U.S. Squabbles Over Peanuts to Tame Elderly: Laurence Kotlikoff

The time to disagree agreeably is over for health-care policy in America.

U.S. President Barack Obama and Congress last week approved a measly budget cut of $39 billion and no tax increases. That leaves us with a massive deficit equal to 9 percent of gross domestic product and a debt-to-GDP ratio that will exceed 90 percent within six years.