John Fund Interviews David Walker: The Deficits Are Coming! - WSJ.com

John Fund Interviews David Walker: The Deficits Are Coming! - WSJ.com: "'Our $56 trillion in unfunded obligations amount to $483,000 per household. That's 10 times the median household income—so it's as if everyone had a second or third mortgage on a house equal to 10 times their income but no house they can lay claim to.' As for this year's likely deficit of $1.8 trillion, Mr. Walker suggests its size be conveyed thusly: 'A deficit that large is $3.4 million a minute, $200 million an hour, $5 billion a day,' he says. That does indeed put things into perspective."