Entitlements in America
Dear Mr President:
Please take a moment to gloat. All through your first term you were accused of presiding over America’s fiscal ruin. In your first year in office the deficit hit a peacetime record of 10.1% of GDP, and went past $1 trillion for four years.
This article appeared in the Briefing section of the print edition under the headline "Entitlements in America"
From the May 25th 2013 edition
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The world’s economic order is breaking down
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On the campaign trail, both main candidates largely ignore the problem