David Walker: “I believe that there is an opportunity that you can get administration support for something along these lines.”

I think we can get there without going to a parliamentary system, but I do think that we need political reforms as well as policy reforms.

What keeps me up at night is the deteriorating financial condition of the country, escalating deficits and debt, and what it could mean to our future as our country and my grandchildren.

Believe it or not, I am 65 years old. Congress has passed timely budget and appropriation bills four times in 65 years. That is an F minus.

I think there's a way to bridge this and for both sides to save face. We ought to be trying to get a credible down payment and a one-year extension to get a grand bargain.