America’s entitlement programmes are rapidly approaching insolvency
The politics of reforming them are already broken

In some circles, the annual report from the Social Security and Medicare Board of Trustees is as hotly anticipated as a thriller. Admittedly, those circles are not very wide. Read the latest report, released on March 31st, and you can see why most people are happy to avoid the gruesome hobby.
This article appeared in the United States section of the print edition under the headline “Third-rail thriller”
United States April 15th 2023
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