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.
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Further Reading
Swing State Voters Want Harris and Trump to Give Detailed Plans for Shoring Up Social Security
The majority of voters in key battleground states say it’s important for presidential candidates to have a plan to prevent automatic cuts to Social Security.
What Is SNAP? An Overview of the Largest Federal Anti-Hunger Program
SNAP is the largest federal program aimed at combating hunger and food insecurity among low-income Americans.
Without Reform, Social Security Could Become Depleted Within the Next Decade
As the largest program in the federal budget, Social Security is a critical part of our nation’s fiscal picture and vital to millions of elderly recipients.