want the governments "free" money you have to be more like the Mayo Clinic, salary based doctors and other such improvements.
Fred Standefer (Sunday, 21 March 2010 18:42)
First, thank you so much for all you do. You are a true modern day Paul Revere. I pray the nation responds to the call to common sense and fiscal responsibility.
Perhaps one place where we might find bipartisan agreement; none of us want to be broke. Liberals and conservatives alike should agree we have a responsibility to be good stewards of all this great country has provided us including a national balance sheet that is the foundation for much of what we all enjoy.
I find it ironic and frankly scary that our "leaders" hail largely from states like California, Illinois, and New York. The same "leadership" and misguided policies that have driven these states to potential Greece-like meltdowns are bringing their financial poison to all of us and now they have their own printing press.
I see no political will to truly fix the problem or even basic understanding of the fundamental financial management required of all of us, in our Washington leadership. Too many Ivy League lawyers and goofy policy wonks; not nearly enough engineers, CPAs, and real business people. If the Federal government was a public company ALL of the management would be indicted for gross negligence and fraudulent accounting practices that make the En-ron boys look like amateurs.
Thank you again I will be purchasing your book for all of my family and several of my friends. I would love to help in other ways if I can. Any chance you might come to Oklahoma City?
With highest regard,
Fred Standefer
Edmond, OK
Kenneth W. Cooley (Tuesday, 30 March 2010 13:27)
This is a wonderful book -- unique, by virtue of being the ONLY effort I have seen in years and years that avoids hyperbole and political cant.
I will be purchasing and sending copies of the book to various friends and family members.
While I am pretty much in agreement with everything you have set out, I am in particularly strong agreement with your advocacy of a value added tax, or some equivalent thereto; it is the ONLY way I can see that will add tax cheats (at all levels of the socioeconomic spectrum)and participants in the underground economy to the roster of tax payers. However, a VAT, of and by itself, would be wrong; we need to purge and revamp the entire tax system.
Sadly, I fear that the US citizenry has traveled too far down the lollipop road, and is too hooked on such ephemera as celebrity appeal, talking heads, and irresponsible political dogma and sensationalism to undertake the hard work of seeking out real & worthwhile source data or exercising the discipline needed to restore this once great country to some closer semblance of sanity.
In that last regard, it would be helpful if there were some readily available place for the ordinary citizen to go, and to be assured that the materials being recommended are factual, knowledgeable, and reliable. We are currently too flooded with half truths bandied about by zealots.
But, other than "venting," what else can I do? Are there any kinds of sane and responsible organizations out there that are working to make things better. If so, what are they?
Kenneth W. Cooley
Chatham, NJ
Cliff Sutherland (Wednesday, 31 March 2010 15:20)
I sent a friend of mine a link to this site and he responded with the following statistics:
I see from the discussion that he uses longevity and infant mortality as two of his metrics for evaluating health care. I've written about how these are bogus.
Take out the gang deaths in the inner city and our longevity rate would be higher. Since we drive more than other developed countries, our auto fatalitys are much higher. This skews longevity as well.
We classify an infant as viable at a much early age than other developed countries. What other countries classify as a miscarriage, we consider a live birth. Naturally, our infant mortality rate is higher and this skews our longevity statistics as well.
A better metric is survivability rates of various forms of cancer.
Percentage of men and women who survived a cancer five years after diagnosis: U.S. 65 percent, England 46 percent, Canada 42 percent.
We have the highest survivability rates of both breast and prostate cancer. I had an uncle who had prostate cancer in his 60's. He lived to be 92. I know of four other men who had prostate cancer. They're all still going strong.. My mother had breast cancer in her 70's. She lived to be 83. It was her heart that did her in. She survived two previous heart attacks.
Other interesting stats.
Percentage of patients diagnosed with diabetes who received treatment within six months: U.S. 93 percent, England 15 percent, Canada 43 percent.
Percentage of seniors needing hip replacement who received it within six months: U.S. 90 percent, England 15 percent, Canada 43 percent.
Percentage referred to a medical specialist who see one within one month: U.S. 77 percent, England 40 percent, Canada 43 percent.
Number of MRI scanners (a prime diagnostic tool) per million people: U.S. 71, England 14, Canada 18.
Percentage of seniors (65 and older) with low income who say they are in “excellent health”: U.S. 12 percent, England 2 percent, Canada 6 percent.
Virginia (Thursday, 08 April 2010 12:36)
I just saw you on John Stossel. http://www.youtube.com/watch?v=DdXdQei5Bws
It's great! Thanks for fighting for fiscal responsibility.
brij (Sunday, 11 April 2010 17:17)
Since I had an opportunity to watch on a TV interview, I have been an admirer of you as a true citizen. I have gone to GAO website when you were heading the orginization. We need people like you who can tell others what you believe in terms of how to keep America strong in the future.
I have suffered ( if we use the word ) in telling the truth to higher authority in the organization where I have worked through out my life.
Keep us inspiring for betterment of USA. Mr. Peterson is one of my heroes in business.
Brij
Mary Kreiter (Monday, 12 April 2010 14:52)
I just recently read your book and I would like to ask you some questions.
l. What do you think about NOT getting into wars, especially undeclared wars and getting out of these two "wars" as soon as possible?
Your comments about congress voting for war was a good one, and I would like to see a draft so all Americans would suffer equally. I believe you would find that many people enlist for the education benefits, a job, and health care.
2. You want to raise the retirement age, but have you ever done hard, physical labor? Your body gets worn out and used up. I cannot see a 70 year old roofer, construction worker etc. working past 62 or 65 years of age.
