Former Comptroller General David Walker to engage public on need for fiscal solutions
BRIDGEPORT, Conn., July 25, 2012 /PRNewswire-USNewswire/ -- The Hon. David M. Walker, former U.S. Comptroller General, today announced a first-of-its-kind national bus tour to engage Americans about our nation's deteriorating financial condition — and show them what they can do to help restore fiscal sanity.
The "$10 Million a Minute Tour" will help voters understand that we face a fiscal cliff in January 2013 and a possible U.S. debt crisis within the next two years.
No matter what progress we make to improve economic growth and generate jobs, our nation's current fiscal path puts our collective future severely at risk: jobs, education, health care, a secure
retirement, infrastructure, national security, mortgage rates, an effective social safety net to prevent more poverty, and the success or failure of thousands of businesses.
Yet every minute, our nation's financial hole gets deeper by about $10 million.
The Comeback America Initiative (CAI) has developed a U.S. Financial Burden Barometer (Burden Barometer) to supplement the "National Debt Clock." The Burden Barometer is a far more accurate measure of our financial situation, since it includes both total liabilities and unfunded promises (e.g., Social Security and Medicare).
"We are at a crossroads in America. Our political leaders can keep hiding their heads in the sand and continue toward economic catastrophe. Or, they can take an honest look at our situation, and
lead us by pursuing nonpartisan solutions, that can address our challenges in an effective, equitable, moral and sustainable manner," said Mr. Walker.
Mr. Walker will kick off the tour in Manchester, N.H. on Sept. 7. From there, the bus will make its way to New York City, then on to at least 16 states, including swing states and key districts.
A who's who of national leaders support the tour, including:
- Former Senators Alan Simpson (R-Wy), Pete Domenici (R-NM), Sam Nunn (D-Ga.), and Judd Gregg (R-N.H.)
- Former Rep. Harold Ford, Jr. (D-TN) and Tom Coleman (R-MO)
- Hon. Erskine Bowles
- Former Director of the OMB and CBO Alice Rivlin
- Former Chairmen of the Federal Reserve Alan Greenspan and Paul Volcker
- Former DNC Chairs and Governors Ed Rendell and Roy Romer
- Former RNC Chairs and Senators Bill Brock and Mel Martinez
- Former Presidential candidate H. Ross Perot, Sr.
- Former AARP CEO Bill Novelli
- Former Lockheed Martin CEO Norm Augustine
- Former SEIU CEO Andy Stern
- Former Deloitte CEO Mike Cook
- Sojourners CEO Rev. Jim Wallis
- Former HP CEO Carly Fiorina
One measure of the enormity of our problem is that things have actually gotten worse since H. Ross Perot Sr. spotlighted the issue during his presidential campaign. "Our nation's debt is about four times higher than when I first ran for president in 1992. It's time to defuse our ticking debt bomb," said Mr. Perot.
The former Comptroller General of the United States and a former Trustee of Social Security and Medicare, Mr. Walker is currently CEO of the Comeback America Initiative. Mr. Walker will be joined by other fiscal experts at various stops on the tour.
Please visit the bus tour's web site at www.10MillionaMinute.com for graphics of the Burden Barometer, a full list of high-profile bus tour supporters, and the tour itinerary.
SOURCE Comeback America Initiative