That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back - Study Guide Chapter 9: The War on Math (and the Future) Summary & Analysis

Thomas Friedman
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Due to excessive spending since the end of the Cold War, the economy has placed the old against the young. What is our priority: Pell Grants for college tuition or Medicare for our seniors? One thing is certain, that there will be spending cuts. We cannot go on with the current rate of spending. If we do not cut spending, increase revenues and invest in the future, America will pay a huge price.

Since the late 1960s, the US began the practice of deficit spending—spending money we didn't have— which, of course, continued to grow the national debt. By 2016, the debt is estimated to be $16 trillion. The retirement of the nearly 80 million baby boomers will cause the costs of Social Security and Medicare to skyrocket. To satisfy the...

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This section contains 767 words
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Buy the That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back Study Guide
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