Jul
16

Expensive Entitlements

In FY 2014, Medicare, Medicaid and other healthcare programs accounted for 25% of federal government spending, Social Security was 24%, welfare and other entitlements claimed 11%, and interest on the debt was 7%. That leaves 33% for discretionary spending. But defense was 17%, leaving just 16% of the budget or $560 billion for all other programs. Coincidentally, that  almost equals the FY 2014 budget deficit of $483 billion.

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