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The Big Long-Term Budget Squeeze. And What To Do About It
Two trends threaten to dominate government spending for decades to come — and slowly eviscerate the public sector as a dynamic agent for solving problems. First, and most obviously, we’ll be spending a boatload more money on old people as the Baby Boomers retire. Under President Obama’s proposed budget, we’ll spend an extra $1 trillion on Medicare and Social Security in 2024 compared to 2014. There’s nothing wrong, per se, with spending more money on old people…Read More
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