3. You stated that raising the retirement age would keep our economic growth strong even when "our workforce is shrinking." Have you tried to get a job in Michigan lately? Many people cannot find work.
I do agree with your premise that income should match the outgo.
Peter K Wood (Monday, 12 April 2010 20:48)
An excellent book. One might not agree with all of the suggested fiscal solutions, but Mr Walker has catagorized issues of substance that equate to the sacrifices we must all make. I plan to write my congressman referencing the book, and ask what serious plan with sacrifice each Senator and Representative has for the future.
Steven L Wolf (Sunday, 18 April 2010 14:26)
The Care Card Coalition wants to affect legislation in Georgia and in other states across the union. The Coalition wants each state to adopt its version of 'the American Care Card'; a taxpayer-funded benefits allocation system that is forged on the principles of free-market enterprise and personal responsibility. It will serve to protect Georgia's taxpayers, physicians, hospital systems, manufacturing sector, universities, professors, dentists, banking and insurance industries, alternative therapies, small businesses, and CPAs, and most importantly, Georgia's 'quality of care'. The anti-capitalist burden and regulation represented in the new federal health care reform law will do indelible damage to all of the industries that matter most to our prosperity. I am looking for partnerships in this work.
You are encouraged, of course, to spend a little of your time reading the initiative for yourself. You can find it at: www.theAmericanCareCard.com
Thank you for your time and I'm looking forward to partnership with you in the endeavor.
Steven L Wolf
Creator of:
The American Care Card
Legislative Initiative
678.770.4478
Steve Rehling (Wednesday, 21 April 2010 20:48)
Just as Wall Street needs regulatory reform, so does Washington. Our government is out of control fiscally and has been for years, as David so skillfully describes. While David outlines a number of steps to bring America back from the brink, I fear that there's no way to get the political will to change until the long term effects become much more damaging. And most of the Media doesn't help, focusing more on political sensation than on the real problems we face. Well done, David.
Patryc Wiggins (Friday, 14 May 2010 08:25)
David Walker's voice is the most important in the country; with the Pete Peterson Institute. I can help with my work in Precision Valley in New England. I am founder/president of the Guild Institute. I work with policy leaders, academia and industry - to transform the producing sector of the Connecticut River Valley economy to a renewable energy stronghold. I need you to help me organize Judd Gregg, Warren Rudman, David Souter, the Sununus (all close friends in NH) with Dr. Jim Young Kim of Dartmouth, and Vermont's stellar leadership too, with our region's 200 year old superior advanced manufacturing cluster - the world's best as per a 2009 report by the New England Council - Precison Valley is our secret economic powerhouse. Comeback America needs to look at the central role of the economy in the poltical/financial transformation that is imperative. The producing sector of the economy needs to be invested in to design and manufacture what's needed by the world: renewable energy technologies of all types, as a base for a sustainable way of life worldwide. Precision Valley has this R & D, manufacturing and lifeways capacity. It has political and academic clout to back it up. We are your example. With the capacity here we can lead by example and practice what we preach.
Your book needs to be cheaper. I just finished it and I was going to order 5 copies for people I want to read it, to begin organizing with it, but i can't afford it.
Contact me, I will organize an event for you.
Dennis Hunter (Thursday, 20 May 2010 19:15)
Dear David Walker,
I deeply appreciate the fight you have been waging to regain our fiscal sanity.I have read reasonably widely about this subject. In addition to your book I have read Running on Empty by Pete Peterson, as well as The Coming Generational Storm and The Healthcare Fix by Laurence Kotlikoff. I understand accrual accounting having been a CFO but am not totally sure that I understand the distinction between the results achieved using a 75 year time horizon and a perpetual horizon.That having been said I think that your argument is not well served by not exposing the reader to some of the mechanisms that need to be understood for the $56 trillion number to be accepted as fact. Further as pointed out in the Healthcare Fix,the reader would benefit I believe how vulnerable such numbers are to the assumptions underlying them such as the rate of increase in healthcare costs vs. what history says that might continue to be.You may have found on your various speaking tours that such numerical assertions (e.g. $56 trillion) are easy for people to take seriously in which case I am mistaken. But it seems to me without some development of methodology that the numbers appears fantastical even though I know they are not.
The second point I would like to make is that I think it is easy to escape a feeling of personal responsibility when the case is made the way you and others make it. Perhaps the data does not exist to support what I believe would be a more forceful argument, but if this is the case I will be surprised. Tom Brokaw labelled those who fought in WWII The Greatest Generation. I was born in 1942 and I have a strong gut feeling that those of my generation and the Baby Boomers were the Profligate Generation. It is these cadres of the population that must be taught that it is we have let the future down. One way to bring that message home would be to breakdown the $56 trillion number as follows. For all people say born between 1930 and 1939 what were the total present value contributions to all the entitlement programs via payroll taxes vs. what the expected benefits they will receive throughout their lifetimes. And do the same for those born between 1940 and 1949 and between 1950 and 1959 and so on. By dong so each group could see the extent to which they have contributed to this impending debacle and begin to accept their responsibility not just for their share but for being in the group the began a process of not paying their way and believing that was acceptable. I hope that you might concur that such an analysis might be helpful and would have access to the resources that might make that data available.
Lastly, I saw you on a segment of the Charlie Rose Show a couple of months ago. Paul Krugman was also a guest. During the discussion I believe Paul said that demographics were not a major contributor to the looming fiscal crisis. Is that true? And if it is, is the implication that healthcare inflation rather than the changing age distribution of the American population the biggest problem? You may have no greater understanding than do I on this subject, in which case I apologize for the question.
In closing, thank you once again for doing your best to waking America up.
