You have to remember PG and VG isn't intended for vaping or consuming for that matter, I doubt the brands sitting in the Walmart pharmacy really had our health in mind when making it..
This is where I disagree. USP is a standard set down to ensure the quality and purity of a product, precisely for health reasons. It states maximum acceptable levels of certain impurities, and if the product goes over those levels on any of the tests, it's not USP grade any more. The sheet that's been linked to gives the results of one such test on a (presumably) random sample of their VG, and quite honestly, the results are very favourable for the product. They look for these things in any product manufactured to USP standards.
For example, it tested out at less than 0.1 ppm for arsenic. As has been stated, that's equivalent to 0.1 mg/L. Some quick research shows that the minimum lethal dose of arsenic is approximately 1mg/kg/day. I would have to consume 10 litres per kilogram of my body mass per day to even get close to dying from arsenic poisoning. In my case, that's 660 litres, so I think that it's reasonably safe for me to consume a few mL per day. Not completely harmless, but when compared with the tens of parts per million of arsenic in cigarette smoke, I know for sure I'm better off vaping.
I agree that we don't know what steps this stuff goes through when being processed into e-liquid. I'm sure nothing particularly bad happens, but I can't be certain. If I were overly concerned, I'd feel a lot safer doing my DIY, because I know that my USP PG and USP glycerin goes directly from the source bottle into my e-liquid.
Sure, it's not 100% safe, but then again, neither is anything else in this world. Hell, for the first seven or so years of my life, I was exposed daily to highly elevated levels of atmospheric lead, courtesy of the Ethyl corporation. I'm still around.
Edit: I think debate is a healthy thing. It's a civilized exchange of differing ideas, after which both parties can make up their own minds.
I'd also stop throwing around the word "ignorant" (read: uninformed). It seems as though anyone who has responded has taken the time to inform themselves on the subject, and they've drawn their own conclusions based on the data available.