Another SOTU view - Obama clueless on deficits

David Walker: Obama Has "No Coherent Strategy" for Tackling Deficit or Creating Jobs


Every good fight needs a good strategy. But, the fiscal fight this country has been battling for the last few years hasn’t got one says David Walker – the so-called “Paul Revere” of fiscal responsibility.

“We have no coherent strategy to be able to improve our competitive posture, to be able to generate job growth [or] to be able to deal with our structural deficit,” says Walker, Founder and CEO of the Comeback America Initiative and also the former U.S. Comptroller General.

If Walker is right, the United States is in serious trouble. This year the U.S. deficit will hit $1.5 trillion and if left without remedy will grow to $18 trillion by the end of 2021.

President Obama touched on our dire deficit situation during his second State of the Union last week, but Walker felt he did not go far enough. He believes as the executive of the country President Obama should have laid out specifics on out how to move this country forward. “We heard a lot of talk about it in the State of the Union,” he says. “We hear a lot of talk about it from politicians on both sides of the political aisle. It is time for action. We need results, not rhetoric.”

Comment: the Comeback America Initiative

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