Healthcare Costs Are a Major Driver of the National Debt and Here’s Why
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
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One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
As a large portion of the American population lives well beyond retirement age, the total cost of providing healthcare will grow as well.
https://www.pgpf.org/blog/2024/05/how-does-the-aging-of-the-population-affect-our-fiscal-health
Tax expenditures are costly for the federal government but they can be effective vehicles for lawmakers to achieve policy goals.
The federal government spent $90 billion on housing assistance in 2021, an increase of almost 70 percent from the preceding year.
Without reform, the Social Security Trust Funds will soon be depleted and unable to pay full benefits.
Today, the Social Security and Medicare Trustees released their annual reports on the programs’ financing, showing that the future of these vital programs remain at risk.
https://www.pgpf.org/blog/2024/05/social-security-and-medicare-are-facing-serious-shortfalls
Average income among households in the lowest fifth of the income distribution was $21,900, while income for households in the highest fifth averaged $357,800.
https://www.pgpf.org/blog/2024/01/5-facts-about-rising-income-inequality-in-the-united-states
Income levels for Americans vary across geography, race, and gender.
https://www.pgpf.org/blog/2024/05/income-and-wealth-in-the-united-states-an-overview-of-recent-data
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
Despite lawmakers’ claims, analysts anticipate that a large portion of the spending called for by the infrastructure package will need to be deficit financed.
https://www.pgpf.org/blog/2023/08/bipartisan-infrastructure-bill-less-than-40-percent-paid-for