What that means is those costs are being passed down to our children - with interest.
More Quotes from Brian Riedl:
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.Brian Riedl
There's so much investment capital out there for profitable new technologies. Investors are constantly looking for good ideas to invest in. If these ideas are as good as these companies say, they should have no problem, at minimum, finding a loan.
Brian Riedl
As bad as the last five years have been, it's going to get even worse the next five years.
Brian Riedl
The more controversial bills will most assuredly end up in a lame-duck Congress.
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The biggest economic danger of the next 50 years is the coming crisis in entitlement spending. The problem is the entire health care system is in crisis. The entire U.S. health care system needs to be overhauled. If not, it will literally bankrupt the federal government.
Brian Riedl
The fiscal situation will probably have to worsen and cause some economic pain before it becomes a priority.
Brian Riedl
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