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The single best graph on what’s driving our deficits – Ezra Klein

12 Nov

The White Paper from the Congressional Budget Office is worth a look,….. unless you’re one of those people who only believe the CBO when they come up with numbers that you agree with. If you disagrree, their numbers are skewed and worthless, and the CBO can’t be trusted.

You know who you are.

The single best graph on what’s driving our deficits

Ezra Klein

From the Congressional Budget Office’s hot new white paper, “Options for Deficit Reduction“:

That’s all of the federal government’s spending in three graphs. The top graph is health care, including Medicare, Medicaid and the Affordable Care Act. The middle graph is Social Security. And then there’s literally everything else: Defense, education, infrastructure, food safety, R&D, farm subsidies, the FBI, etc.

What these three charts tell you is simple: It’s all about health care. Spending on Social Security is expected to rise, but not particularly quickly. Spending on everything else is actually falling. It’s health care that contains most all of our future deficit problems. And the situation is even worse than it looks on this graph: Private health spending is racing upwards even faster than public health spending, so the problem the federal government is showing in its budget projections is mirrored on the budgets of every family and business that purchases health insurance.

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1 Comment

Posted by on November 12, 2012 in Economy, Education, Environment, foreign affairs, Health, Politics

 

One response to “The single best graph on what’s driving our deficits – Ezra Klein

  1. catherinephung

    November 12, 2012 at 8:46 am

    Reblogged this on catherinephung.

     

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