Debt has become a way of life in America
February 6, 2024
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It’s impossible to talk about debt without numbers. But as our mentor Senator Tom Coburn, MD, taught us, debt is about more than numbers. It’s
It’s impossible to talk about debt without numbers. But as our mentor Senator Tom Coburn, MD, taught us, debt is about more than numbers. It’s
The Tax Cuts and Jobs Act of 2017 capped the federal tax deduction for state and local taxes (SALT) at $10,000 for single taxpayers and
Currently, employer-provided health insurance is excluded from federal taxation. This tax exclusion represents the largest tax expenditure in the federal budget, leading to an estimated
With spending of $1.1 trillion in 2021, Social Security is the largest program in the federal budget. In that year, Social Security spending came to
Current law makes automatic cost-of-living adjustments for many entitlement programs based on the consumer price index (CPI). The Bureau of Labor Statistics (BLS) adopted another
Social Security’s current benefit formula is progressive, where beneficiaries with lower lifetime earnings receive higher benefits compared to their earnings than those with higher lifetime
In 2021, Federal spending on Medicare amounted to $689 billion or 3.1% of GDP. Government actuaries project Medicare’s hospital insurance trust fund will go insolvent
Medicare is an extraordinarily complex program, consisting of four parts that provide payments to health care providers to reimburse them for health care services or
In addition to Medicare savings, the plan assumes savings in the Medicaid program and through malpractice reform. Medicaid is a joint Federal-state health care program
As the government increases debt, it puts upward pressure on interest rates. In their economic July long-term economic projections, CBO projects the interest rate on
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