309: America's National Debt: What it Means for Your Retirement with Former U.S. Comptroller General, David Walker

Retire With Purpose - The Retirement Podcast

Casey Weade

Investing, Business, Self-improvement, Education

4.7 • 564 Ratings

🗓️ 15 August 2022

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, I'm talking to David Walker. David served as Comptroller General of the United States under both Bill Clinton and George W. Bush. Since leaving government in 2008, he has been focused on spreading awareness and talking about the national debt. He was the subject of the film I.O.U.S.A., named by Roger Ebert as one of the best documentaries of 2008, and is the author of a number of books, including Comeback America: Turning the Country Around and Restoring Fiscal Responsibility.

I saw David speak back in 2010, and I've always been a huge admirer of his work. He's a huge believer in the importance of reeling in our debt. In his new book, America in 2040: Still a Superpower? A Pathway to Success, he compares the United States to the Roman Empire in decline and the steps that we can take to avoid that outcome.

In today's conversation, David and I dive deep into the matter of the national debt. You'll learn not just why David thinks debt matters, but how it impacts us as individuals–and what we can do about it. You'll learn about how our national debt, high taxes, and inflation are all inextricably linked, the policies that need to change, and how to factor the challenges that might come into your retirement plan.

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In this podcast interview, you'll learn:

Why David believes a constitutional amendment is the only thing that might get our national debt under control.
How debt contributes to out of control inflation and recession.
Why taxes are all but guaranteed to go up so long as we fail to address our national debt.
What needs to happen to reel in healthcare and education costs.
How David has planned for retirement–and what retirement means to him.

Show Notes: Howardbailey.com/309

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Transcript

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0:00.0	Welcome to the Retire with Purpose podcast, a show specifically designed to help free retirees and retirees maximize their financial confidence.
0:14.4	Casey Wheat is a certified financial planner and president of Howard Bailey Financial.
0:18.3	His newest book, Job Optional, is a Wall Street Journal
0:21.5	bestseller and is available now on Amazon and at Retirewithpurpose.com. He's your host on
0:27.9	Retire with Purpose. Hey, I'm Casey, and I believe in retirement strategies that are driven by
0:34.0	meaning and purpose. Join me this week and every week as we discuss thoughts and ideas
0:40.3	with some of today's foremost experts in the field of finance and retirement, as well as discussing
0:46.2	trending topics that could impact your bottom line. These discussions can help you make
0:51.7	better financial decisions so you can live the lifestyle you've always imagined and deserved.
0:57.9	Welcome to the show.
1:02.5	Today I'm talking to David Walker.
1:04.9	David served as Comptroller General of the United States under both President Bill Clinton and George W. Bush.
1:10.7	And since leaving government
1:11.7	in 2008, he has been focused on spreading awareness and talking about the national debt.
1:16.8	He was the subject of the film IOUSA, named by Roger Ebert, as one of the best documentaries
1:22.5	of 2008, and is the author of a number of different books, including Come Back America,
1:28.7	Turning the Country Round and Restoring Fiscal Responsibility.
1:32.3	I had the opportunity to see David speak back in 2010, and I've been a huge admirer of his work ever since.
1:38.4	He's a huge believer in the importance of reeling in our debt.
1:42.1	And in his new book, America in 2040, still a superpower. He compares
1:46.7	the U.S. to the Roman Empire in decline, but he also shares with us some ways that we can avoid
1:52.4	that. And in today's conversation, David and I dive deeper into the matter of mostly national
	...

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