Social Security, Medicare, And Medicaid Are Cannibalizing The Entire Federal Budget, by Chris Jacobs

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U. S. CAPITOL. IMAGE CREDIT. DARREN HALSTEAD. UNSPLASH

By Chris Jacobs, The Federalist, June 24, 2024

Chris Jacobs is founder and CEO of Juniper Research Group, and author of the book “The Case Against Single Payer.”

 

CBO increased the estimated budget deficit for the current fiscal year by $408 billion and the 10-year budget deficit by nearly $2.1 trillion.

Author Christopher Jacobs profileJust when you think things couldn’t get worse on the fiscal front, Washington once again manages to exceed expectations. One couldn’t help but get that impression from the latest update to the nation’s (poor) budget situation.

The Congressional Budget Office (CBO) recently released revised estimates of the nation’s budget and economic outlook over the coming years. While the prior version of the document, released in February, didn’t exactly show a fiscally responsible federal government, the intervening four months saw lawmakers digging taxpayers — that’s you and me — into an even deeper hole. …