by Michael D. Tanner
“There is simply no way to control our debt without getting serious about reforming entitlements”
And that’s the good news.
In the next few years, our major entitlement programs, in particular Social Security and Medicare, will begin to run cash-flow deficits, adding hundreds of billions each year to the debt. In fact, Social Security’s total unfunded liabilities top $15.8 trillion, and depending on what accounting measure is used, Medicare’s future shortfall could exceed $100 trillion.
Before long, we may be thinking about today’s debt as the good old days. Read Full article at Cato.org