We're Broke, And It May Get Worse
In case you missed it, this is an election year. Winston advises both presidential candidates, and everyone running for the House or Senate, to read a recent GAO Report entitled Federal Debt: Answers to Frequently Asked Questions. This report is an excellent primer on federal government debt and the problems it can (and will) create. Anyone who wants to know how bad this federal debt problem is, and how much worse it could become, should read the following paragraph from the GAO Report (emphasis added):

"The Congressional Budget Office's (CBO) current baseline projections (assuming current laws and policies remain the same) show deficits and rising debt for most of the next decade. As GAO and others have noted over the longer term, the retirement of the baby boom generation and rising health care costs will place additional pressures on the federal budget. Long-term simulations by GAO, CBO, and the Office of Management and Budget show absent policy changes, debt held by the public would rise to levels ultimately unsustainable by the U.S. economy."