Goodbye, Surplus. Hello, Train Wreck

Bush's tax cuts brought the budget deficit back, making it much tougher to pay health and retirement benefits for aging baby boomers

Washington may have just blown its last, best chance to fully finance health-care and retirement benefits for 65 million baby boomers. Addressing those needs will still be possible. But it's going to be a lot more painful, thanks to a combination of bad luck and short-sighted tax and spending decisions over the past couple of years.

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