Dennis Hunter
Felicia Hairr (Saturday, 29 May 2010 15:33)
THANK YOU for educating Americans to the crisis looming around the corner! I am a CPA and a lover of thrift, truth, and responsibility so your book definitely hit home with me. I have a couple of questions/suggestions.
1. Your discussion of taxes listed the top 5 most expensive tax breaks. Are the numbers representing state/local taxes, mortgage interest, and charitable contributions considering amounts in excess of the standard deduction? If not, then these tax breaks are greatly overestimated in terms of revenue losses.
2. Your book indicates there is a citizen action center on this webpage. I don't see one. Am I missing something?
3. I know you referenced the tea party movement in your book. I know you think their cries for lower taxes seem out of place at this point but I am a supporter of this grassroots effort. They have done a great job of reminding citizens that the government works for us, We the People, we do not work for "it". Also, many of the tea parties I have attended have been purely educational particularly on the Constitution. Have you considered uniting with the effort to promote further education on fiscal matters? It seems like a great conduit for your message.
Jon Eric (Monday, 31 May 2010 13:53)
Mr.Walker, I loved your book but I was disappointed that you never took into consideration the potential impact of single payer healthcare.Simplistically speaking the insurance companies charge 17% for administration whereas medicare charges 3%.
According to my math the elimination of the profit oriented insurance companies saves us 14% right up front so why not have medicare administer the whole new health system?
I continually hear about the rich being overtaxed but Warren Buffett on "Sixty Minutes"
stated that he is actually taxed less percentage wise than his secretary factoring in 15% capital gains tax on his investments.When Dwight Eisenhower was president the tax rate for the rich was over 70%.President Ronald Reagon reduced that to around 50% then the Bush 43 tax cuts for the rich were reduced to 35%.These numbers tell me that the tax rates for the rich are by far the lowest since the 30s.I live in New Jersey where our new governor
states that we all have to share the burden of the catastrophe on Wall Street caused by a gang of white collar criminals except those making over $400,000 a year because they are already overtaxed!Are all of our politicians spin merchants or do I have my facts wrong?
If your taxable income is between... your tax bracket is:
and %
and %
and %
and %
and %
and %
Dave Walker (Tuesday, 01 June 2010 16:00)
I have read all of the comments that have been posted since my last posting. Thanks to all of you who commented. In this one comment, I will attempt to address several of the issues that have been raised.
I would prefer a progressive consumption tax in lieu of income and payroll taxes. The FAIR tax is an attempt to move to such a system. At the same time, in my view, it is not politically feasible to go in one step from our current system to a FAIR tax system. In addition, the proposed tax levels in the FAIR tax proposal are inadequate to address our fiscal sustainability challenge.
I am not a supporter of cap and trade. I generally do not favor the federal government creating additional federal entities that have major roles in large sectors in our economy. We need to do something to address fiscal, carbon, energy and environmental issues. I may Co-Chair an effort in the near future to do just that.
President Obama's words in connection with fiscal responsibility have not always matched his actions. This is not unusual for a politician. In my view, calendar 2011 will be a big test year for President Obama in connection with fiscal matters.
There are a variety of heath care statistics that can be used and each one has pros and cons. At the same time, when making international comparisons, you need to use statistics that are readily available and reliable. One thing is clear though, we spend double per person what other major industrialized nations do for health care. This is both inappropriate and unsustainable.
As I stated in the book, we should declare "war" before invading a sovereign nation no matter what our justification might be. Americans should also be asked to help pay for the war since they cost, both in lives and money.
Individuals who are in heavy manual labor jobs could be given earlier access to benefits under Social Security. A vast majority of our economy is not based on such jobs. As a result, while they need to be recognized and addressed, government policy should be based on the vast majority rather than the vocal minority.
The Peterson Foundation is funding a major citizen education and engagement effort along with the MacArthur and Kellogg Foundations on Saturday, June 26. This effort will be run by AmericaSpeaks and will take place in 20 cities across the United States. It is unprecedented in scale and structure. Stay tuned for the results.
Conveying big numbers in understandable terms is important. We are always looking for new ideas. I find that per person and per household numbers help.
The tax expenditure numbers come from official government sources. Specifically, they come from the Joint Committee on Taxation who is the official scorekeeper for such information.
The Citizen Action center is on the Peterson Foundation web site at www.pgpf.org.
Felicia Hairr (Wednesday, 02 June 2010 13:18)
Thanks, David, for the feedback. I attempted to locate the tax expenditure numbers that tied to your stats but only found the table at http://www.jct.gov/x-32-08.pdf. Interestingly, this tax listing indicated the earned income credit along with the tax credit for children both cost Americans more than the state/local tax or charitable contributions yet you did not include these "tax preferences." Were you referencing another report? I would suggest listing the "tax preferences" in order of cost to Americans as the Joint Committee identifies in this report so that ALL tax preferences are identified by cost instead of those benefiting primarily the wealthy.
I watched the last AmericaSpeaks event via the website and thought it was excellent. It is my understanding, however, that the event on the 26th will not have opposing views presented but merely one host. I would have liked to have been a participant but Atlanta is not one of the sites. Also, apparently, the opinions of "community conversations" will not be collected for your report to governmental entities so I have not volunteered to lead a local group. I am slightly skeptical of the sites with prearranged "diversified" groups but I hope this engagement will provide accurate information to the Foundation. I look forward to hearing the feedback after the event.
Thanks again for all that you and the Foundation is doing to educate Americans!
Steve C (Saturday, 12 June 2010 14:33)
I perused your book quickly and have a few comments. On page 160 you state,"at the root of our problems is the functioning of our government - not the people, but the systems, processes, and cultures." I agree about the systems, processes and cultures but also think that a great deal of the problems of our government have proven repeatedly to be due to people just not doing their job effectively.
