President Bush's pledge to halve the budget deficit by 2009 distracts policymakers from the real issue of unsustainable trends in long-term entitlement spending. The president's proposal to slow Medicare's 9 annual growth rate is a good fiscal step, but the budget does not propose enough immediate and bold reforms to the quickly growing entitlement programs that threaten to overwhelm the budget.
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Sacrifice ... At this time, there is none.
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