Government programs that provide benefits to individuals are a cornerstone of our economy, society, and federal budget. Social Security and Medicare are America’s largest social programs, providing critical retirement security and health benefits to millions.
Unfortunately, both of those crucial programs are on an unsustainable path due to the nation’s aging population and rising healthcare costs. Unless lawmakers enact reforms, both Social Security’s Old-Age and Survivors Insurance (OASI) Trust Fund and Medicare’s Hospital Insurance (HI) Trust Fund will become depleted within the coming years. Upon depletion, benefits for the respective programs would face significant and sudden automatic cuts
In addition to Medicare and Social Security, there are a range of social programs serving Americans, including Medicaid, the Children’s Health Insurance Program (CHIP), and various income security programs.
Below is a selection of key charts that provide an overview of some of these crucial social programs, their financial outlook, and how they fit within the federal budget.
Attribution Policy: If you would like to use any of these charts, please credit the "Peter G. Peterson Foundation" and provide the pgpf.org website URL and hyperlink. If you would like to include one of our charts in a commercial product, please email copyright@pgpf.org.
Further Reading
Quiz: How Much Do You Know About Social Security?
Social Security is the cornerstone of financial security for millions of Americans and a major part of the federal budget. Take our quiz to see how much you know.
Three Key Things to Know about CHIP
The Children’s Health Insurance Program is a key piece of the social safety net. Let’s take a look at what CHIP is, how it is financed, and who benefits from it.
The Cost of Doing Nothing About Social Security
Any change to Social Security will impact how Americans approach retirement decisions, but the costliest choice would be doing nothing.