$10 Million a Minute Tour – our first “MAcc Talk”

Fisher MAcc students have the unique opportunity to attend “Applied Talks” and “Academic Talks” throughout the year.  These discussions feature prominent figures in both the business and academic world.

Our first MAcc Applied Talk was last Thursday and featured former U.S. Comptroller General David Walker.  Mr. Walker served as comptroller for ten years until 2008, after which he formed the Comeback America Initiative, an organization to “promote fiscal responsibility and sustainability by engaging the public and assisting key policymakers on a non-partisan basis in order to achieve solutions to America’s fiscal imbalances” (CAI website).

Here are some interesting talking points from David’s discussion:

  • Budget – 100 years ago, government had control of 97% of the federal budget; today, it only has control over 33%.  The government must recapture control over the budget.
  • Taxes – we need to reform individual federal taxes and corporate federal taxes.
  • Healthcare – healthcare should be provided for all citizens – but the government cannot over-promise on the care they are presenting for Americans.
  • Social Security – we must raise the wage cap and raise the retirement age.
One of the most shocking graphs Mr. Walker presented to us, showing projected U.S. debt (courtesy of CAI.gov)

To be honest, it was overwhelming how much information was thrown at us, and I remember commenting on how I could feel weight being added to my shoulders as Mr. Walker reminded the audience that it is the youth of this country that will bear the burden of our country’s debt.  However overwhelming the presentation was, I was happy that Fisher was able to bring in a speaker with so much experience with this heated issue.

As a challenge to all of you, I suggest taking a few minutes to test your Fiscal IQ on the CAI website.  Do you know as much as you think you do about America’s debt?