Last month, the Congressional Budget Office reported that debt held by the public will exceed the entire economic output of the country next year. Within ten years, the debt will reach 116% of GDP—”an amount greater than at any point in the nation’s history,” as the CBO put it.
Remarking on these figures, Paragon Health Institute president Brian Blase noted that, aside from interest payments on the debt, “rising deficits and debt are largely the result of the growth in federal health-care programs.”
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Competition Or Insolvency? Medicare’s Time For Choosing.
Sally C. Pipes
America has a spending problem.
Last month, the Congressional Budget Office reported that debt held by the public will exceed the entire economic output of the country next year. Within ten years, the debt will reach 116% of GDP—”an amount greater than at any point in the nation’s history,” as the CBO put it.
Remarking on these figures, Paragon Health Institute president Brian Blase noted that, aside from interest payments on the debt, “rising deficits and debt are largely the result of the growth in federal health-care programs.”
Click to read the full article in Forbes.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.