The other big problem in government is the same issue I raised with you once before - the GAO has no teeth regarding enforcement capabilities and verbal wrist slaps don't and won't stop the fraud, waste and abuse in government. When the legislators are the only ones having a vote on what the legislators can do then the same problems will persist. Where else for instance do the employees get to vote for their own compensation and benefits packages? And what about ethics violations where they all circle the wagons to protect their own as opposed to booting them out or legally prosecuting them.
Also, how can the government get away with basically no accountability or transparency by never having to be audited from the outside. No wonder there is no accountability and they do what they want when they want to do it. And with our money. This is the biggest ponzi scheme ever perpetrated and they just keep laughing at how stupid We the People are to let them get away with it.
I agree there should be term limits, but disagree that for legislators it should be 12 to 18 years. it should be two terms, just as it currently is for the President. This is a service to America job, not a lifetime career and free ride at someone else's expense.
I agree the government needs a future focus - a proactive future focus, instead of driving through the rearview mirror in a very reactive and disastrous manner as witness the current financial crisis and the oil drilling crisis. How can a country this large expect to continue to survive by having no real priorities except the next emergency. We must become totally proactive and forward looking instead of totally reactive. And we better get on with it because at the rate our government is screwing things up we are working on borrowed time in addition to borrowed money.
Michael shields (Sunday, 27 June 2010 16:51)
Question for David or anyone else who may know. I just read that a 3% deficit is sustainable. Right now I believe we're at about a 10% deficit and assertion is that getting it down to 3% should be the goal. Is this true. Don't we need to operate at a surplus in order to pay down our 11 trillion or counting unfunded programs 60 trillion dollar debt?
jay rosencrance (Sunday, 04 July 2010 08:38)
Enjoyed the book immensely! Comment on social security, you suggest increasing the cap on taxable wages to $150,000; have you considered removing the cap altogether, and what impact that would have on
increasing revenue? May take some of the pressure off raising the retirement eligibility age (not that I am against raising the age), or allow that change to implemented over an even longer period of time (ie greater than 20 years)...thanks again for the eye-opening read!
Bob N. (Wednesday, 07 July 2010 18:51)
The main thing that most people fail to recognize about the FairTax is that it is the only tax reform proposal that makes the entire economic pie bigger. All of the other proposals simply take water from one end of the pool and dump it in the other end; the level of the water stays the same (less what gets spilled). The Fairtax would create jobs and attract global business to the United States. The economic impact of growing the economy while making tax collection much more efficient would be nothing short of amazing.
There is nothing partisan about it. It is actually extremely progressive and arguably has greater benefits for the poor and middle class that the wealthy - despite what many politicians would have you believe.
John W. (Thursday, 22 July 2010 19:11)
I read your book,Comeback America, with interest, and would like to suggest a few ideas. The decaying infrastructure of the country and global climate change are debts we are passing on to the next generation. Although some dispute global warming, I believe Energy Secretary Chu and others do know what they are taling about and are not part of a vast conspiracy. With the bitterly partisan political atmosphere and the Tea Party pushing Republicans further to the right, a divided Congress is unlikely to produce any real reform. As you know the most common sense proposals such as end of life counseling are attacked as death panels and government sponsored euthanasia.Candidates in Oklahoma are vying with each other to be the most anti-tax.
There are some grounds for hope. Conservatives and Liberals in England have made progress on their fiscal problems. Alan Simpson and Erskine Bowles will present a report from a commission on fiscal responsibility early next year. For a real chance at success, I believe you, and as many financial experts, business leaders, retired military, and celebrities from as wide a spectrum as possible need to begin a national media campaign such as we are now seeing for drug court. We must hope Americans can handle the truth and will join in. An expanded 11th commandment of Ronald Reagan to not speak ill of our fellow Americans, along with a reminder to ask what we can do for the country might aid in focusing and moderating the debate. Thank you for your consideration.
jack clark (Thursday, 19 August 2010 15:03)
David
May I respectfully suggest you send a complementary copy of your book to every member of Congress? jack
Matt Wahl (Monday, 20 September 2010 18:31)
Great book, Mr. Walker. Thank you. Nearly without exception I agree with and endorse the proposed actions (yes, even if I get less as a result). But I don't understand why you would cap Social Security-taxed wages at $150,000. To me, if we're pursuing tough, new reforms, there should be NO cap. Manny Ramirez makes $25 million a year. Why should Manny pay virtually none of his income into SS when Joe laborer must pay 6.2%??? Again, thank you for the courageous book and for walking the talk.
CShafer (Thursday, 04 November 2010 12:13)
Hello and Good Job on your Book!
In an effort to jumpstart faith in Congress, would it be worthwhile for the PGPF organization to back a capable individual who would run for House or Senate on a simple platform:
To sponsor a bill as follows:
Congress shall enact no law that applies to the general population but does not apply to the members of Congress. Current Congressional medical benefits are terminated and Congress joins all Americans with our individual rights/obligations under existing health insurance laws. No special retirement benefits for Congress; they could contribute up to a maximum dollar amount similar to that allowed the general population with US taxpayers matching the sum contributed for each year they serve in office only.
If Americans felt members of Congress were in Washington to serve as opposed, at least in some instances, to benefit handsomely, I believe grassroots efforts to accomplish the worthy objectives you emphasize in your book would be greatly encouraged.
