Out of Control Government Spending is Far Worse Than You Think

Former U.S. Comptroller General David Walker says that in the last four years the federal government spending has increased 40 percent. "A lot of people now are talking about the $34.2 trillion in debt, but, frankly, that is just the tip of the iceberg because, as you know, in icebergs, most of the ice is below the water," Walker said. "In this case, [there's] most of the ice, in addition to that $34.2 trillion. In reality, when you count unfunded civilian and military pensions, retiree health care, Social Security, and Medicare, it's over $120 trillion and growing faster than the economy."

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