The Economic Implications of the Long-Term Federal Budget Outlook

Following the financial crisis, the budget deficit reached 10% of gross domestic product (GDP) in 2009 and 9% of GDP in 2010, a level that cannot be sustained in the long run. Concerns about long-term fiscal sustainability depend on the projected future path of the budget, absent future policy changes. While entitlement spending made little contribution to current budget deficits, the retirement of the baby boomers, rising life expectancy, and the rising cost of medical care result in projection


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Boomergeddon How Runaway Deficits and the Age Wave Will Bankrupt the Federal Government and Devastate Retirement for Baby Boomers Unless We Act Now

Driven by uncontrolled deficit spending, a mounting national debt and rising interest rates on that debt, the U.S. government will go into default within the next 20 to 30 years. The resulting crisis will change the political landscape beyond recognition. It will mean the end of American empire, and it will shred the retirement safety net for tens of millions of Boomers and the generations that follow. Boomergeddon details how runaway health care costs and a global shift from capital surplus to


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