U.S. Defense Spending Relative to the G7
The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
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The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
Broadband is an indispensable tool for aspects of everyday life such as employment, education, and healthcare. As a result, federal policymakers have prioritized funding it.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for June 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-june-2021
Medicare spending is projected to rise rapidly.
https://www.pgpf.org/chart-archive/0276_medicare_spending_long-term
Medicaid provides health insurance to low-income Americans. Children make up nearly half of the program’s enrollment, but most spending is directed towards the elderly and disabled.
https://www.pgpf.org/chart-archive/0093_medicaid_demographics
Compensation and medical care make up about 40 percent of the defense budget.
https://www.pgpf.org/chart-archive/0216_compensation_defense_budget
Medicare's Hospital Insurance trust fund will be depleted in 2026.
General revenue — not the Medicare payroll tax — is now the largest source of Medicare’s financing.
Transfers from programs like Medicaid, CHIP, and SNAP represent an increasing share of income for low to middle income groups.
https://www.pgpf.org/chart-archive/0234_transfer_programs_share_income
By the Numbers: 2021 Trustees Reports.
https://www.pgpf.org/chart-archive/0321_trustees_reports_2021