Entitlement Spending Must Be Cut, warns Harvard Professor

With the debt ceiling battle looming large on the horizon, many are discussing the budget situation. Despite the variety of proposals being floated by those on both sides of the isle, Harvard professor Jeff Miron, PhD makes one thing perfectly clear: entitlement spending must be reformed and cut. In this video, he illustrates the problem that entilement spending has created and how programs like Social Security, Medicare, and Medicaid will continue to drive Federal spending out of control. Failure to reform and cut entitlements will make debt ceilings irrelevant as we see debt levels reaching close to 200% of the GDP.