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Comptroller General Warns of the Fall of Rome

Newspaper current event by willwaddell on 14 August 2007, tagged as government

He has likened the current U.S. situation to the fall of Rome. David Walker, the current comptroller general and head of the Government Accountability Office, warns of a dire future based on many government policies. Highlighting what he believes are unsustainable practices, Mr. Walker expressed serious concern about the potential for "an explosion of debt" and warned about "declining moral values and political civility at home, an over-confident and over-extended military in foreign lands and fiscal irresponsibility by the central government." Without serious change to financial practice Mr. Walker believes the U.S. could face "dramatic" tax hikes as well as severely reduced government services. Such hot-button issues as Social Security and Healthcare reform sit high on the GAO's list as these entitlements tie down an ever larger portion of the GDP. Mr. Walker has urged the presidential candidates to take fiscal responsibility to heart, saying the "risk of a serious crisis rises considerably" if they do not.

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Old News by smcbride :: NR6

Yep, it's the end of the world as we know it. Same old song, just a different verse, wake America!

Posted 14 August 2007, Hide, Reply
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Hiking taxes is NOT the end of the world by gheorghe :: NR5

While I don't particularly enjoy giving more money away from my paycheck, hiking taxes is NOT the end of the world. Europe did not collapse under generous welfare programs, nor did Canada. Nor will the United States collapse from a slight readjustment in the economy. Case in point: the Great Depression. 15 years, a world war, and some hard lessons learned later, America was chugging along.

Now on the public services issue, Americans are too spread out now (blame it on American car companies and ridiculously low gas prices that most Americans don’t seem to appreciate now) to pretend the same level of public services their counterparts in Europe or Asia enjoy. Maybe one day, when gas prices will be at least similar or higher than the rest of the world, or whenever we run out of the greasy stuff that makes the world go round now, Americans will be ok with taking that reliable bus from their TOWNhouse (not single family house located 3 hours from their job).

Also, I find amusing, if not narcissistic, and somewhat arrogant that some Americans like to compare their democratic society with the good ol' Roman Empire. Enough already, we've heard too many doomsday end of the NEW Roman Empire stories. I am sure the Brits or the French thought the same way when they were fighting over whom gets to colonize the swampy, mosquito-laden piece of land that is now Louisiana.

Posted 15 August 2007, Hide, Reply