Bankrupt: Entitlements and the Federal Budget

March 2, 2011
Without a change to current policies, by 2050 federal government spending will exceed 42 percent of GDP. When you include state and local spending, government would be consuming nearly 60% of everything produced in this country. Whether financed through debt or taxes, government that large would represent a crushing burden to our economy and our liberties. Driving this massive increase in the size and cost of government are so-called “entitlement programs,” in particular Social Security, Medicare, and Medicaid. It may well be “politically convenient” to continue ducking entitlement reform. But doing so will condemn our children and our grandchildren to a world of mounting debt and higher taxes.

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