Spending on the SNAP program (commonly known as food stamps) has exploded even after adjusting for inflation, despite there not being a surge in poverty that might justify so much spending.
Created November 29, 2023
Source: Department of Agriculture
Federally funded health programs and the tax exclusion for employer-provided insurance are by far the most costly part of the federal government. These costs are set to grow from $1.8 trillion in 2023 to $3.3 trillion in 2033 unless Congress takes action to address this unsustainable problem.
Created October 6, 2023
Source: Congressional Budget Office
Social Security’s shortfall has more than tripled since 2010. Filling the gap with revenue would require a 3.3 percentage point increase in the payroll tax, which would mean thousands of dollars in additional taxes each year for middle-class households. Congressional failure to address the unsustainable growth in spending means that Social Security solvency becomes much harder to reach with each passing year.
Updated July 19, 2024
Source: Social Security Administration
While the current national debt of $33.6 trillion is deeply concerning, Americans should be equally worried about the gap between future tax revenues and promised benefits for Social Security and Medicare, which exceeds $75 trillion.
Additional Sources: Treasury Department, Centers for Medicare & Medicaid Services.
Updated October 24, 2023
Source: Social Security Administration
Social Security’s main programs, the Old-Age and Survivors Insurance and Disability Insurance programs (OASDI), have been expanded to include more beneficiaries. As American society has continued aging, the number of covered workers per OASDI beneficiary has steadily fallen. OASDI is facing persistent deficits and must be reformed before it becomes insolvent in 2034.
Updated December 7, 2021
Source: Social Security Administration
Social Security runs consecutive and permanent cash-flow deficits. Without program reforms, this gap between what the Treasury is collecting in payroll and Social Security income taxes and what is needed to pay benefits will grow several times over despite strong tax revenue increases.
Updated July 19, 2024
Source: Social Security Administration
Spending on Social Security already exceeds $1 trillion annually, as spending on both Disability Insurance (DI) and Old-Age and Survivors Insurance benefits (OASI) continues growing.
Source: Social Security Administration
Health care spending already consumes more of the federal budget than any other area.
Updated March 9, 2023
Source: Congressional Budget Office
Lower- and middle-income Americans who work every year from ages 22 to 65 will pay between $171,000 and $608,000 in payroll taxes for Medicare and Social Security, depending on their income bracket. And though they will receive more in Medicare and Social Security benefits than they paid for, Social Security is a bad deal for workers and their families because they could receive two- to three-times as much, on average, from saving and investing their own money, without adding to the debt burden for younger generations.
Updated May 10, 2019
Source: Urban Institute
Mandatory spending and interest on the debt increase on autopilot. Congress only appropriates funds for the discretionary portion of the budget on an annual basis. Autopilot spending makes up roughly three-quarters of the budget and is growing rapidly.
Updated March 28, 2024
Source: Office of Management and Budget
