America’s core fiscal challenge, according to the Congressional Budget Office, is health care. In 2011, the first of 80 million baby boomers will hit Medicare. In the twenty years to follow, the Medicare rolls will nearly double. Future obligations based on current policies leave our country technically bankrupt, and something has to give.
New Ideas About Human Behavior in Economics and Medicine, Peter Orszag, Director of the CBO, October 16, 2008