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To put it bluntly, Social Security, Medicare, and Medicaid are cannibalizing the entire federal budget. //
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. //
The (bloated) spending bills passed in March added nearly $1.3 trillion to the 10-year deficit, as higher spending this fiscal year leads CBO to assume (not incorrectly, in most cases) that spending will continue at those higher levels in the future.
Spending on Medicaid and Obamacare subsidies will increase deficits by $511 billion in the coming decade, in large part because more people will continue signing up for “free” coverage. The budget office also noted that “the recent surge in immigration [has] made more people than CBO previously estimated eligible for” Obamacare subsidies, accounting for an increase in projected enrollment. //
To put it bluntly, Social Security, Medicare, and Medicaid are cannibalizing the entire federal budget. Unless and until Congress stops the “Mediscare” rhetoric and gets serious about reforming these programs, our financial situation will continue to get worse. And Lord help the next generation if we don’t wake up and come to our senses sooner rather than later.