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Former U.S. Comptroller General David Walker on how to reduce the government’s deficit through steps such as Social Security reform.
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Kinda -- -- let's bring it back home because in this hour Fitch has reaffirmed the triple A rating for the United States credit and the super committee was no help at all for that.
They were a failure we know this but this next deficit -- has some thoughts on how to fix the debt crisis by 2013.
David Walker's a former US comptroller general he joins us now from Stamford Connecticut David wonderful to see again.
David give us something specific something we really get our teeth into what would you do that they are not doing inside the beltway.
-- yet to be honest with the American people the government has grown too big promise too much and waited too long to restructure we can't solve our problem through growth we can't solve it to inflation.
We can't solve it just to spending cuts we we can't solve it just two additional revenues.
We're gonna have to put everything on the table with -- -- -- one for exam sample we're gonna have to reform Social Security.
Two look at dollar real retirement eligibility age is.
To strengthen the benefit for people near the poverty level over over 85 -- -- to provide somewhat last four.
Other people on that otherwise is promised would still an adequate benefit.
We're gonna have to rationalize our promises on health care we're gonna have to impose a budget.
On health care when the only major industrialized country doesn't have one we're gonna have to get out of the business of providing 75%.
Taxpayer subsidies.
For individuals who were well off from voluntarily sign sign up for Medicare is voluntary programs and we're gonna have to cut defense and other spending without compromising.
National security while reforming our tax system in ways that will make it simpler fairer more competitive and generate more revenues.
David I agreeing.
A 100%.
Especially with what you say about wealthier people not getting in on social security and having to opt out of some of the free Medicare.
That is offered there -- -- That's super committee didn't even come close didn't even scratch the surface of any one of those -- baby the retirement age about a 100% sure but that was about it.
Nothing came of -- how do we get what you just outlined in to reality.
We'll force that super committee was not set up for success you have to people that didn't vote to debt and raise the debt ceiling.
You had four people that voted against Simpson -- all six Republicans.
Signed the Americans for Tax Reform pledge.
You didn't have anybody that was for Simpson -- on it well we have to do is recognize that Washington is out of touch and out of control.
That has been taken over by the extremes on the right -- the left it's dominated by career politicians.
We have to take a page out Ross perot's book.
Go the American people in 2012.
It may have to continue an early 2013.
With a citizen education campaign.
That will help them understand where we are.
How we can move forward and the consequences to our country and their families if we fail.
To do so David one key question that needs to be asked here in the president Obama's increase the size of government 25.
Percent huge increase in the size of government.
Do we have to decide as a nation whether we -- keep that 25% increase or cut it back to where was.
We absolutely do what should the government.
Do.
What level of government should do it how should do it and how we gonna finances.
In 18100 the federal government was 2% of the economy.
This past year it's about 24% of the economy.
And when we need to answer all those fundamental questions by the way they've never been asked and answered.
Before.
I think also we need to acknowledge that part of -- the road block is being formulated by.
By the voters themselves they have voted people -- Who will do what they want them to do and that is protect Social Security protect their Medicare benefits.
Or protect let's take it to the wealthy protect their status is getting.
All kinds of a tax breaks and things like that.
I just it it's it's almost -- we can't figure out how to get over that -- -- or around it.
With the truth.
They're not used to being told the truth definitely by elected officials.
And special interest groups look I've been to 49 states doing town hall meetings business community leaders.
College campuses when people get the facts we understand the truth the whole truth and nothing but the truth.
They get it.
If there elected officials won't tell two -- them that we're gonna go around and we'll throw that away from people to get the truth just like Ross Perot did without having to have somebody run for president.
Because they're all kinds of technological capabilities available today there were not available in 1990.
Two we're gonna make the first -- -- the constitution come alive we the people.
By the way you mentioned Ross Perot twice of course he famously ran as a third part -- he got 19% of the vote.
Some people say cost bush the election and -- do you -- are you saying that we should have a third party candidate.
No I'm not saying we should have a third party candidate what I'm saying is that we should have an issue campaign.
A national issue campaign.
That deals with fiscal responsibility -- sustainability that was the basis of Ross perot's campaign.
Today you don't have to run for president.
To be able to conduct a national issue campaign because of technological capabilities are available today that we're not available in 1992.
-- -- on the.
Seems like Simpson Bowles told Americans the truth and then.
Couldn't get it done overall with the super committee let's -- there's some future here with some of those ideas.
But Liz here's the problem neither Simpson Bowles nor to -- -- Roland.
Nor the super committee nor -- nor any of these so called bipartisan groups have done anything to engage the American people outside Washington's cocoon.
Also known as the beltway but you have to go outside while I have but we need to do more than just me because I'm -- miss one you miss one state you said he only went to forty now what's the once they you -- Alaska and I won't go there if we are just -- little -- Are unable -- understood David thank you very much a lot didn't -- right thing he'd I would UK well I think -- by.
