The Growth of Entitlement Programs
Spending on federal entitlement programs will more than double between 1991 and 2051.
https://www.pgpf.org/chart-archive/0027_entitlement-programs-proj
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Spending on federal entitlement programs will more than double between 1991 and 2051.
https://www.pgpf.org/chart-archive/0027_entitlement-programs-proj
By 2051, interest costs are projected to be more than three times what the federal government has historically spent on R&D, infrastructure, and education combined.
https://www.pgpf.org/chart-archive/0005_investments_interest
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.
Non-defense discretionary spending funds a wide range of programs
https://www.pgpf.org/chart-archive/0318_nondefense_disc_categories
Beyond 2030, rising interest costs are the driving factor in projected growth in annual deficits.
https://www.pgpf.org/chart-archive/0280_net_interest_primary_deficit
The federal government collects revenue from a variety of sources.
“As our debt crosses $31 trillion, it’s past time for action," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Unemployment insurance (UI) is a joint state-federal program that was established in 1935 to provide temporary financial assistance to workers who become unemployed by no fault of their own.
https://www.pgpf.org/budget-basics/budget-basics-unemployment-insurance-explained
Prior to the Great Depression deficits were unusual in the U.S. Budget. Surpluses occurred in about two-thirds of the years between 1800 to 1929.
https://www.pgpf.org/chart-archive/0023_federal-deficit-surplus
U.S. dependency on foreign lenders to finance the public debt has risen sharply.
https://www.pgpf.org/chart-archive/0057_foreign-holders-debt