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.
Attribution Policy: If you would like to use any of these charts, please credit the "Peter G. Peterson Foundation" and provide the pgpf.org website URL and hyperlink. If you would like to include one of our charts in a commercial product, please email copyright@pgpf.org.
Further Reading
The Cost of Doing Nothing About Social Security
Any change to Social Security will impact how Americans approach retirement decisions, but the costliest choice would be doing nothing.
How Much Government Spending Goes to Children?
Interest costs on the national debt are expected to rapidly outstrip spending on children in coming years.
Swing State Voters Want Harris and Trump to Give Detailed Plans for Shoring Up Social Security
The majority of voters in key battleground states say it’s important for presidential candidates to have a plan to prevent automatic cuts to Social Security.