Biden’s Budget Shows the Rising Cost of Leaving
Medicare and Social Security Untouched
https://www.wsj.com/articles/bidens-budget-shows-the-rising-cost-of-leaving-medicare-and-social-security-untouched-396d8ad2
https://www.wsj.com/articles/bidens-budget-shows-the-rising-cost-of-leaving-medicare-and-social-security-untouched-396d8ad2
As Lawmakers Spar Over Social Security, Its Costs Are Rising Fast
https://www.nytimes.com/2023/02/15/us/politics/social-security-costs-biden-republicans.html
https://www.nytimes.com/2023/02/15/us/politics/social-security-costs-biden-republicans.html
How 31 Presidential Budgets Compared with Reality
https://www.nytimes.com/interactive/2023/03/10/upshot/presidential-budgets-reality.html
U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
https://www.nytimes.com/2023/02/15/business/national-debt-biden.html
America’s $31.4 trillion national debt is the product of policy choices and economic shocks, largely since the turn of the century, when the federal government last spent less money than it received in tax revenues. Tax cuts signed into law by Presidents George W. Bush, Barack Obama and Donald J. Trump reduced government revenues. Wars in Iraq and Afghanistan started under Mr. Bush were not offset by tax increases. Mr. Obama, Mr. Trump and Mr. Biden signed into law trillions of dollars of emergency spending to combat the 2008 financial crisis and the 2020 pandemic recession.
The new report confirmed what analysts have predicted for years: that the costs of providing Social Security and Medicare benefits to retiring baby boomers are set to grow rapidly in the decade to come.
My warning from 2018:
Does the US Face a Long-Term Fiscal Sustainability Problem?
https://www.ut.edu/uploadedFiles/Academics/Business/Economics/TBEFall2018.pdf
https://www.nytimes.com/2023/02/15/business/national-debt-biden.html
America’s $31.4 trillion national debt is the product of policy choices and economic shocks, largely since the turn of the century, when the federal government last spent less money than it received in tax revenues. Tax cuts signed into law by Presidents George W. Bush, Barack Obama and Donald J. Trump reduced government revenues. Wars in Iraq and Afghanistan started under Mr. Bush were not offset by tax increases. Mr. Obama, Mr. Trump and Mr. Biden signed into law trillions of dollars of emergency spending to combat the 2008 financial crisis and the 2020 pandemic recession.
The new report confirmed what analysts have predicted for years: that the costs of providing Social Security and Medicare benefits to retiring baby boomers are set to grow rapidly in the decade to come.
My warning from 2018:
Does the US Face a Long-Term Fiscal Sustainability Problem?
https://www.ut.edu/uploadedFiles/Academics/Business/Economics/TBEFall2018.pdf