Saturday, November 14, 2015

Entitlement Nightmare | Bar Graph

From CATO:
Because the Obama administration has buried its head in the sand on the entitlement crisis, the next administration will face very ugly budget projections when it comes into office in 2017. The chart below shows the explosive CBO projections for the three largest entitlements. Over the next two presidential terms, spending is expected to grow 62 percent on Social Security, 73 percent on Medicare, and 45 percent on Medicaid. 
Without needed cuts, Social Security will become a $1 trillion program in 2018, and Medicare will top $1 trillion by 2022. These programs are only “working” to put the next generation of taxpayers into the poor house.