Along with the chart below, the Economist has this quick take:
The chart shows the proportion of GDP spent on entitlements and interest, compared with the proportion of GDP that the government is expected to raise in the form of revenues. ... As can be seen, entitlements and interest will absorb all government spending by 2025. ... In short, the fiscal position is deteriorating rapidly. Where then is the appetite for cutting entitlements or increasing taxes sharply?
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