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
What Is the Farm Bill, and Why Does It Matter for the Federal Budget?
The Farm Bill provides an opportunity for policymakers to comprehensively address agricultural, food, conservation, and other issues.
Social Security Reform: Options to Raise Revenues
Here are the pros and cons for three approaches to increasing funds dedicated to Social Security.
Lawmakers are Running Out of Time to Fix Social Security
Without reform, the combined Social Security trust funds will be depleted in 2035.