The United States Spends More on Defense than the Next 9 Countries Combined
Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023.
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Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world in 2023.
Spending for mandatory programs and net interest is projected to putpace all other non-interest spending.
https://www.pgpf.org/chart-archive/0174_SS_major_health_climb
Since its establishment in 2008, the Peter G. Peterson Foundation has been dedicated to advancing solutions to our nation’s long-term fiscal challenges.
https://www.pgpf.org/analysis/the-peter-g-peterson-foundation-progress-report-2008-2011
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Tax breaks totaled over $1.8 trillion in 2023. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare and Medicaid.
https://www.pgpf.org/blog/2023/12/eight-of-the-largest-tax-breaks-explained
The Peter G. Peterson Foundation’s 2011 Fiscal Summit featured results from the Foundation’s Solutions Initiative and sparked ongoing conversations between thought leaders and policymakers about bipartisan solutions to our nation’s long-term fiscal challenge.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
Healthcare spending in the United States is a key driver of the nation’s fiscal imbalance and has risen notably over the past few decades.
https://www.pgpf.org/blog/2024/03/7-key-facts-about-us-healthcare-spending
Higher short- and long-term Treasury rates mean that the federal government's borrowing costs will also rise.
Improving our healthcare system to deliver better quality care at lower cost is critically important to our nation’s long-term economic and fiscal well-being.
https://www.pgpf.org/infographic/infographic-us-healthcare-spending