Brief
December 1, 2003
Primary tasks
Abstract
Programs for working families and children are scheduled to shrink rapidly over the next few years, squeezed between rising expenditures on programs for the elderly and declines in tax revenues. This scenario will play out even if only modest defense and international needs are factored into the division of federal funds. Temporary deficit financing can delay the day of reckoning very little, since borrowing against the future only compounds today's problems.
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