FreedomTalks

Newsweek’s Robert Samuelson points out that entitlement spending will reach 75% of the federal budget by 2030.

Consider the outlook. From 2005 to 2030, the 65-and-over population will nearly double to 71 million; its share of the population will rise to 20 percent from 12 percent. Social Security, Medicare and Medicaid—programs that serve older people—already exceed 40 percent of the $2.7 trillion federal budget. By 2030, their share could hit 75 percent of the present budget, projects the Congressional Budget Office. The result: a political impasse.

This entry was posted on Monday, July 30th, 2007 at 11:38 am and is filed under 2008, Elections, Social Security. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.