David Walker: “I hope that what Rahm Emanuel means is that we can't just focus on today; we have to take steps to create a better…”

This is not a collective bargaining problem. I mean, people ought to have the right to bargain, and we're not proposing to touch that at all.

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.

I think the American -- we need to have a discussion with the American people about how much universal health care is appropriate, affordable and sustainable.

I can come up with $2 trillion to $3 trillion worth of deficit reduction without any tax increases, OK?