I have been honored to receive appointments from presidents Ronald Reagan, George H.W. Bush (41), and Bill Clinton with unanimous Senate confirmation each time. I have also held government positions during every administration except one since 1980, including the current one.
During this period, I and millions of Americans have witnessed a significant decline in the ability of the president and Congress to effectively address large, known, and growing challenges. Public confidence in our government institutions is rightfully at or near an all-time low and it looks like we are yet to hit rock bottom. In addition, the percentage of Americans who think America's best years are behind us is at or near an all-time high. The sad but simple truth is that we now have a republic that is not representative of nor responsive to the public.
Since 1981, when the Committee for a Responsible Federal Budget (CRFB) was founded, our federal debt subject to the debt ceiling has increased from about one trillion, or about 32.5 percent of GDP, to about $33 trillion, or about 129 percent of GDP, and rising rapidly. Does that sound responsible?!
Neither major political party has had the courage to tell the truth and make the tough choices necessary to restore fiscal sanity and sustainability. As a result, Congress and the president have continued to mortgage the future of our country and future generations of Americans. This is irresponsible, unethical, immoral, and un-American. It's time to quit living for today and start taking steps to create a better tomorrow.
I have written extensively on how best to defuse our ticking debt bomb, including in my latest book America in 2040: Still a Superpower? The American people are way ahead of the politicians and know that tough choices must be made. When will our federal elected officials act?
The Congress and the president need to resolve the pending appropriations bills for Fiscal 2024 and the president's supplemental request for Fiscal 2023. They need to avoid a costly and disruptive shutdown and take steps to address our deteriorating financial condition and structural fiscal imbalance. This includes creating a statutory Fiscal Sustainability (Debt) Commission comprised of a politically diverse group of capable, credible, and non-conflicted individuals. The commission would work to educate and engage the public, solicit views, and then make a package of budget, spending, and tax reforms that would be guaranteed an up or down vote in Congress. It is unrealistic to expect that these reforms will happen in a piecemeal fashion through the so-called "regular order."
While the American people have lost patience with Washington politicians, the states have too. They understand that the only way to restore and sustain federal fiscal responsibility is by adopting a Constitutional amendment that limits how much debt/GDP the federal government can have absent a formal declaration of war or other extraordinary circumstances with a super-majority vote by Congress. All but one state has a fiscal responsibility provision in their state constitution, but the federal government does not.
Since Congress has failed to act to propose such an amendment, stay tuned for pending action by the states. Specifically, several states are considering legal action against Congress since the Congress has failed to discharge its express, and non-discretionary responsibility to call a Convention of States to propose a Fiscal Responsibility Amendment since 1979 despite having more than the required 34 active state applications in that year.
Our fiscal challenge is not the only important issue that Washington politicians have failed to effectively address. Others include, but are not limited to, border security/immigration, energy/environment, public safety/rule of law, and national security issues.
It is also clear that the major parties have failed to listen to the American people regarding who they want to lead this country in 2025. Even though an increasing super-majority of Americans do not want Biden or Trump, both major parties seem to be on a path to nominate both of them. If this happens, it is highly likely that No Labels will offer a third Unity Ticket option for president and vice president to the American people. It would be a credible and capable ticket that would be committed to work on a bipartisan basis and pursue a common sense and results-oriented agenda on issues of concern to the American people. Offering a third option would be fully appropriate since choice and competition are fundamental American principles and essential elements for a healthy democracy.
As has been said, enough is enough. Americans are mad as hell, and they aren't going to take it anymore! It's time for Washington politicians and the major political parties to do their job, listen to the majority of the American people, and solve the serious problems that we face.
Hon. David M. Walker is the former U.S. comptroller general, director of the Federal Fiscal Sustainability Foundation, and National Co-Founder of No Labels.
The views expressed in this article are the writer's own.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
