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The Looming Fiscal Crisis: Tackling the Entitlement Deficit
The United States is facing a looming fiscal crisis, and the solution may lie in the hands of a few individuals, including Elon Musk. As the 2024 election approaches, the incoming administration will be tasked with addressing the growing disparity between government revenues and expenditures, particularly in the areas of healthcare and retirement benefits.
The Ballooning Federal Debt
Over the past decade, the federal debt has grown significantly, from around $17 trillion in 2014 to a staggering $30 trillion in 2022. This rapid increase was largely driven by the COVID-19 pandemic, which led to a surge in government spending to combat the economic fallout.
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