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Look at page 15 on Walker's GAO report on the economy..your answer is there
http://www.gao.gov/cghome/d08395cg.pdf
Commented Sep 4, 2008 on Movie review of I.O.U.S.A.: TIT for tat. at The Skeptical Optimist
Movie review of I.O.U.S.A.: TIT for tat.
[The relevance of the mountains will become clear near the end of this article.] Two nights ago, I sat through the new doomsday movie, I.O.U.S.A., starring David Walker, former Comptroller General of the USA, and Robert Bixby of the Concord Coalition, both deeply committed to their Fiscal Wake...
You obviously aren't too familar with Walker's work....
You Said: The “secret” solution, not addressed in the movie, is growth—economic growth
Walker has stated many times, both in GAO reports and in interviews, that it would take double digit growth every year for the next 75 years to eliminate this problem.
He also states that that this country has not experienced that kind of growth since the years following WWII.
It currently is in the low single digits and even at its best, could never get high enough to make a dent in this problem.
I am not an economist, but do follow Walker's work. I have written a number of economic diaries on KOS echoing Walker's fears. Follow the link in the diary and watch his 60 minute interview..very interesting.
http://www.dailykos.com/story/2008/6/25/14502/5764/214/541849
Have you read the 2008 GAO report on the economy.
http://www.gao.gov/cghome/d08395cg.pdf
Thank you
Commented Sep 4, 2008 on Movie review of I.O.U.S.A.: TIT for tat. at The Skeptical Optimist
Movie review of I.O.U.S.A.: TIT for tat.
[The relevance of the mountains will become clear near the end of this article.] Two nights ago, I sat through the new doomsday movie, I.O.U.S.A., starring David Walker, former Comptroller General of the USA, and Robert Bixby of the Concord Coalition, both deeply committed to their Fiscal Wake...
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