These 2 Charts Show Why Aging is Greatest Threat to US Budget and Deficits
- Patrick Cox
- Guest Content
- June 20, 2017
BY PATRICK COX
In its 2017 “Long-Term Budget Outlook,” The Congressional Budget Office (CBO) paints a dire picture of US deficits and debt. It shows that the largest single contributing factor to our rising debt and deficits is aging.
In this and previous budget outlooks, the CBO has made it clear that the only part of the budget that is growing in proportion to the total is spending on the aged, particularly for their medical costs.
Can’t Borrow Our Way to Good Healthcare
The CBO includes a warning in the opening section of the report. It says that, “The amount of debt that is projected … [will] increase the likelihood of a fiscal crisis, an occurrence in which investors become unwilling to finance a government’s borrowing unless they are compensated with very high interest rates.”
In other words, things get so bad that it is no longer possible for the US government to borrow enough to maintain current spending. As Alan Greenspan has said, this problem cannot be solved via traditional economic policies, because it’s about aging.
For this reason, anti-aging therapies already in labs but stifled by government regulation will be allowed onto the market to reduce the healthcare costs associated with aging.
Stay in the Loop on Life-Extending Research with Patrick Cox's Tech Digest
This weekly newsletter by biotech expert Patrick Cox highlights research that is much more advanced than most people know, and the profit potential for investors is vast. Read about the latest breakthroughs—from new, non-invasive cancer treatments to age-reversing nutraceuticals and vaccines that kill any virus–as well as the innovative companies that work on them. Get Tech Digest free in your inbox every Monday.