Summary
The next president and Congress will inherit an ailing budget with a dire long-term prognosis. Alarmist calls on federal spending ("Federal budget deficit to balloon," Web, Monday; "Into the wild blue yonder," Plugged in, Monday) - in the face of threats that extend to every personal checkbook or corporate bottom line - put a distracted focus on symptoms when we need to treat a larger condition.
The single biggest threat to our financial well-being is the skyrocketing growth of health care costs. The same costs that drive Medicare and Medicaid spending also strain the budgets of employers and individual households. The growth in entitlements is driven by the crisis in health care. Let's keep our eyes on the real problem.See the full content of this document
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