Editorial: Federal spending is unsustainable

The yearly deficit has topped $1 trillion — once a nearly unimaginable figure — now for several years running.

Without action, U.S. debt eventually will become unappealing to investors.

Interest on the federal debt now accounts for about 10% of the budget.

Social Security, Medicare and Medicaid, federal insurance programs whose spending is on autopilot, will have to be part of cuts.