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David Walker Warns of Social Security, State Pensions Insolvency
David Walker, the former Comptroller of the United States from 1998 to 2008, is warning the general public that Social Security is untrustworthy and is on the cusp of insolvency. Get ready. It has been a while since Walker has been front and center in the mainstream media. Walker was one of the very first government officials to publicly warn Americans about the nation’s dire financial pressures. He has touched upon the country’s colossal debt problems, immense budget deficits and the $120 trillion unfunded liabilities and expenditures that will soon come due….Despite the troubles of Social Security, “Medicare is in much worse shape than Social Security” because the government, including President Obama’s Affordable Care Act (ACA), “overpromised” on its healthcare obligations. Walker posits that healthcare inflation remains one of the greatest threats to the federal government amid changing demographic trends. Read More…