Bradley J. Delaney (Thursday, 16 December 2010 16:42)
This is the best book on public policy to appear in a long, long time. I hope Walker runs for President as a third-party candidate. Walker's approach is comprehensive, and I find very little with which to disagree. However, I would add a twelfth chapter,"Fixing Our Dysfunctional Economy". An outline of the problem is as follows: Our "Top-Down" economy is based on easy credit. Americans are encouraged to borrow and spend. Low interest rates make everything cost more. For example, real estate prices go up as rates go down, and conversely.Inflation is government policy. This induces people to buy now, in the expectation that things will cost more in the future.When equity prices or home values fall, we lower rates even further and print more money, encouraging more borrowing, more spending, and more debt. Deflation is virtually excluded, and nobody -- except perhaps the most irresponsible of the irresponsible -- is allowed to go broke. Policy also dictates a weak dollar, resulting in high prices because so many of the things we buy are imported. As America's cost basis continues to rise, it becomes progressively more and more difficult to compete on the world market. Furthermore, the low interest rates -- especially the ridiculously low ones used to bail out corrupt and mismanaged corporations and overextended real estate speculators during "recessions" -- serve to discourage saving. This economic model is clearly not working. What suggestions can be made for modifying it, or recasting it entirely, that are in accord with basic American principles?
Ralph Broomhead (Wednesday, 05 January 2011 14:16)
Enjoyed the book very much and am willing to try and do my part. There are however some flaws with your proposal to have Americans work longer. After turning 50, it became difficult for me to land a good job. I know they say there is little or no age discrimination. But it is out there. In order for people like me not to take my social security at 62 (which I recently did) there must be a willingness to employ older Americans. Also, when companies cut back, they cut their senior employees. Many companies have done this for the past 20 years. Now they pay the freight - more of us eligible recipients applying for social security benefits to help ends meet. My past 12 years were very lean so I had no qualms about taking it early. Combined with my 14k a year allowable income and social security, I am bringing in more than I have in over 12 years. Another point, love your recommendations on varying terms for reps and the Presidency. But let's make the Reps six years, too, and still hold elections for one third of them every two years. We do, however, already have term limits. It's called voting. I could go on about other things, but obviously there are many out there with responses to your educational and informative book. Thank you.
Amos Delay (Saturday, 29 January 2011 08:10)
Given the direness of your book, I can't say that I enjoyed reading it, but I am certainly far more informed of our nations fiscal challenges. Thank you for your passionate and tireless work. I have one question. How did you calculate the 42.9 trillion dollar "hole" owed to unfunded mandatory spending obligations. Is this figure an obligation only to the baby boomer generation or is it the total obligation to all employed Americans as of September 30, 2008?
Amos Delay (Saturday, 29 January 2011 08:13)
In other words, what is the time frame in which this 42.9 trillion dollars will need to be attained?
Bob Crain (Thursday, 03 February 2011 03:23)
Found much to think about in the book. I think the most important change is one that I have been promoting for years and that is limiting the terms of politicians ALL POLITICIANS in the US and here in Australia where I live. Eight years is enough long enough to do some good, not long enough to get lazy or worse! I will pass the book on to my daughters and recommend to all! thanks
Jim Zupanic (Saturday, 05 February 2011 13:02)
The book steers a course in between both extremes. The proposal for 12 to 18 year term limits is in my estimate about right. In Ohio we have much shorter term limits for state legislators. The problems with shorter term limits are briefly outlined in the book and they are showing up in Ohio.
Shortly after people are elected they are looking around for a safe place to land when their limits are up. They play musical chairs between the state legislature and positions like county clerk of courts and treasurer. They look for appointed positions on boards and commissions where they are at least somewhat harmless if not useful. They seek to get appointed to significant positions in the state administration where they do not really have the correct skills. Instead of the legislature functioning like the ideal citizen legislature we have in our minds it lacks institutional competence and yields to the bureaucracy, lobbyists and other interests of the capitol.
One suggestion I think would backfire is the suggestion to attempt to hold a national constitutional convention.
Al McDonald (Saturday, 26 February 2011 14:21)
I just finished reading for the second time David Walker’s book Comeback America. His is an outline of the existing structural fiscal deficits incurred by the inherent shortsightedness of the political body since the 1960’s and the shutdown of the American economic expansion since the end of the Cold War. The Peter Peterson Foundation focus, coupled with David Walker’s public relations campaign, addresses the crippling aspects of the American culture of debt driven by the body politic in Washington. It is a positive platform for educating the American stockholder about the structural changes needing to take place to put the governmental fiscal house back in order. With adequate controls over the reforms and future controls over Washington, refinancing the mess over 100 years may be necessary to provide for some way out of this generational catastrophe.
But the problem doesn’t go away with the necessary long-term adjustment to the house of cards which is Washington. The massive amount of dollars orbiting outside of the lower economy, in the current Fed-Treasury machination, along with the lack of a viable economic vision for America, hinders any prospect for jobs, personal income and ultimately revenue for state and federal governments. The answer must be a four-pronged approach to restore the hope for the world, which is the traditional America and the vehicle for disseminating this message to the American people must be put into place.
First, is removing the toxin of debt, which has become Washington. Between the Tea Party movement and organizations like the Peter Peterson and Heritage Foundations, this first element has taken root.
Second, the velocity of money issue has to be addressed. The massive treasury debts and expected inflationary tsunami are burdened upon countless millions without benefit. The massive cloud of Federal debt instruments are hindering participating by the banks in the lower economy rather than advancing their participation - reference A Better Tomorrow Article: http://bettertomorrow-holymoly.blogspot.com/. The treasury issuances act as a safe-haven rather than a catalyst for capitalization of economic activity and are crowding out competing private sector investment.
