Director Portman will be inheriting the most dire long-term fiscal outlook we've ever had. The first baby boomers retire in 18 months, and the Social Security, Medicare and Medicaid costs are set to explode. On top of that, he'll be dealing with a Congress that's absolutely addicted to runaway spending and pork.
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In the absence of even mentioning tax reform in his State of the Union address, it may be presumptuous to assume a revenue-neutral AMT fix after 2007.Brian Riedl
As bad as the last five years have been, it's going to get even worse the next five years.
Brian Riedl
What that means is those costs are being passed down to our children - with interest.
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Mike Pence has done a fabulous job leading the Republican Study Committee. They have put out a realistic and credible and specific budget proposal to get spending under control when virtually no one else is talking about it.
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There is no shortage of candidates for elimination. There is only the shortage of political will to make the difficult decisions.
Brian Riedl
The fiscal situation will probably have to worsen and cause some economic pain before it becomes a priority.
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