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America’s economic rebound from the coronavirus pandemic seems to have begun, depending on location, according to Phillip Swagel, the director of the nonpartisan Congressional Budget Office.
The latest Financial Times-Peterson Foundation US Economic Monitor, released on June 4, 2020, reveals how the coronavirus pandemic continues to have significant financial and economic impacts across wide swaths of American society.
The latest Financial Times-Peterson Foundation US Economic Monitor reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures.
Health expenditures of state and local governments are projected to crowd out non-health spending.
Medicare spending is projected to rise rapidly.
https://www.pgpf.org/chart-archive/0276_medicare_spending_long-term
Medicare's Hospital Insurance trust fund will be depleted in 2026.
General revenue — not the Medicare payroll tax — is now the largest source of Medicare’s financing.
By the Numbers: 2020 Trustees Reports
https://www.pgpf.org/chart-archive/0321_trustees_reports_2020
Social Security and Medicare are facing serious financial difficulty in the near future.