Third, the economic engine of the world, which had been America since the turn of last century, has been stymied by the progressive aspects of the expansionary Federal Government and its self-serving corruptive nature; initiating actions detrimental to the country. Our domestic energy sector is in lockdown, our tax policies are non-competitive and costly to administer, the cost of labor is risk prohibitive, and free trade has turned into a blatant wealth draining exercise. The nation concept must be reinvigorated and domestic and external safeguards to the American economy put firmly in place.
Finally, the societal ills caused by the attack on the American culture by domestic interests needs to be addressed. The concept of being an American and the contrast this notion has to the cultures of the rest of the world must once again find its way into our school systems. The social activism of the Federal government and through the actions of the judiciary must be challenged based upon constitutional means and once again left to the states to manage.
L Kendall (Tuesday, 15 March 2011 00:11)
Our problems are huge. I appreciate Mr. Walker's (and the rest of you here commenting) getting more and more people's eyes open. We're like a battered woman, going back and forth between the parties, each beating us unmercifully. Our cultural lethargy and our willingness to take bread and circuses over prudence has nearly ended us. It may yet, but I appreciate Mr. Walker's hopeful tone, and this place for people to work on solutions together. I like some of the ideas presented here and in the book, others I'm not sure will work or how we could get there from where we are now. I didn't see G.O.O.O.H. (Get Out of Our House) mentioned here, so I'm going to plug that as one option. It fits the criteria: non-partisan, focused, and it helps us take action this election cycle. Plus, it already has some mass.
Also, I'll mention Taxavist.com because it's another place people are coming together, specificaly around tax reform.
Term limits are vital, (even Glenn Beck believes in them) but I think Mr. Walker's criteria of 12-18 years is just right, because it's long enough to learn the job, and yet short enough to keep it fresh. That also brings it closer to the realities of most American's careers: no one works at one place forever anymore.
In addition to Mr. Walker's proposal to fix redistricting, I'd like to add this one: let's cut every district in half and assign it TWO Reps. I know, I know, you're thinking I'm crazy to suggest adding personnel. But in the Constitution it allows for up to one per 30,000 people. Right now, each rep is trying to represent 500,000! Impossible. What's actually happening is that a lot of the work is being done by staffers, who aren't elected, and therefore, have no accountability to us. If we actually went with the Constitution, we'd have almost 10,000!
Jerry Windham (Wednesday, 16 March 2011 12:49)
I love your concept of increasing fiscal responsibility but the solution to a failing Social Security system is not to put more money in the same pit. We need to address the root causes of Retirement shortfalls such as failure to plan soon enough or at all and poor management of retirement investments - both easily resolvable.
I can show you how to reduce Social Security taxes without also requiring an additional 2 - 3% savings "tax" while increasing retirement funding and decreasing the retirement age.
Better funded earlier retirement would also have the effects of decreasing unemployment and welfare costs and creating jobs and improving the overall economy. Millions well funded earlier retirees would open millions of jobs to those otherwise drawing unemployment plus many that are currently drawing unemployment could retire with dignity. Higher retirement "income" would also get many retirees off welfare plus these millions of well funded retirees would be more active consumers and many could start new enterprises both creating more jobs and economic stimulus.
Please contact me for more information.
James E. Nielsen (Thursday, 07 April 2011 20:51)
I have just read your book and I am in full agreement with the exception of one point: What about the trade deficit? From my reading and knowledge it is contributing to the national debt the same as the budget deficit is. Am I missing something? I believe we need to address spending, increase taxes and decrease our trade deficit to a sustainable level if we are to restore fiscal integrity to our nation. Comment? Sincerely, James E. Nielsen
John Stroud (Friday, 15 April 2011 07:30)
Nothing is mentioned about foreign aide and foreign military aide which amounts to billions.Do we cut these before cutting social security?
David Walker (Friday, 29 April 2011 17:53)
Thank you all for your interest in this book website and for taking the time to express your views. Some of you may be aware that I’ve launched a national campaign around the theme of my book, “Comeback America,” called the Comeback America Initiative (CAI). CAI is a non-profit organization dedicated to the promotion of solutions to restore fiscal responsibility and sustainability in this country. Please visit our web site at www.tcaii.org to learn more about what we do and sign up for our mailing list.
There are many problems facing our nation and there is no one-size-fits-all solution. Nonetheless, there are a number of questions and comments brought up on this web page in the past several months that I would like to address. They are outlined by subject below:
Political Reforms
We currently have a dysfunctional democracy where elected officials seem removed from mainstream America. Our elected officials need to lead by example, especially if they wish for the American people to make sacrifices. Our government – a government of the people, by the people, and for the people – should be designed to make sure that elected officials are sharing in our success, challenges, and pain.
We also need to work to achieve redistricting reform, open primaries, campaign finance reform, and more viable term limits in order to revitalize our democracy. Today’s political system is too partisan, ideological, confrontational, and incumbent-oriented.
Our elected officials should only hold a particular office for a limited number of years to help prevent individuals from making a career out of politics. These officials also need to recognize that they are elected to govern, not campaign.
Members of the U.S. House of Representatives have to worry about re-election every 2 years, leaving little time for them to do their job if they intend to keep their job. Giving House members four-year terms and limiting federal service in a particular office to 12 to 18 years would help to give officials more time to govern while facilitating needed transformational changes that often require tough and controversial choices.
Budget Controls
Various budget and deficit-reduction proposals, and related political rhetoric, have been in the news as of late. Some have proposed limiting federal deficits to a stated percentage of GDP. In my view, a better approach would be to impose annual statutory Debt-to-GDP targets with automatic enforcement mechanisms (e.g., spending cuts and temporary tax surcharges) that will help to ensure that we achieve a prudent and sustainable level of debt over a reasonable period of time. An example would be to shoot for 70 percent of public debt/GDP by 2020 and 50 percent by 2035.
