New study warns of U.S. long-term debt problems
By ANDREW TAYLOR Associated Press on Sep 17, 2013, at 9:20 AM
US & World
Washington Navy Yard gunman Aaron Alexis complained to police in Rhode Island last month that people were talking to him through the walls and ceilings of his hotel rooms and sending microwave vibrations into his body.
The gunman in the mass shootings at the Washington Navy Yard, Aaron Alexis, had a history of violent outbursts, and was at least twice accused of firing guns in anger.
WASHINGTON — A new government study said federal health care and retirement programs are threatening to overwhelm the federal budget and harm the economy in coming decades unless Washington finds the political will to restrain their growth.
The Congressional Budget Office report said government spending on health care and Social Security would double, relative to the size of the economy, in 25 years and that spending on other programs like defense, transportation and education would decline to its smallest level by the same measure since the Great Depression.
The report is one of a series by the agency and other budget watchdogs warning that spiraling long-term debt threatens to crowd out private investment, raise interest rates and limit Washington's ability to respond to a financial crisis.
US & World
Washington Navy Yard gunman Aaron Alexis complained to police in Rhode Island last month that people were talking to him through the walls and ceilings of his hotel rooms and sending microwave vibrations into his body.
The gunman in the mass shootings at the Washington Navy Yard, Aaron Alexis, had a history of violent outbursts, and was at least twice accused of firing guns in anger.
