Former U. S. Comptroller General David Walker said the economy and government debt should be Americans’ top priority on Election Day during his speech at AU on Oct. 9.
“Spending is a bipartisan problem and it’s been out of control since 2003,” Walker said.
Walker’s speech was the last stop in his “$10 Million a Minute” bus tour across the nation. AU students, faculty and staff filled up the University Center, leaving few seats vacant.
Walker said the president needs to fix the economy as the chief financial officer.
“The country’s financial situation is worse than politicians will admit,” he said.
Walker said America is in a “federal financial sink hole” that the millennial generation will have fund.
He emphasized the presidential candidates need to address three main issues: the economy, jobs and fiscal responsibility.
Walker said Greece is the only country facing a more severe debt than the U.S. and serves as an example of what could happen if the country does not take action soon.
Politicians should focus on reforming the Social Security and Medicare programs because they receive the largest amount of federal funding, Walker said.
As the baby boomer generation enters retirement, more Americans will rely on Social Security benefits, putting pressure on the economy, he said. Politicians need to pass legislation that will gradually increase the age at which citizens receive Social Security benefits, Walker said.
“We are on a path to a crisis,” he said.
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