Taxes and Spending Cuts
There have been many proposals to raise taxes on the rich to fix the country’s problems. The truth is, we simply cannot tax our way to fiscal sustainability. In addition, taxing the rich alone will not come close to addressing our structural deficit challenges. Increasing the cap on the Social Security payroll tax above its current level, or removing the cap entirely, also doesn’t address our spending problem. That said, cutting spending alone will not fix our nation’s problems either.
While many think that cutting military and foreign aid would fix our budget problems, they are wrong. Military and foreign aid should not be exempt from cuts, but in the big picture we need to reform our social insurance contracts and reduce direct and indirect (e.g., tax preferences) spending at all levels. However, simply cutting military and foreign aid will reduce, but not stop, the rising tide of our nation’s debt.
Demographics
Many people want to blame our financial situation on a particular generation. But the truth is, the trillions of unfunded obligations which we have accumulated as a nation is not strictly due to the retirement of the baby-boomers. These obligations also have to do with known demographic shifts, including changes in birthrates and life expectancy. The boomers are a large part of the related unfunded obligations, but they are not the only part. Rising health care costs for all generations also contribute greatly to our fiscal challenge.
Trade Deficit
Some want to blame our mounting debt on the trade deficit. But the trade deficit the U.S. has with other countries has little to do with federal fiscal policy and does not directly contribute to the federal government’s debt. A trade deficit, or surplus, is the result of importing or exporting goods from or to another country. When the U.S. imports more than it exports from a particular country, it leaves that country with excess dollars it can keep in a foreign exchange reserve or invest in the US government’s treasury bills, bonds, etc. This does not necessarily contribute to the U.S.’s fiscal deficit, but it can help finance it.
tori (Monday, 09 May 2011 12:59)
I have been a nurse for 20 years,and I have seen some unorthrodox methods of dealing with emergencies,all in the name of saving a life. Inadvertently the doctors both risked their careers and their reputations.No to mention setting themselves up for a lawsuit;However,the life was saved,and the doctors great bravery perpelled him to distinction,amoung his peers. Still on I have noted some doctors in this position that used this arena as a soap box, to ridicule all other doctors or the doctor that should have not caused this condition in the first place. But the real ,real, heros are the unsung ones. The ones that did not point the finger,but roll-up the sleeve and do the job!!!!!!!!!!!!!!!
christine miller (Monday, 23 May 2011 11:23)
You are so right about 51% of Americans not paying taxes, although you should say 51% of people living in US are not paying. that is because many many large companies are hiring illegals. I do not know how they get away with paying cash. Many workers are sending money back to their home towns in Mexico or Equador or whatever. This is a situation whereby the President is not concerned about the citizenship. This, I believe is the major problem in our job situation.
WES HERMAN (Monday, 23 May 2011 16:29)
I concede that we are spending out of control. Most of the poor ex lawyers in both houses of congress couldn't find their moral compasses with a map and a guide dog. Andrew Jackson paid off the national debt during his time in office as our president, because he shut down the privately held, Rothschild controlled, Bank of the US and started printing our own money, debt free Lincoln funded the war effort and paid for it with Green Backs. They were printed by our Government, for the purpose of commerce, not debt creation and control of our entire way of life, by the same Debt cartel who owned and created the Bank of the US and it's current iteration, the Federal Reserve. President Kennedy signed a presidential order to begin printing our own money and was dead 4 months later. We know what happened to Lincoln. Many don't know that an attempt was made on Jackson's life. Both muskets misfired and the assassin admitted to being hired by European banking interests. The online movie titled, "Money Masters," made in 1995, predicted to a "T" the credit contraction of 2008 and resulting collapse. We all could benefit watching it over and over until we realize that the major reason we are in financial trouble is that, "The Debt Cartel" very carefully constructed this trap and sprung it very skillfully as they have every 80 years almost like clock work since 1743. Watch Money Masters and if it makes sense to you as it does to me, a partially educated, retired firefighter, please share what you learn from it with anyone you know who still cares about our great country. It ain't over till it's over and it ain't over yet.
Fred Lucia (Saturday, 02 July 2011 10:53)
Mr. Walker
In assessing our current Presidents promises,whether or not delivered on and spending proposals where do you think he stands now? in mid 2011 after two&1/2 years. I realize when you wrote the book you only had his promises as your guide.
To me it looks scarey at best.
Virgil H. Soule (Saturday, 23 July 2011 12:44)
Mr. Walker says Social Security recipients won't be paid because of the debt crisis thing. Social Security is funded out of FICA taxes, not Federal Income taxes. FICA has been running a surplus for more than 20 years and the excess in the Social Security Trust Funds is now more than $2.6 trillion. What's going on? Is Treasury playing fast and loose with tax money between the General Fund and designated sources? The money in the SS Trust Funds was "invested" in the U.S. Treasury in one of those litle sweetheart deals the liberals in Congress like to do. That "investment" is at the same level as me purchasing bank certificates of deposit. The interest paid is less than 5%. American retirees - present and future - deserve better. Take that money out of Treasury and invest it in the free, capitalist market where it can produce a decent return on investment! Insurance companies and well-run pension funds have been doing that for decades. If it works for them, why not also Social Security?
Salome (Monday, 25 July 2011 07:10)
How can the majority of people pay income taxes when their wages are low, and stagnant? How can people save for their retirement when banks pay little or no interest on savings accounts? How can people save for retirement when employers no longer pension plans?
RGC (Monday, 25 July 2011 11:16)
As a solution to the debt ceiling controversy, Congress should pass a law that promotes bipartisan compromise and has teeth. It could consist of the following elements:
1. In phase one, an immediate interim agreement to raise the debt ceiling by $1 trillion (or other agreed number) accompanied by an agreement for an equivalent amount of agreed cost savings.
