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In the Long Run ...

12:17 PM, Jun 1, 2013 • By GEOFFREY NORMAN
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The recent news on the economy, in general, and deficits, in particular, has been encouraging.  Seems the clumsy blend of tax increases and reduced spending – aka the sequester – brought in more revenue and reduced spending.  Funny how that works.

Still, the long view is troubling, if not downright terrifying, and the headline on an article in the Hill pretty by Erik Wasson and Sam Baker pretty much says it all:

Medicare on track for insolvency in 2026; Social Security seven years later

"On track."  Almost makes it sound like we are reaching some sort of goal, doesn't it?

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