Say Goodbye to the Lone Voice of Reason


David Walker, the US Government’s top accountant, unexpectedly resigned today.

David Walker, Comptroller GeneralHe’s been a long-time outspoken critic of our government’s fiscal (ir)responsibility. He’s issued repeated warnings about the economic train-wreck thudding down the tracks.

He apparently feels powerless to make a difference inside the gov’t.

Says he, “As Comptroller General of the United States, there are real limitations on what I can do and say in connection with key public policy issues, especially issues that directly relate to GAO’s client — the Congress.” (The GAO is the Gov’t Accountability Office, the watchdog over all gov’t spending.)

He’s joined the Peterson Foundation in a bid to help wake up the American people.

“We are at a make-or-break point in American history,” Mr. Peterson said of his new foundation. “The entitlement monster is unfunded. We are dangerously dependent on foreign capital, our health care costs per capita are twice the level of the developed world. The goal is to integrate public policy and charitable giving and to answer this question: How do you educate a public that has become largely inert?”

Indeed. I think it’s too late now, but it’ll come after the meltdown in 2011.

◊◊◊◊ As of today: Gold @ $912.50, Silver @ $17.38 ◊◊◊◊

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