2. A statutory mechanism to improve the chances for a bipartisan proposal like the Gang of Six proposal or the Simpson-Bowles Commission proposal would be adopted. The legislation would provide that a "qualified bipartisan proposal" would get expedited treatment (particularly in the Senate) and be entitled to an up or down vote without amendment. If there is more than one qualified bipartisan proposal in th4e Senate or House, the one with the most bipartisan support would have priority.
3. A " qualified bipartisan proposal" would be defined as a proposal which meets agreed-upon contours, such as a minimum of $3 trillion in deficit reduction, not less than $8oo billion in net revenue increases and whatever else is agreed to and generally consistent with the existing bipartisan proposals. In order for a proposal to be considered bipartisan and qualify, it would need to be sponsored by at least 30 Senators, including seven Senators from the other political party. In the House, a bipartisan proposal would need to be sponsored by at least 130 representatives, including 30 from the opposite party. Once a qualifying bipartisan proposal is introduced in either the House or the Senate, the debt ceiling wolud be raised an additional agreed amount (e.g., $500 billion.
4. If these procedures do not produce an agreement by November 30th, an eight-person bipartisan deficit reduction commission would have authority to make a new proposal within the specified contours which will be entitled to an up or down vote without amendment in the House and Senate. After November 30th, the bipartisan commission would also have delegated authority to raise the debt ceiling, direct an across the board sequestration of funds and/or take other agreed-upon measures if no deal had been struck.
Fredrerick G. Tripp. Ph.D. (Monday, 01 August 2011 09:56)
The book is right on the money. (Quip) Very specific on the Nation's problems and recommendations to correct them. However, I have little faith in much, if any, of the recommendations being implemented. The politicians and their cronies just about have a lock on our government and I have little faith in the citizens being active enough to change the situation. I guess we can hope.
Joe Reddix (Monday, 12 September 2011 11:49)
I am looking forward to hearing you discussing “Leveraging IT for Effective Government Healthcare Programs” as related to direct implications of these nationwide changes for citizens, businesses and public sector organizations at the Willard Hotel in DC on October 6, 2011. Global Healthcare has to be a near trillion dollar opportunity to take what is developed in the areas of Health IT in the US into this emerging Global Market. Your strategic discussions’ in “Comeback America” are an exciting definitive and strategic read. I can only hope all who read it understand its implications to all Americans’.
John day (Monday, 31 October 2011 14:01)
America needs to become the "sharing pot.". First, decide what tax rate we can levy on our corporations and citizens while being competitive with the rest of the world. Second, pass an amendment stating government can only spend what is raised in taxes, a variable cost model vs fixed commitments. Congress can decide what percentages of the total go where but not what the total is. Every recipient of government funds operates on a variable revenue basis each year. We can all go to work making the pot bigger because we know that the amount we spend on the military, healthcare, entitlements, social security, education ,etc is directly tied to how much we produce. We could stop vilifying the 1 percent and start holding award banquets for those who put the most in the pot. We would recruit immigrants who could put the most in the pot. We would move our best and brightest out of the investment, legal and tax industries by taxing short-term gains at 75 percent, limiting court awards, and simp lying the tax code so that we don't need tax accountants to file our returns. Our best and brightest would then be encouraged to pursue engineering, science and entrapreneurship creating an even bigger pot. A clear message. "a bigger pot means more for all.". We've taught the rest of the world about capitalism, their better competitors today than they have been in the past 200 years. We need to move to the next level.
Gerry Hounchell (Tuesday, 22 November 2011 09:03)
How can you, Mr. Walker, and I change the course that America is following? I appreciate your talk this morning on C-Span and a Mrs. Sloan that has followed your comments with her own similar statements. She and you have the right idea, vote them all out! I am going to get more involved with the Tea Pary and hopefully make a difference, but would like to hear more from you on the subject of changing the methods our congress uses to raise money.
Jay Rosenberg (Tuesday, 22 November 2011 15:21)
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Jared (Thursday, 08 December 2011 16:26)
Why doesnt Dave Walker run for President?
Frank Gilbert (Wednesday, 21 December 2011 15:58)
David I got in on your talk of Come Back Americ on Msnbc I am seventy years old Vietnam Veteran. Everything you say that needs to be done is true. America must crawl before it can wolk again. The tax code nust be our no 1 reform before we will have a financial chance to survive. Sir you and your indever must figure a way to file a class action federal law suite to kill the present tax-code. Afair 10%/ 10%/5% flat tax on individual, bussness and sales tax with no deductions tax breaks of any kind will work. David the house 535+ must go to two house representatives just like the senate. One more sugestion. High-speed rail between each interstate that runs on electricity can start our steel mills back foundries and thousands of good paying jobs.
May God bless you and who ever else decides to fight for our grand kids future, We can do it.
Steve Pettee (Saturday, 31 December 2011 12:07)
Under the 6 Simple Steps, not sure why you didn't include to BUY AMERICAN, i.e., buy from US manufacturers and forego any items made in China to save US jobs and stem to the currency flow to China. If you can't find it in the US, then don't buy it at all.
Also, I would like the Peterson Foundation to list every representative seeking re-election and to have them state what their plan is to reduce the Federal debt. If they don't have a viable plan, then they shouldn't deserve our vote.
Mr. Walker, keep up the good fight.
Edward Davis (Thursday, 19 January 2012 08:43)
David--Saw you on Morning Joe today. I very much liked your inclusive (non-partisan) perspective. I hope to hear more from you. Thanks.
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