Growth over the next few years is expected to slow as the recent fiscal stimulus wanes.
The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.
Debt held by the public would reach record levels relative to the size of the economy within the next two decades, and possibly as soon as 2032 — just 13 years from now.
Tax breaks totaled nearly $1.5 trillion in 2018. To put that in perspective, that’s more than the government spends on Social Security, Medicare, or defense.