Federal Spending Composition
Mandatory spending accounts for about two-thirds of the budget.
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Mandatory spending accounts for about two-thirds of the budget.
Medicare is an essential health insurance program serving millions of Americans, and a major part of the federal budget and our fiscal outlook.
Medicare and Medicaid account for the majority of federal healthcare spending
https://www.pgpf.org/chart-archive/0169_federal_health_spending_composition
Historically, debt and deficits rose with wars and economic downturns. Today, they rise from factors such as growing healthcare costs and an aging population.
Beyond 2030, rising interest costs are the driving factor in projected growth in annual deficits.
https://www.pgpf.org/chart-archive/0280_net_interest_primary_deficit
Recessions and countercyclical policies generally increase deficits, but deficits tend to diminish during and after recoveries.
https://www.pgpf.org/chart-archive/0307_deficits_and_recessions
The U.S. tax system is progressive, with higher-income taxpayers facing higher tax rates.
Debt rises and falls with wars and changes in the economy. Debt is currently at its highest level since 1946.
The national debt is on an unsustainable path.
https://www.pgpf.org/chart-archive/0202_federal-debt-proj-since-1930