Ex-Comptroller General Walker: Real National Debt Triple What Most Think

America's true national debt is three times what most Americans believe it to be, says David Walker, former U.S. comptroller general and former head of the Government Accountability Office.

"If you end up adding to that $18.5 trillion the unfunded civilian and military pensions and retiree healthcare, the additional underfunding for Social Security, the additional underfunding for Medicare, various commitments and contingencies that the federal government has, the real number is about $65 trillion rather than $18 trillion, and it’s growing automatically absent reforms," Walker said Sunday on "The Cats Roundtable" on AM 970 in New York.

Walker is a co-founder of the bipartisan group No Labels and served under presidents Bill Clinton and George W. Bush.

Americans have "lost touch with reality" when it comes to spending, Walker told host John Catsimatidis.

Related Stories:

• Jim Paulsen: Chances of 'Unexpected Recession' Rising
• Congress Sends Budget and Debt Deal to Obama