Entitlement apocalypse

National Review
by Andrew G. Biggs

03/30/10

Our long-term budget challenge can be summarized in one word: entitlements. Without Social Security, Medicare, and Medicaid, the budget would be roughly in balance over the coming decades. But with these programs, and without reform, a fiscal crisis is inevitable. To balance the budget over the next 25 years would require an immediate and permanent 30 percent increase in all federal taxes. That is the future we face, and it is a future of our own making...

//tinyurl.com/yh25yuf


Informant: Thomas L. Knapp



//freepage.twoday.net/search?q=fiscal+crisis
//freepage.twoday.net/search?q=budget
//freepage.twoday.net/search?q=taxpayer
//freepage.twoday.net/search?q=Andrew+G.+Biggs

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