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Financial expert David M. Walker examines the United States' national fiscal outlook and discusses his new book, Comeback America: Turning the Country Around and Restoring Fiscal Responsibility.

As comptroller general of the United States and head of the Government Accountability Office (GAO)--"the nation's top auditor"--David Walker warned Congress and the administration as the federal surplus became a giant deficit under George W. Bush. As president and CEO of the Peter G. Peterson Foundation, he now works full-time to raise public awareness regarding mounting debt burdens being imposed on future generations.

Walker believes that by 2030, absent significant reforms to current government programs and policies, federal taxes could double from current levels, meaning less money and poorer education for kids--which will hurt families along with our nation's economic strength and position in the world. If our foreign creditors--such as China--decide to buy fewer of our Treasury bonds, interest rates will rise and cars and homes will become less affordable.

His new book, Comeback America, shows how we can return to our founding principles of fiscal responsibility and stewardship for future generations. The book includes ideas to control spending, save Social Security, dramatically alter Medicare, and simplify the tax code--all taking into account the Obama Administration's current efforts, which receive never-before-published assessments, both complimentary and critical.