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< BACK The Coming Generational Storm What You Need to Know about America's Economic Future Laurence J. Kotlikoff and Scott Burns Kotlikoff on the Most Important Economic Problem Facing the U.S.The most pressing economic problem facing the United States is the enormous gap it faces with respect to projected spending and receipts. This fiscal gap stands at $51 trillion. It reflects the fact that 77 million baby boomers will shortly begin collecting Social Security, Medicare, and Medicaid benefits, that the current cost of these benefits total $23,000 per elderly, and that this $23,000 figure is rising much more rapidly than are the real wages of the workers paying these benefits. President Bush needs to engage in serious and immediate reforms of Social Security, Medicare, and Medicaid. The Coming Generational Storm presents simple, commonsense proposals for each of these programs. |
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