This doesn’t surprise me at all. The American Media and the Academy have been completely negligent over the years in teaching economics and reporting facts when it comes to what makes up the US budget and what items will cause it to explode beyond all reason now that the Boomers are starting to retire.
Check out this chart at Business Insider to get a good picture of what truly drives deficits in the out years. It’s the non-discretionary entitlement spending and the interest to finance the debt that’s going to kill us and not foreign aid or defense spending.
Please don’t get me wrong, I think we need true cuts (and not just reductions in the rate of growth which Dem’s call cuts) across the board in every line item. No department should be exempt. At the same time, we MUST reform the three big entitlements or they will eat us alive.
They are nibbling on our toes now. It won’t be long before they gnaw off one of our feet.