On Borrowed Time
Subtitle: How the Growth in Entitlement Spending Threatens America's Future
Edition: New Ed edition
Publisher: Transaction Publishers
Published: May 1, 2004
Language: eng
Format: Paperback
Number of pages: 462
ISBN-13: 9780765805751
Subjects: Public Finance; Economic policy; Business / Economics / Finance; Business & Economics; United States; Business/Economics; USA; Economics - General; Budget deficits; Economic forecasting; Entitlement spending
Description: "Entitlements represent one of the largest and fastest-growing portions of the federal budget. They are regarded as sacrosanct by lawmakers, yet many people see them as one of the greatest threats to the American Dream. This volume argues that by sacrificing the future in order to pay ever-larger federal benefits through programs such as Social Security, Medicare, and federal pensions, entitlement spending has become a crushing burden to American workers." "Peterson and Howe destroy myths surrounding entitlement spending. They show that the bulk of it does not go to the poor. The majority of the elderly are not needy and dependent. Entitlement programs, not defense spending, consume the largest share of the federal budget. In short, we cannot balance the budget without reducing entitlement spending. In a country that demands critical investments - improving public education, alleviating poverty, increasing professional opportunity - growth in entitlement spending is unaffordable." "On Borrowed Time is a timely book that will be mandatory reading for policymakers, politicians, economists, and a general public concerned with its financial future."--BOOK JACKET.