In 35 years, automatic payments for entitlement programs will leave nothing left for the government to pay for basic responsibilities like defense and homeland security. That’s the stark word from the U.S. Treasury about the looming cost of entitlement programs. The department has issued an 8-page, illustrated, “Citizen’s Guide” that tells the scary story in clear language intended for a broad audience.
Titled “The Government’s Financial Health: A Citizen’s Guide to the 2007 Financial Report of the United States Government” the downloadable report is offered as a user-friendly reference tool for understanding how tax revenue is allocated. Drafted in coordination with the U.S. Government Accountability Office (GAO), the Citizen’s Guide provides an overview of the U.S. government’s short-term and long-term financial outlook, highlighting the government’s biggest fiscal challenge, the unsustainable growth in entitlement programs. This is the first of what is expected to be an annual publication and is available electronically.
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