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Medicare faces significant financial challenges in future years because of rising healthcare spending and an aging population.
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
Every year the Social Security and Medicare Boards of Trustees issue reports on the fiscal health of these vital programs.
“Today’s CBO report demonstrates America’s dangerous and irresponsible fiscal path. Deficits will soon reach $1 trillion annually and grow from there, with no end in sight or plan for the future," Michael A. Peterson, CEO of the Peter G. Peterson Foundation
Federal trust funds bear little resemblance to their private-sector counterparts.
“Alice was a pioneering leader, a committed public servant and a dedicated advocate for fiscal responsibility and sensible solutions,” Michael A. Peterson, CEO of the Peter G. Peterson Foundation
“Our nation faces a range of critical challenges, but Americans understand that managing the debt is a key part of building America’s future,” said Michael A. Peterson, CEO of the Peterson Foundation.
10th annual Fiscal Summit includes Speaker Nancy Pelosi, White House Acting Chief of Staff Mick Mulvaney, House Budget Chairman John Yarmuth, Ways and Means Ranking Member Kevin Brady, New CBO Director Phillip Swagel and other leading policy voices from across the political spectrum
Oakland University’s innovative ‘Fiscally Fit’ campaign to engage students on the nation’s $22 trillion-and-growing debt stood out among more than 100 campus teams nationwide