"There is a toxic nexus between a lack of competitiveness, unsustainability, low potential growth and an ongoing recession, " he said.

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For every Nouriel Dr. Doom Roubinis out there trying to get their point across about the unsustainability of it all, there were 100 not-Roubinis.

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Meeting that rigorous standard has been made more all-the-more challenging by the concomitant exodus of the skilled workforce and the increasing obsolescence and unsustainability of the industrial complex it mans.

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The unsustainability is due to several factors, but the biggest problem is that Medicare is a defined-benefit, social-insurance plan, with a growing number of recipients especially as the baby boomers enter retirement and a declining number of working stiffs to support it.

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