In an overlooked hearing last Thursday, the head of a government watchdog agency warned of looming disaster for America's economy if an effort isn't made to control spending, RAW STORY has learned. Adding that decision-makers in Washington suffer from "tunnel vision and "myopia," he said that getting the budget under control could even require steep tax increases if action isn't taken now.
"The picture I will lay out for you today is not a pretty one and it's getting worse with the passage of time," said David M. Walker, Comptroller General of the United States, in a Thursday morning hearing of the Senate's Budget Committee. "Continuing on our current fiscal path would gradually erode, if not suddenly damage, our economy, our standard of living, and ultimately even our domestic tranquility and our national security," he warned.
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