Beyond Obamacare - baby-boom budget bomb ticking

As President Barack Obama and Congress bicker over the federal budget, a report published by one of the nation's most credible agencies warns the U.S. could face economic disaster within 25 years due to excessive government spending.

Obamacare is part of the problem, but so are Medicaid, Medicare and Social Security. The cost of these programs will mushroom as tens of millions of baby boomers reach retirement age, says a Barron’s magazine cover story that reviews a recent Congressional Budget Office report.

According to the article, the CBO’s most optimistic forecast shows the federal debt growing to 100 percent of annual economic output by 2038 – a level of fiscal strength on par with shaky France.
 
Read more at Barron's.