Oct. 3, 2006
U.S. Comptroller Says Public Concern    is Crucial to Deficit Reduction
By Andrea Ferdinand

While many Americans may not fret over the growing U.S. deficit’s effect on their daily lives, U.S. Comptroller General David Walker and his colleagues explained that for reform to take place, the country needs its citizens to lead the rally for change.

“No change will come about unless the three most powerful words in the constitution come alive: we the people,” Walker said.

Walker’s premonition was echoed by representatives from the Brookings Institution, the Heritage Foundation and the Concord Coalition at a panel discussion on the government’s growing fiscal debt held at the McCombs School Sept. 28. All panelists acknowledged the severe implications of the country’s increasing deficit, and they emphasized that debt continued to grow due to the lack of leadership and motivation among government officials to create a more stable economy.

“Our financial condition is much worse than advertised,” Walker said. “Our debt is not like a heart attack or stroke, it is a cancer—a fiscal cancer.”

Diane Rogers, research director for the Brookings Institution, added that the government currently only evaluates budget problems on a short-term basis and fails to prepare for the future.

“We’ve known about the baby boomers retirement ever since the babies were born,” Rogers said, noting that even though there is an understanding about the budget problem, very little is being done to reconcile it.

So how can the U.S. escape this deficit without ruining the economy? It’s simple, said Walker. “Implement the rule of holes: when you are in a hole, you stop digging.”

While it may seem simple, Walker noted that it will take 20 years or more to see results. He offers a few suggestions to achieve this goal, including re-imposing budget controls, reforming entitlement programs, raising revenue and cutting spending. But as critics point out, cutting spending may hurt industries.

“There is short-term pain, long-term gain,” Walker said. “We are mortgaging our future, our children and grandchildren’s future at record rates. Tough choices are required, and the sooner the better.”

Harvey Zeeve, national field director at the Concord Coalition, suggests another approach to reducing the deficit.

“The deficit was not your fault, but unfortunately it is your problem,” Zeeve told students and faculty. “Think selfishly and say to the government, ‘ait, you are screwing up my economy,’ and don’t lose sight of the big picture.”

Walker notes that Washington is a lag indicator, meaning that it acts after crises, but says we cannot wait for a crisis to present itself at our door.

Alison Fraser, director of the Roe Institute for Economic Policy Studies at the Heritage Foundation, agreed that when the public becomes involved the government listens.

“Politicians really start to worry not when they get calls from Washington, but when they get calls from their districts.”

While the leadership deficit may be the biggest problem facing the United States’ budget, Walker urges the public not to settle for this shortcoming.

“Do not let the failure of others to do their job keep you from doing what you should and can do,” Walker said. “It’s not just voting, it’s calling, writing, doing op-eds that hold the politicians accountable.”