The unveiling of President Obama?s federal budget for 2013 involves two big stories. The first concerns deficits and debt, which have gotten plenty of attention. Although Obama characterizes his budget as restrained and responsible, the federal debt will grow 68 percent over the next decade to $19.5 trillion in 2022. But the second story has gotten only modest attention. It is how spending on the elderly is slowly and inexorably crowding out the rest of government ? and creating enormous pressures for future, steep tax increases.
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Source: http://feeds.washingtonpost.com/click.phdo?i=8cc53a08ead952866f11f7c09c981fd6
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