The Mother of All Fiscal Cliffs

"Politicians have been largely keeping the bipartisan promise to pretend there’s no need for entitlement reform, but the facts haven’t changed. Medicare and Social Security this year will spend $649 billion more than they take in. Cumulatively, over the next 30 years, they’ll spend $69 trillion more than they take in, according to the CBO. That will require more borrowing, which will create $47 trillion in interest costs, bringing the grand total of the cost of Social Security and Medicare to $116 trillion in new debt over the next 30 years."

- rest of article at The Mother of All Fiscal Cliffs | National Review