Medicare Adding to Federal Deficits Faster than Other Government Spending Programs

Entitlement spending is the main cause of long-term runaway federal deficits. Medicare is the fastest-growing program due to retiring baby boomers, the effects of an aging population, and rising healthcare costs.

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PERCENTAGE OF GDP

Medicare Adding to Federal Deficits Faster than Other Government Spending Programs

Source: Congressional Budget Office (Alternative Fiscal Scenario).

Entitlement Spending Will Nearly Double by 2050
Tax Revenues Devoured By Medicare, Medicaid, and Social Security in 2045
Medicare Adding to Federal Deficits Faster than Other Government Spending Programs
Social Security Deficits are Permanent and Growing
Without Entitlement Reform, Federal Spending Will Exceed 40 Percent of the Economy by 2050
Discretionary Spending Cuts Alone Will Not Balance the Budget
Even Eliminating Defense Spending Completely Would Not Balance the Budget
Letting Tax Cuts Expire Will Not Balance the Budget
Balancing the Budget Without Cutting Spending Would Cause Taxes to Skyrocket
Hiking Taxes to Balance the Budget Would Require Doubling Tax Rates
Taxing the Wealthy to Balance the Budget Will Not Work
Government Policy Reform Needed to Keep Spending Low and End Deficits Without Raising Taxes

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More Resources

LECTURE ON NOVEMBER 22, 2011 How to Think About Medicare Reform

BACKGROUNDER ON FEBRUARY 02, 2012 Medicare Premium Support: The Best Reform Option

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Medicare Adding to Federal Deficits Faster than Other Government Spending Programs

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