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Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
Medicaid’s role in state budgets is unique, since the program acts as both an expenditure and the largest source of federal support in state budgets.
This budget explainer describes what Medicaid is, how it is financed, and who benefits from it.
Medicare is a large share of the budget, and it is projected to grow.
The combined Old Age and Survivors’ Insurance and Disability Insurance Trust Funds, commonly referred to as the “Social Security Trust Funds,” will be fully depleted by 2033.