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Monday, June 26, 2006

Report: by 2050 Federal spending expected to double when boomers retire

"The federal government spent $2.5 trillion in 2005, or about 20 percent of gross domestic product and 33 percent more than it spent in 2001. However, the bigger concern is that Social Security, Medicare, and Medicaid spending will explode when the baby boomers retire, doubling the total federal budget to nearly 50 percent of GDP by 2050."

"Refining the Budget Process"
Daily Policy Digest
National Center for Policy Analysis

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