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Posts Tagged ‘means testing’

Ignoring Our Deficit Is Irresponsible

Posted by Larry Doyle on January 22nd, 2013 11:28 AM |

Do you remember where you were and what you were doing in 2005? Although much has transpired over the last 8 years, in many regards 2005 seems like just last week. As I think most would attest, if we think the last 8 years went by quickly, the next 8 will go by even quicker. Why is that such a concern?

For the very simple reason that if we do not prepare NOW, the future for our nation and ALL citizens of the United States will be decidedly more challenging. Why so? As the Financial Times addresses today,

It is the 2020s when the big spending will start. The baby boomers, into their 70s, will start getting sick; the Social Security retirement age will stabilise at 67 in 2022; and the CBO is unwilling to assume that certain controls on medical costs will stick for more than a decade. The revenue and spending paths will become irreconcilable. Debt will pile up – and quickly. (more…)






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