All Tax Revenue Spent on Entitlements and Net Interest by 2030
Created on October 17, 2014
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In less than two decades, all projected tax revenues will be consumed by three federal programs (Medicare, Social Security, and Medicaid, which includes CHIP and Obamacare) and net interest on the debt. Entitlement reform is a must.
Sources: Congressional Budget Office, The 2013 Long-Term Budget Outlook, September 17, 2013, http://cbo.gov/publication/44521 (accessed September 30, 2013), and Office of Management and Budget, Historical Tables: Budget of the U.S. Government, Fiscal Year 2014, April 10, 2013, http://www.whitehouse.gov/omb/budget/Historicals (accessed October 9, 2013).
CHART 3 • BG 2960
Tags: government-waste, spending,