University of Southern California

Fiscally Speaking With David Walker
Marshall Hosts CEO of the Comeback America Initiative
November 9, 2011 • by News at Marshall

Dave Walker, the former comptroller general of the United States, says America has something to worry about.

"We all know that the economy is very weak right now, that unemployment and underemployment is very high, and that we have an increasingly interdependent and connected global economy," said Walker. "But the truth is, if we don’t put the nation’s finances in order were going to have much bigger problems down the road."

In an event hosted by USC Marshall on Oct. 26, Walker warned students and faculty about our nation’s out of control spending and mounting debt issues. He explained that before the debt ceiling deal, the federal government was spending $4 billion more than it generated every day, and that our fastest growing expense is interest.

"Unfortunately what we’re getting today in Washington with both political parties is laggard-ship, not leadership," said Walker. "That is waiting until a crisis is at the doorstep and not acting with due diligence and calling it leadership, when it is laggard-ship."

Walker’s speaking tour promotes fiscal responsibility and sustainability by engaging the public. He stressed that the issues our country faces are not tied to any political party, but instead are a result of bi-partisan, irresponsible spending. According to Walker, a pressing issue is our income tax system, which exempts 51 percent of Americans from paying any tax while generating a median 18.8 percent effective tax rate for the top 1 percent of earners. He stresses dramatic and fundamental fiscal reform to revive the economy, along with creating growth, innovation and increasing exports in the private sector to stimulate employment.

"We are at a critical crossroads and approaching a tipping point. Young people need to be more informed and involved—this is your future and I implore you to do that," said Walker.

Walker is the author of three books, with the latest titled Comeback America: Turning the Country Around and Restoring Fiscal Responsibility. He is a frequent writer and media commentator and is a subject of the critically acclaimed documentary I.O.U.S.A.

About the USC Marshall School of Business
Consistently ranked among the nation's premier schools, USC Marshall is internationally recognized for its emphasis on entrepreneurship and innovation, social responsibility and path-breaking research. Located in the heart of Los Angeles, one of the world's leading business centers and the U.S. gateway to the Pacific Rim, Marshall offers its 5,700-plus undergraduate and graduate students a unique world view and impressive global experiential opportunities. With an alumni community spanning 123 countries, USC Marshall students join a worldwide community of thought leaders who are redefining the way business works.