David M. Walker wants Obama and Romney to spell out their tax policies. However, our dysfunctional Congress controls taxes. Our imperial presidents start wars, but they can only hope for tax changes. Obama promised healthcare reform, but Congress produced a patchwork of half-measures without cost controls, leaving us at the mercy of the insurance companies.
Walker prescribes a precise 3-1 ratio of spending cuts and tax increases.
There is no magic technocratic solution. Economics is not experimental science, and it is distorted by ideology. Governments won't survive without
give and take and perceived social justice.
The U.S. is too big for a single economic policy. We must permit regional policy differences; for example, maybe Texas and other red states want to subsidize oil companies and professional sports, while blue states want to subsidize education, healthcare and libraries.