Deficits Grow in Recessions
Recessions and countercyclical policies generally increase deficits, but deficits tend to diminish during and after recoveries.
https://www.pgpf.org/chart-archive/0307_deficits_and_recessions
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Recessions and countercyclical policies generally increase deficits, but deficits tend to diminish during and after recoveries.
https://www.pgpf.org/chart-archive/0307_deficits_and_recessions
The growing cost of prescription drugs presents a significant challenge to the quality and affordability of healthcare in the United States.
Total U.S. health spending (public and private) is projected to rise to nearly one-fifth of the economy by 2025.
https://www.pgpf.org/chart-archive/0056_health-care-costs-proj
Medical spending increases rapidly with age.
https://www.pgpf.org/chart-archive/0020_medical-spending-by-age
Social Security will run a cumulative cash deficit of $2.9 trillion between now and 2035.
https://www.pgpf.org/chart-archive/0030_social-security-deficits-gdp
The elderly population is growing rapidly and living longer.
https://www.pgpf.org/chart-archive/0045_elderly-population-trends
Recent news stories have highlighted the good news that very near-term deficits are decreasing. That good news, unfortunately, will be short-lived.
https://www.pgpf.org/blog/2014/02/good-news-about-improving-deficits-will-be-short-lived
Fixing the budget requires addressing the root cause of the long-term deficits: escalating Social Security and Medicare shortfalls.
Interest costs are projected to grow substantially.
Mandatory programs and interest costs will take over more of the federal budget, squeezing discretionary programs.
https://www.pgpf.org/chart-archive/0156_mandatory_discretionary_pies