Though President Bush has announced some rosy budget numbers this month, Walker is still crying "fire" over America's giant federal deficit.
Hear a conversation with U.S. Comptroller General David Walker about what he calls a chilling picture of America's financial future.
David Walker, Comptroller General at the Government Accountability Office, a 3,200-employee government body that monitors all federal programs. He was appointed by President Clinton for a 15-year term in 1998;
Phillip Swagel, former chief of staff at the Council of Economic Advisers under George W. Bush from 2002 until February, 2005. He is currently a resident scholar at the American Enterprise Institute.
This program aired on July 26, 2005.