Lawrence Summers - America’s state will expand whoever wins
1. In the USA, 32% of federal government spending is on the care of the elderly.
Of course the US government could be sensible and (1) curb the pay of doctors (2) curb the profits of the drugs companies and (3) reduce the school leaving age.
2. The federal government's debt is rising and interest rates may soon rise.
3. The cost of "everything from cutting-edge scientific research to regulating banks" rises faster than overall inflation.
"Neither Romney nor Obama anticipate any changes to Social Security."