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Oct 5, 2011

United States National Debt Will Explode

Fiscal consolidation is not only needed to bring down current debt levels and the high fiscal deficit of 9 percent in the United States. Without radical reforms in Medicare, Medicaid and Social Security which will mainly cause the rise in debt, the Government Debt will actually explode to 350% in 2050.

In fact entitlement spending will consume all tax revenues by 2049.


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