DVD : 60 Minutes - Wake Up Call (March 4, 2007)
from: CBS
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Binding: DVD
Format: NTSC
Label: CBS
Manufacturer: CBS
Publisher: CBS
Region Code: 1
Release Date: March 13, 2007
Running Time: 12 minutes
Sales Rank: 40575
Studio: CBS
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Airdate: 3/4/07 - David Walker says: beware, the end is near, but he is neither a nut nor a prophet. Walker is the Comptroller General of the United States, and his job is to audit the country's books. Walker predicts that unless the U.S. changes its fiscal course, it could go bankrupt when its 78 million baby boomers become eligible for Social Security and Medicare. The nation's chief accountant tells Steve Kroft that the U.S. has a fiscal and moral duty to reform its spending.
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Any thinking American should see this report. I am not a fan of 60 minutes since they have ruined many lives without accountability or remorse but this is a mandatory watch if you want to secure your future at all.
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When my father was receiving medical care, the doctor offered to write a prescription for a walker. He doesn't need a walker, I told the doctor, because he has one at home.
"Don't worry," the doctor replied. "The walker is free."
"Hold on there, bub," I said to Dr. E. Z. Munny. "It's not free. The taxpayers are paying for it."
"Yeah, you're right," he replied with a wry grin, "but they can afford it."
Our system is tottering with the current generation of old people leaning heavily on our over-burdened American budget but what will happen when the BIGGEST generation hits retirement (and becomes eligible for Medicare)?
Walker calls the massive numbers of baby boomers coming into retirement an "actuarial nightmare." People keep living longer and health care costs keep rising and according to Walker, President Clinton made problems much, much worse when he expanded medicare to cover prescription drugs. In this interview, Walker says, "We've promised way more than we can afford to do. We can't afford the promises we've already made."
He also states something I've observed for many years: "We're offering unlimited health care to senior citizens and the system is unsustainable. We're going to have reform our health care system in installments and if we don't it could bankrupt America."
It's a sobering video but very well done and one of the most interesting points is, no-one is contradicting ... Read More
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David Walker is a true patriot. As the Comptroller General of the U.S. (the nations chief accountant), he was in a position to know the real story of the U.S. economy and the political promises of the last 50 years. Since Congress chose not to listen to him, he took his story public. If you missed it on TV you need to see it now. Unfortunately, David Walker has resigned but the problem still exists. You'll want to have a conversation with your Senators and Congressmen after viewing this interview.
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Every taxpayer needs to be aware of the message Mr. Walker is presenting so that pressure is brought to bear on those that can effect the needed reforms to minimize the impact on our children and grandchildren.
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This was just what I needed to show to some of my clients. Thanks
!
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