Mary Sanchez's column (10/30, Opinion, "Baby boomers face their biggest challenge") should remind all of us that a financial crisis is on our doorstep.
Rudy Giuliani and Mitt Romney talk about cutting taxes and returning the GOP to the Reagan years, but it should be clear that federal expenditures will soar for decades to come as baby boomers retire, take Social Security payments and use Medicare.
Reagan's policies of low taxes and high federal expenditures doubled the national debt within eight years. The unspoken assumption of those who talk about cutting taxes is that the Chinese and Japanese will continue to fund our free-spending, low-taxation ways.
China alone holds well over a trillion dollars of our national debt. Whether it is wise for the U.S. to expect foreign countries to continue to finance our fiscal profligacy is a question that many choose to ignore.