Unchecked growth of the massive entitlement programs threatens to bankrupt the U.S. Government in the next few years. This could cripple our economy. Medicare, Medicaid, and Social Security – the three biggest federal programs – are on “auto-pilot” and growing faster than the economy.  Spending on them consumed almost 10% of the Gross Domestic Product in 2010, and is projected to nearly double to almost 20% of GDP by the year 2050.  And while these programs today consume a whopping 55% of the federal budget, they projected to consume 100% of all tax revenue by the year 2050, leaving absolutely nothing for other spending, such as education, infrastructure, or even national defense. Entitlement spending is sure to skyrocket as the Baby Boom generation begins retiring in earnest after 2009.  Ten thousand new retirees join the rolls of the big federal retirement entitlements every single day. Total current unfunded liabilities, or promised benefits owed for Medicare and Social Security, are $7.5 trillion and $37.9 trillion respectively – meaning that we’d have to put that amount in the bank today in order to be able to pay all our future promises.  The critical failing of all of these programs?  They are totally uncapped, with perverse incentives that cause them to expand exponentially.  In our view, the only true path to reform is to greatly increase recipients’ ownership and control.