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Tuesday, June 21, 2011

Payouts for social programs will outstrip revenue by 2049

I’m offended when Social Security and Medicare are labeled entitlements as though I don’t deserve them. I PAY for them, been paying for 50 years! Just give me back the money I’ve paid in and I will be satisfied…

Medicaid, Food Stamps, and such are entitlements.

Entitlements Will Consume All Tax Revenues by 2049

If the average historical level of tax revenue is extended, spending on Medicare, Medicaid and the Obamacare subsidy program, and Social Security will consume all revenues by 2049. Because entitlement spending is funded on autopilot, no revenue will be left to pay for other government spending, including constitutional functions such as defense.

PERCENTAGE OF GDP

Entitlements Will Consume All Tax Revenues by 2049

Source: Congressional Budget Office.

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