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Why Are Food Prices Rising So Fast? — 1 Comment

  1. The former head of the Government Accountability Office and Comptroller General of the United States, David Walker has issued a stark warning following the compromise deal to raise the debt ceiling.

    “We are less than three years away from where Greece had its debt crisis as to where they were from debt to GDP,” Walker said.

    “Here’s the bottom line. If you take the total liabilities of the United States – public debt, unfunded pensions, retiree health care, under funding with regard to social security, with regard to medicare, a range of commitments and contingencies – as of September 30 2010 we would have had to have had $61.6 trillion dollars in the bank in order to be able to defease those obligations.” Walker explained.