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“Voters have made it overwhelmingly clear that they want their leaders to pay for all new spending with credible offsets, and they strongly support many proposed options to fully fund the package,” said Michael A. Peterson, CEO of the Peterson Foundation.
The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
“As the bill moves through the process, there is no shortage of options to fully pay for these new programs using credible offsets and realistic assumptions," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Medicare spending is projected to rise rapidly.
Medicaid provides health insurance to low-income Americans. Children make up nearly half of the program’s enrollment, but most spending is directed towards the elderly and disabled.
Compensation and medical care make up about 40 percent of the defense budget.
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.
Transfers from programs like Medicaid, CHIP, and SNAP represent an increasing share of income for low to middle income groups.