Commentary: Debt projections foreshadow trouble for U.S.

Budget crises in Greece, Argentina and Ireland could foreshadow the fiscal trouble that the U.S. is headed for if it doesn't enact major changes to entitlement spending, writes Barron's columnist Gene Epstein. Citing Congressional Budget Office estimates, calculations by Barron's indicate that rising health care costs, an aging population and Social Security costs could increase the national debt to 153% of gross domestic product by 2035. These dire estimates require far more political will to meaningfully cut spending and raise taxes for the entire population over the long haul, Epstein writes.

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