Our coming fiscal crisis
In an article for the Washington Post on where Republicans went wrong, former House majority leader Dick Armey, R-TX, writes:
The greatest threat to American prosperity today is a catastrophic fiscal meltdown resulting from long-term entitlements.
Yes. For more, see the post immediately below.
ADDED —
I don’t mean to suggest here that the entitlement crisis is just the GOP’s fault. It’s not. The origins of this problem pre-date the Republican majority. But Republicans didn’t exactly help the situation when they added a prescription drug benefit to Medicare. That benefit is now projected to cost $1.2 trillion.
(By the way, does anybody remember when the projected cost was a mere $300 billion?)
Leave a comment