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. . . By Holtz-Eakin's estimate, growth in entitlement programs--primarily
Medicare and Medicaid--will drive federal spending from today's 20
percent of GDP to almost 26 percent in 2030. Such a large public
sector, Holtz-Eakin argues in the paper, would impair economic growth
and flexibility, and endanger America's limited-government heritage.
The challenge, then, is to stabilize the country's finances at around
20 percent of GDP in 2030. . .
. . . His reform proposals are all debatable, but what is
significant about… more
