Former comptroller General of the United States David Walker has compared our financial labor pains to the collapse of the Roman Empire. I have been making a similar argument for many years-mostly
to deaf ears, rolling eyes, and a shrugging of
the shoulders as if to say “what’s the point?” Well millions of Americans have finally gotten the point, and it has only taken global panic and
bail outs aplenty for them to get the message.
In a headline from ” The Trusted Professional” ,
a journal of New Yorks C.P.A’s, Walker is quoted as saying the
U.S. Government is “unsustainable”-You said it, brother. Walker
estimates that underfunded entitlements will grow by two to
three trillion each year, even if the budget is balanced.
Conservative estimates place us in a nearly 11 trillion dollar
hole. But Mr. Obama and Madame Nancy P. are going to take care of that,
right?
Mr. Walker attributes Rome’s collapse to four things: “a decline
in moral values, an overconfident and overextended military,
fiscal irresponsibility by the central government, and inability to
control one’s borders”. Neh, that doesn’t sound like us, right?
Besides, it can’t happen here because, well let me think, we’re
different. History always repeats itself unless drastic steps
are taken and the historical context is understood. I’m sure a
$15 billion bailout of the big three auto makers will prevent the
collapse of a culture-wait, how about a huge investment in
green energy? I’ve got it-let’s have Rick Warren of Christianity
(lite), speak at the new president’s inauguration-that oughta do it. No, lets see, why don’t we….
