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Mandatory programs and interest costs will take over more of the federal budget, crowding out discretionary programs.
https://www.pgpf.org/chart-archive/0156_mandatory_discretionary_pies
The amount spent by the federal government on interest is large and growing. Recent Congressional Budget Office (CBO) projections show that net interest will become the third largest “program” in the budget by 2025.
Growth in Social Security, Medicare, and Medicaid have accounted for most of the increases in government spending since the 1960s.
https://www.pgpf.org/chart-archive/0012_spending-composition
Mandatory spending and interest costs will climb significantly, while discretionary spending will fall to well below historical averages.
Social Security and major health programs account for three-quarters of programmatic mandatory spending.
Net interest costs on the national debt are projected to rise sharply.
Mandatory spending accounts for about 60 percent of the budget.
Nondefense discretionary spending includes many programs that could promote future economic growth.
https://www.pgpf.org/chart-archive/0021_discretionary-spending
U.S. dependency on foreign lenders to finance the public debt has risen sharply.
https://www.pgpf.org/chart-archive/0057_foreign-holders-debt
Under current law, the U.S. budget deficit will exceed $1 trillion each year beginning in 2022 and total $11.4 trillion over the upcoming decade according to projections by The Congressional Budget Office (CBO).
