Entitlements, Social Security, Medicare, Medicaid
Mandatory spending on entitlements, specifically Social Security, Medicare, and Medicaid will explode as baby boomers retire and healthcare costs rise. In less than two generations, the amount the government currently spends on entitlements will double, claiming all federal tax revenues by 2052. These spending tsunami will in leave no room in the federal budget for other priorities like defense or low taxes. Left on autopilot, these entitlement-driven deficits will reach 24.5 percent of GDP over the long term.
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yes and the money would have been there if the good old boys in Washington had kept their hands off of it.