Budget Basics: Federal Trust Funds
Federal trust funds bear little resemblance to their private-sector counterparts.
https://www.pgpf.org/budget-basics/budget-explainer-what-are-federal-trust-funds
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Federal trust funds bear little resemblance to their private-sector counterparts.
https://www.pgpf.org/budget-basics/budget-explainer-what-are-federal-trust-funds
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
Medicare is an essential health insurance program serving millions of Americans, and a major part of the federal budget and our fiscal outlook.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for March 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-march-2023
Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.
Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.
https://www.pgpf.org/blog/2023/04/healthcare-spending-in-the-united-states-remains-high
The United States has one of the most expensive health systems in the world.
“These new Trustee reports make clear that when it comes to the future of Social Security and Medicare, doing nothing is simply not an option," said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/03/peterson-foundation-statement-on-trustees-reports
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
https://www.pgpf.org/blog/2023/03/social-security-and-medicare-are-facing-serious-shortfalls