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Spending on federal entitlement programs will more than double between 1985 and 2050.
By 2050, interest costs are projected to be more than three times what the federal government has historically spent on R&D, infrastructure, and education combined.
Transfers from programs like Medicaid, CHIP, and SNAP represent an increasing share of income for low to middle income groups.
Waiting to act raises the cost of stabilizing the debt.
Prior to 2020, the median real income for families in the United States had been increasing for 5 consecutive years.
Blacks and Hispanics have much higher poverty rates than other groups.
In 2019, median household income varied considerably by race and ethnicity.
Full-time male workers earn more than full-time female workers
Income varies widely across racial and ethnic groups in the United States.