Flashback 2007: US Headed for Fiscal Crisis?

Talk about a wake up call in 2007.  David Walker, former US comptroller, gives 60 minutes a doom and gloom picture that is ominously magnified today.  And guess what it all centered around? Rising health care costs.  Although, I think that’s probably the only point of agreement that he would share with the current administration.  Given that he was very critical of the spending during Bush administration, I wonder what he’d say about or Spender-in-Chief.  Here’s a quote:

“The prescription drug bill was probably the most fiscally irresponsible piece of legislation since the 1960s…We’ve promised way more than we can afford to keep.”

Watch to the end for some retro fiscal advice from Kent Conrad.

cross posted at www.therightscoop.com