Kurt Schrader: In just a few decades, Social Security, Medicare and Medicaid, other mandatory spending programs, and paying interest due on the debt will eclipse our entire budget.
The Truth-o-Meter says: True | Will entitlement programs and debt swamp federal revenues in the near future?
Members of Congress and politicians like to use dramatic language to describe the nation’s fiscal problems. Federal spending, they say, is like "a runaway train." The GOP’s front-runner for president, Mitt Romney, famously said, "We’re inches away from no longer having a free economy." The rhetoric on the nation’s deficit is similar. "A government that loses its sovereignty to its bondholders cannot long guarantee its people’s prosperity – or secure their freedom," the budget written last year by House Republicans said. Oregon Rep. Kurt Schrader, a Democrat, is a bit more restrained, ... >> More
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Posted on Feb. 03, 2012
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