Growing Healthcare Costs in the U.S.
Total U.S. health spending (public and private) is projected to rise to nearly one-fifth of the economy by 2025.
https://www.pgpf.org/chart-archive/0056_health-care-costs-proj
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Total U.S. health spending (public and private) is projected to rise to nearly one-fifth of the economy by 2025.
https://www.pgpf.org/chart-archive/0056_health-care-costs-proj
Prescription drug costs have increased significantly over the past several decades.
https://www.pgpf.org/chart-archive/0319-prescription-drug-costs
Government health insurance is paying for a larger share of prescription drug expenditures.
https://www.pgpf.org/chart-archive/0320-prescription-drug-costs-composition
Federal budget deficits are projected to be high despite low unemployment.
https://www.pgpf.org/chart-archive/0306-high-deficits-low-unemployment
“As we continue to face significant economic turbulence and uncertainty, fiscal confidence is near a record low, because voters know that our growing national debt makes it more difficult to build a strong and stable future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2022/04/fci-press-release
The answer to how to address the multitude of challenges and their disproportionate impact is to pay for it — set priorities and ensure there is revenue to meet those priorities — not through smoke and mirrors or budget gimmicks.
https://www.pgpf.org/expert-views/americas-fiscal-and-economic-outlook/debt-matters
Over one-third of American children are covered by Medicaid or the Children's Health Insurance Program (CHIP).
https://www.pgpf.org/chart-archive/0097_children_medicaid_chip
As the population ages, fewer workers will be paying taxes to support each Social Security beneficiary.
https://www.pgpf.org/chart-archive/0004_worker-benefit-ratio
A key assessment of poverty in America is the Official Poverty Measure (OPM), which is calculated by the United States Census Bureau using a range of income and economic data.
https://www.pgpf.org/budget-basics/how-do-we-measure-poverty-and-is-there-a-better-way-to-do-it
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for May 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-may-2021