Greatest threat to America is Not Osama bin Laden

...but our own financial irresponsibility, says U.S. comptroller general David Walker, e.g. Medicare, Rx drug benefits, Social Security. He was featured on CBS 60 minutes.

"The prescription drug bill was probably the most fiscally irresponsible piece of legislation since the 1960s," Walker argues. (So much for the "conservatism" of "Republican" pres. Bush, who signed it into law, and if fact, has not vetoed a single piece of legislation during his time in office -- unprecedented profligacy that will likely put him in the history books as the president who most hastened the demise of the USA to date.)

Asked why, Walker says, "Well, because we promise way more than we can afford to keep. Eight trillion dollars added to what was already a 15 to $20 trillion under-funding. We're not being realistic. We can't afford the promises we've already made, much less to be able, piling on top of 'em."

With one stroke of the pen, Walker says, the federal government increased existing Medicare obligations nearly 40 percent over the next 75 years.

"We’d have to have eight trillion dollars today, invested in treasury rates, to deliver on that promise," Walker explains.

Asked how much we actually have, Walker says, "Zip."

His conclusion, which no one debates: USA is heading towards bankruptcy. Still, official Washington knows this, and does nothing.