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CBO warns Americans aged 80 will nearly double, costing taxpayers

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Paul Bedard,Washington Secrets,Taxes,Barack Obama,Republican Party,United States,Health Care,Entitlements,Budgets and Deficits,CBO
The American population is getting older faster--those 80 and over will nearly double by 2038--while the percentage of those under 65 will drop, resulting in a substantial whack to the federal budget as Social Security and health care expenses surge and taxes shrink, the Congressional Budget Office warned Wednesday. Still, facing that budget crisis, CBO Director Douglas W. Elmendorf said that...