David Walker, former Comptroller General in Washington D.C. will talk about the state of the Nation’s and Connecticut’s finances. According to Walker, the Government is too big as it is 24% of the economy, moving toward 37%.
Only 37% of spending is controlled by Congress, and 63% is fixed. There has been no budget for three years, so that there cannot be an allocation of resources. We must somehow control the spending, and 97% of those polled agree. The demographics show that the number of Social Security recipients is moving toward the same number of payees.
Program: 1) grow the economy, 2) reduce the amount of debt as a % of the economy, 3) The social effort made manageable, 4) Plan has to be politically feasible; opposition party must help.
The biggest holder of our debt is not China, but the Federal Reserve. We need extraordinary leadership from the President. He must go to the American public to pass legislation with bipartisan support.
We need redistricting to change the makeup of Congress reflect reality. Term limits would help, and House terms should be four years with half the House elected every two years.
Greg Van Antwerp will talk about his passionate second “career”. For the past 35 years Greg has been digging for historical treasure through every estate, garage and tag sale he could find. He will be sharing some of his discoveries and search techniques with us.
James A. “Jim” Himes the U.S. Representative for Connecticut’s 4th congressional district, serving since 2009, will be our guest speaker. Jim is a member of the House Committee on Financial Services, the Subcommittee on Insurance, Housing and Community Opportunity, and the Subcommittee on Capital Markets and Government Sponsored Enterprises.