It's expected that interest expenses, Social Security, and healthcare will account for 87% of the increase in U.S. government spending over the next decade.

According to CBO estimates, federal spending will rise from $6.8 trillion in FY 2024 to $10.3 trillion in 2034.

$3.0 trillion out of the $3.5 trillion increase will go to Social Security, federal healthcare programs, and interest on government debt.

Interest expenses are projected to be the fastest-growing part of the budget: they will DOUBLE from $892 billion in 2024 to $1.7 trillion by 2034.

Net interest could account for 23% of the spending growth.

Make a post in our subreddit XGramatikInsights, and your thoughts will appear here!

Share the Post:

submitted by /u/XGramatik [link] [comments]

submitted by /u/XGramatik [link] [comments]

Related Posts