The Financial Condition of Medicare
Medicare’s financial problems affect the entire budget, and are largely responsible for projected increases in federal deficits.
https://www.pgpf.org/analysis/the-financial-condition-of-medicare
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Medicare’s financial problems affect the entire budget, and are largely responsible for projected increases in federal deficits.
https://www.pgpf.org/analysis/the-financial-condition-of-medicare
President Obama's budget keeps the debt from rising as a share of the economy, but it does not address the key drivers of our long-term unsustainable debt.
Today, the Congressional Budget Office released its Update to the Budget and Economic Outlook: 2015-2025, which projects that federal debt will rise to 77 percent of GDP in 2025, a historically high level of debt that threatens economic growth over the long term.
Chairman Paul Ryan's budget aims to shrink the size of government to about 20 percent of gross domestic product (GDP) in 2015 and to 15 percent of GDP in 2050.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for February 2022.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-february-2022
“Our mounting debt threatens economic growth, reduces our flexibility to deal with future crises, and diminishes America’s role in the world.," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
National debt could climb from 74% of GDP in 2014 to 166% of GDP in 2039.
https://www.pgpf.org/analysis/gao-sends-clear-warning-long-term-debt-is-on-an-unsustainable-path
The Trustees urge lawmakers to enact legislation soon to put Medicare on a sustainable path.
Since March 15, more than 65 million claims for regular unemployment insurance have been filed due to COVID-19. Find weekly updated statistics here.