Government programs that provide benefits to individuals are a cornerstone of our economy, society, and federal budget. Social Security and Medicare are America’s largest social programs, providing critical retirement security and health benefits to millions.
Unfortunately, both of those crucial programs are on an unsustainable path due to the nation’s aging population and rising healthcare costs. Unless lawmakers enact reforms, both Social Security’s Old-Age and Survivors Insurance (OASI) Trust Fund and Medicare’s Hospital Insurance (HI) Trust Fund will become depleted within the coming years. Upon depletion, benefits for the respective programs would face significant and sudden automatic cuts
In addition to Medicare and Social Security, there are a range of social programs serving Americans, including Medicaid, the Children’s Health Insurance Program (CHIP), and various income security programs.
Below is a selection of key charts that provide an overview of some of these crucial social programs, their financial outlook, and how they fit within the federal budget.
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Further Reading
What Is SNAP? An Overview of the Largest Federal Anti-Hunger Program
SNAP has a positive effect on poverty and food insecurity, with a relatively small effect on the federal budget.
Should We Eliminate the Social Security Tax Cap?
There have been a number of proposals to increase, eliminate, or otherwise adjust the payroll tax cap as a way to shore up Social Security’s finances.
Spending on Veterans in the Budget
This piece examines spending on veterans within the budget and outlines the factors that have pushed it higher in recent years.