Monday, March 31, 2008

The only way to fund entitlement programs successfully

is to grow the economy faster than the entitlement spending rises.

David Wessel reports that a ideologically diverse group finds some common ground on runaway Medicare and Medicaid spending:
Social Security, Medicare and Medicaid are projected by the Congressional Budget Office to spend $1.27 trillion this year, or 43% of the projected $2.9 trillion in total federal outlays and the health programs, in particular, are growing faster than other spending. “Our political leaders have been avoiding this enormous issue — largely because it requires that the public be told that not all past promises can be met,” the think tank coalition said.
UPDATE: More here.

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