Household Debt Remains High
Despite recent declines, U.S. household debt is still very high relative to disposable income.
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Despite recent declines, U.S. household debt is still very high relative to disposable income.
The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930
This outlook is particularly worrisome because the baby boom generation is beginning to retire and will place growing demands on Social Security, Medicare, and Medicaid in the 2020s.
The legislation includes support for families and lower-income households, funding for climate change, infrastructure and healthcare, and a range of other social investments and tax policy. The new spending is mostly, but not fully, offset by other savings in the bill.
https://www.pgpf.org/infographic/what-is-in-the-build-back-better-act
Between 2006 and 2051, spending on federal health programs is projected to more than double.
https://www.pgpf.org/chart-archive/0114_federal_health_spending
On average, Social Security benefits exceed Social Security taxes over an individual’s lifetime.
https://www.pgpf.org/Chart-Archive/0198_social_security_lifetime_benefits
Social Security provides social insurance by redistributing income from high earners to low earners.
https://www.pgpf.org/chart-archive/0244_social-security-income-redistribution