INFO GRAPHIC & VIDEO: Current and Projected National Debt as a Share of the Economy according to the U.S. Congressional Budget Office

Current and Projected National Debt according to the U.S. Congressional Budget Office

Current and Projected National Debt according to the U.S. Congressional Budget Office


How to Fix our Fiscal Crisis | LearnLiberty
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Payroll tax revenues dedicated to these programs are not sufficient to cover their costs. Medicare HI refers to Hospital Insurance (Part A). Other parts of Medicare also are costly. Note that the Social Security surplus tax receipts reduce the "total" deficit figure often reported in the media. If we go from a $200 billion Social Security surplus today to a $200 billion deficit in the future, this is a $400 billion increase to the deficit often reported in the media.

Jeff Miron-Senior Lecturer and Director of Undergraduate Studies at Harvard

What is the single most important thing that can be done to fix the U.S. budget deficit? Harvard economist Jeff Miron says the answer is clear: cut entitlements. Miron explains that as currently structured, the costs of Medicare, Medicaid, and Social Security will continue to grow rapidly, eclipsing all other U.S. spending (including National Defense) in the next couple of decades. Miron argues that without making cuts to these programs, there is no hope of getting spending under control.

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About GREGinSD

A Generation X|Y'er that resides in beautiful San Diego, Ca.
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One Response to INFO GRAPHIC & VIDEO: Current and Projected National Debt as a Share of the Economy according to the U.S. Congressional Budget Office

  1. Pingback: Health Exchanges: Common Ground for Medicare Reform? (BusinessWeek) | Entrepreneur-Skills

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