Living beyond our means, yep
"We're borrowing 40 cents of every dollar we spend."
— PolitiFact National
That includes a few other entitlements, too
"The American people say, don't touch Social Security, don't touch Medicare, don't cut defense. That's 84 percent of the federal budget."
Correct on both counts
Federal spending is "the highest it's been as a share of our economy in 60 years (and) revenue is the lowest it's been as a share of our economy in 60 years."
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