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David Walker: There is no party of fiscal responsibility

He blames both parties for the financial peril, noting the spending and fiscal control measures brokered by Clinton and House Speaker Newt Gingrich in the 1990s expired in 2002. Sense then, the financial barn doors have been open.

“I’m here to tell you there is no party of fiscal responsibility,” said Walker, who spoke at the Arizona Chamber of Commerce and Industry’s offices.

He notes that tax cuts, Iraq War spending and the Medicare drug benefit plan were all done during the George W. Bush administration. Walker also points out the costs of President Barack Obama’s health care reform law and continued spending during his first term. He contends “ObamaCare” could cost far more than projected.

He worries about high debt to gross domestic product levels, saying the country’s current path puts it in Greece’s financial neighborhood.

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