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Article - General from Facing Up

Heading for Trouble

The U.S. government is living beyond its means -- far beyond its means. As a result, we’ve built up a staggering amount of national debt and unfunded federal liabilities, potentially made much worse by the current financial crisis. Worse yet, we have put ourselves in this fiscal hole at exactly the wrong time, because we are committed to paying enormous amounts in Social Security and Medicare as the huge baby boom generation starts to retire over the next few years.