About 32 cents of every US federal dollar, excluding interest payments, was spent on investments, only 14 percent on entitlements.
In the mid-70s the lines crossed.
Today we spend less than 15 cents on investment and 46 cents on entitlements. And it is getting worse.
By 2030, when the last of US boomers have surged onto the Social Security rolls, entitlements will consume 61 cents of every federal dollar.
Effectively, this means letting our – already neglected – investment starve, leaving us with “a less-skilled work force, lower rates of job creation, and an infrastructure unfit for a 21st-century economy.”
Wouldn’t it be our obligation to leave this issue resolved?