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A few years ago, Senator Edward Kennedy was reported as saying to younger members of his family, “I'm glad I'm not going to be around when you guys are my age.” When they asked him why, he replied, “Because when you guys are my age, the whole thing is going to fall apart.” There can be little doubt that Senator Kennedy had the country’s dire fiscal condition in mind when uttering those haunting words. Although a proponent of big spending all his life, Kennedy seems to realize that sooner or later the hour of reckoning must come.

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