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Baby boomers will keep debt high for the foreseeable future

As debt jumped over the past decade, economists warned that retiring baby boomers might soon overwhelm retirement programs, swamp the federal budget and keep the debt unusually high as far as the eye can see. That day has come and the answer now apparently is “get used to it.” After years of debt that normally amounted to about a third of the nation’s total economy, it has spiked to more than 70 percent with no relief in sight. Read more…

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