'Entitlement' Death Spiral

We ignore demographics at our own peril. Robert Samuelson offers Greece as a chilling preview of our own economic future if we don't do something to address the growing imbalance between government revenue inflow and 'entitlement' (read: welfare) program outflow.

"What we’re seeing in Greece is the death spiral of the welfare state. This isn’t Greece’s problem alone, and that’s why its crisis has rattled global stock markets and threatens economic recovery. Virtually every advanced nation, including the United States, faces the same prospect. Aging populations have been promised huge health and retirement benefits, which countries haven’t fully covered with taxes. The reckoning has arrived in Greece, but it awaits most wealthy societies."

Full article here. Read, heed, and act.