9 Charts That Show How Our Fiscal Outlook Has Gone from Bad to Worse
Significant damage was done to America’s fiscal outlook over the past year.
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Significant damage was done to America’s fiscal outlook over the past year.
Social Security and Medicare affect nearly every American at some point in their lives.
Several federal programs that are governed by trust funds are facing serious funding shortfalls. As a result, such trust funds, including the retirement portion of Social Security, Medicare’s Hospital Insurance Trust Fund, and the Highway Trust Fund, are projected to be exhausted in the near future.
Voters are deeply concerned about interest costs eating up more and more of the federal budget.
Voters are calling on their leaders to take concrete actions to put us on a better fiscal path.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
As a large portion of the American population lives well beyond retirement age, the total cost of providing healthcare will grow as well.
https://www.pgpf.org/blog/2022/12/how-does-the-aging-of-the-population-affect-our-fiscal-health
The U.S. spends twice as much on prescription drugs as other comparatively wealthy nations, on average.
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Mounting federal debt can cause interest rates to rise significantly, according to a new report released by the American Enterprise Institute (AEI).
https://www.pgpf.org/blog/2022/12/the-rising-national-debt-drives-up-interest-rates