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Transfers from programs like Medicaid, CHIP, and SNAP represent an increasing share of income for low to middle income groups.
https://www.pgpf.org/chart-archive/0234_transfer_programs_share_income
Growth in Social Security, Medicare, and Medicaid have more than offset declines in defense since the late 1960s.
https://www.pgpf.org/chart-archive/0013_spending-composition-simple
The share of total pre-tax income has sharply increased for the wealthy, but decreased for low-income households.
CBO projects that the deficit for 2019 will be $960 billion. That’s $63 billion (or 7 percent) above its estimate from just three months ago.
“We all know we are already on a troubling fiscal path, but today’s CBO report shows us that our leaders are making things considerably worse," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
https://www.pgpf.org/blog/2019/08/what-is-fiscal-policy-interactive-teaching-tools
Rising interest costs are the primary factor in projected growth in annual deficits.
https://www.pgpf.org/chart-archive/0280_net_interest_primary_deficit
Spending for the major healthcare programs will continue to climb rapidly over the long term.
https://www.pgpf.org/chart-archive/0281_major_health_spending_to_climb_rapidly
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
https://www.pgpf.org/budget-basics/budget-explainer-payroll-taxes
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for June 2019.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-june-2019
