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David Walker on Budget & Economy

 

 


2007: deficit spending saddles millennials with debts

Many people in the room know Walker was comptroller general of the U.S. between 1998 and 2008. They've seen the 2007 segment on CBS's "60 Minutes," where he warned that the nation's deficit-spending would saddle millennials with crippling debts to pay the retirement entitlements of Baby Boomers.

They understand that Walker, a CPA with executive experience in the private sector, had 3,000 employees and a half-billion-dollar budget at the Government Accountability Office, under congressional control. They remember the Wall Street Journal at the time called him a "Chicken Little" who called for higher taxes and a reduction in benefits.

Source: CT Post on 2018 Connecticut gubernatorial race , May 5, 2018

Revise and respect the Constitutional spending cap

Connecticut's budget is not balanced based on honest accounting and a reasonable definition of expenditures. Spending needs to be restructured and brought under control. We need to revise and respect the Constitutional spending cap, balance the state budget, and prohibit the use of debt to fund normal government operations. In addition, given Connecticut's poor financial condition, the Governor should make expanded use of his/her line item veto authority. Importantly, restoring economic vitality in Connecticut is an essential element to achieving fiscal sustainability.

Financial Condition: Connecticut has the highest liabilities and unfunded promises per taxpayer of any state. It's time to recognize reality--Connecticut's state government has grown too big, promised too much, and needs to be restructured. Connecticut must develop a comprehensive strategy to appropriately restructure the related programs and gain better control of its commitments.

Source: 2014 CT Lt. Gubernatorial campaign website, WalkerForCT.com , Jul 2, 2014

Annual limit on most major categories of spending & revenues

Q: How would you cut spending?

A: Place an annual limit on all major categories of spending other than interest (because we can't) and Social Security (because we can reform the program and make it solvent, secure, affordable and sustainable). Limit how much federal revenues as a percentage of the economy the federal government can take absent a formal declaration of war by the Congress.

Source: Email interview on presidential race with OnTheIssues.org , Apr 3, 2012

3 parts spending cuts to 1 part tax increase via reforms

Q: When you think about the US budget deficit, which of the following solutions is closest to your opinion?A: Choice B. I believe that the ratio needs to be about three parts spending cuts to one part taxes, excluding interest, as part of comprehensive tax reform.
Source: AmericansElect phone questionnaire by OnTheIssues.org , Mar 30, 2012

Comprehensive tax reforms, capping tax at 20.5% of GDP

Q: Would you raise taxes?

A: While we need to have more revenue, we can solve the problems at a lower level of revenue as a percentage of the economy from where we are headed under current law. We should cap the total revenues that the federal government can take, and place a limit on all major categories of federal spending other than Social Security and interest (because we can't).

Q: At what percentage of the economy should revenue be capped?

A: It could be 20.5% of GDP.

Source: AmericansElect phone questionnaire by OnTheIssues.org , Mar 30, 2012

Other governors on Budget & Economy: David Walker on other issues:
CT Gubernatorial:
Bob Stefanowski
Dan Malloy
Danny Drew
Joe Visconti
Larry Kudlow
Linda McMahon
Mark Lauretti
Ned Lamont
Peter Lumaj
Prasad Srinivasan
Tom Foley
CT Senatorial:
Ann-Marie Adams
August Wolf
Chris Murphy
Dan Carter
Jack Orchulli
Matthew Corey
Richard Blumenthal
Tom Foley

Gubernatorial Debates 2018:
AK: Walker(i) vs.Dunleavy(D) vs.Chenault(R) vs.Huggins(R) vs.Begich(D) vs.Treadwell(D)
AL: Kay Ivey(R) vs.Countryman(D) vs.Tommy Battle (R) vs.Walt Maddox (R) vs.George(R) vs.Carrington(R)
AR: Hutchinson(R) vs.Henderson(D) vs.West(L)
AZ: Ducey(R) vs.David Garcia (D) vs.Farley(D)
CA: Newsom(D) vs.Chiang(D) vs.Villaraigosa(D) vs.Delaine Eastin (D) vs.David Hadley (R) vs.John Cox (R) vs.Zoltan Istvan (I) vs.Allen(R) vs.La Riva(P)
CO: Johnston(D) vs.Mitchell(R) vs.Cary Kennedy (D) vs.Doug Robinson (R) vs.Barlock(R) vs.Lynne(R) vs.Polis(D) vs.Coffman(R) vs.George Brauchler(R,A.G.) vs.Stapleton(R)
CT: Malloy(D) vs.Lamont(D) vs.Stefanowski(R) vs.Srinivasan(R) vs.David Walker (R) vs.Lumaj(R) vs.Visconti(R) vs.Lauretti(R) vs.Drew(D)
FL: Gillum(D) vs.Graham(D) vs.Putnam(R) vs.Levine(D) vs.DeSantis(R)
GA: Kemp(R) vs.Cagle(R) vs.Hill(R) vs.Abrams(D) vs.Levine(D)
HI: Ige(D) vs.Hanabusa(D) vs.Tupola(R) vs.Carroll(R) vs.McDermott(R)
IA: Kim_Reynolds(R) vs.Leopold(D) vs.Boulton(D) vs.McGuire(D) vs.Glasson(D) vs.Hubbell(D) vs.Porter(L) vs.Battaglia(L)
ID: Little(R) vs.Fulcher(R) vs.Labrador(R) vs.Ahlquist(R) vs.Minton(D) vs.Jordan(D)
IL: Rauner(R) vs.Kennedy(D) vs.Pawar(D) vs.Daniel Biss (D) vs.Pritzker(D) vs.Ives(R)
KS: Brewer(D) vs.Wink Hartman (R) vs.Colyer(R) vs.Kobach(R) vs.Orman(I) vs.Kelly(D)
MA: Baker(R) vs.Gonzalez(D) vs.Setti Warren (D) vs.Bob Massie (R)
MD: Hogan(R) vs.Alec Ross (D) vs.Cummings(D) vs.Madaleno(D) vs.Jealous(D) vs.Quinn(L) vs.Schlakman(G)
ME: Mayhew(R) vs.Mills(D) vs.Boyle(D) vs.Thibodeau(R) vs.Moody(D) vs.Capron(I) vs.Caron(I)
MI: Whitmer(R) vs.El-Sayed(D) vs.Tim Walz (D) vs.Schuette(R) vs.Calley(R) vs.Tatar(L)
MN: vs.Smith(D) vs.Coleman(D) vs.Murphy(D) vs.Otto(D) vs.Tina Liebling (DFL) vs.Tim Walz (DFL) vs.Matt Dean (R) vs.Pawlenty(R) vs.Johnson(R) vs.Swanson(D)
NE: Ricketts(R) vs.Krist(D)
NH: Sununu(R) vs.Jarvis(L) vs.Steve Marchand (D)
NM: Lujan-Grisham(D) vs.Pearce(R) vs.Cervantes(D) vs.Apodaca (D) vs.Jarvis(L)
NV: Fisher (R) vs.Sisolak(D) vs.Laxalt(R) vs.Schwartz(R)
NY: Cuomo(D) vs.Nixon(D) vs.Hawkins(G) vs.Molinaro(R)
OH: DeWine(R) vs.Husted(R,Lt.Gov.) vs.Kucinich(D) vs.Sutton(D,Lt.Gov) vs.Taylor(R) vs.Jim Renacci (R) vs.Connie Pillich (D) vs.Schiavoni(D) vs.Whaley(D) vs.Cordray(D)
OK: Stitt(R) vs.Cornett(R) vs.Edmondson(D) vs.Richardson(R) vs.Johnson(D) vs.Powell(L) vs.Maldonado(L)
OR: Brown(D) vs.Scott Inman(D) vs.Buehler(R)
PA: Wolf(D) vs.Fetterman(D,Lt.Gov.) vs.Wagner(R) vs.Barletta(R) vs.Krawchuk(L)
RI: Raimondo(D) vs.Brown(D) vs.Fung(R) vs.Morgan(R)
SC: McMaster(R) vs.McGill(R) vs.Pope(R) vs.Templeton(R) vs.Smith(D) vs.Warren(D) vs.Bryant(R)
SD: Noem(R) vs.Jackley(R) vs.Sutton(D)
TN: Green(R) vs.Dean(D) vs.Black(R) vs.Lee(R)
TX: Abbott(R) vs.Glass(L) vs.White(D) vs.Valdez(D)
VT: Scott(R) vs.Moody(R) vs.Hallquist(D) vs.Stern(D)
WI: Walker(R) vs.Harlow(D) vs.Vinehout(D) vs.Evers(D) vs.Roys(D) vs.Anderson(L)
WY: Throne(D) vs.Dahlin(R) vs.Gordon(R) vs.Rammell(R)
Gubernatorial Possibilities 2019:
KY: vs.Grimes(D) vs.Chandler(D) vs.Gray(D)
LA: vs.Edwards(D) vs.Kennedy(R)
MS: vs.Baria(D) vs.Sherman(D) vs.Reeves(R) vs.Lott(R)

Retiring 2018:
AL-R: Robert Bentley(R)
(term-limited 2018)
CA-D: Jerry Brown
(term-limited 2018)
CO-D: John Hickenlooper
(term-limited 2018)
FL-R: Rick Scott
(term-limited 2018)
GA-R: Nathan Deal
(term-limited 2018)
ID-R: Butch Otter
(retiring 2018)
ME-R: Paul LePage
(term-limited 2018)
MI-R: Rick Snyder
(term-limited 2018)
MN-D: Mark Dayton
(retiring 2018)
NM-R: Susana Martinez
(term-limited 2018)
OH-R: John Kasich
(term-limited 2018)
OK-R: Mary Fallin
(term-limited 2018)
SD-R: Dennis Daugaard
(term-limited 2018)
TN-R: Bill Haslam
(term-limited 2018)
WY-R: Matt Mead
(term-limited 2018)
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Page last updated: Sep 22, 2018