Tax Revenues Devoured By Medicare, Medicaid & Social Security by 2045 – Heritage Foundation

Our Government needs to be putting everything on the table when it comes to balancing our federal budget. I am not a fan of demonizing one program or the next, but I do believe that if we don’t act sooner than later, we are going to have to make cuts that will be hard to live with.  See chart courtesy of the Heritage Foundation.

Medicare, Medicaid & Social Security are important programs that need to get reformed if they are to be solvent in the future.  Democrats believe that budget plans proposed by Paul Ryan would be too great and devastate these programs (slash-and-burn), however, here are some facts on the budget according to Fox News:

Here are a few little-known facts about Paul Ryan’s supposedly slash-and-burn budget plan.

Government spending increases almost every year over the next decade
- Tax and other revenue rises year after year
- The 10-year deficit is still $3 trillion

To be sure, Ryan is proposing major changes to Medicare and taxation that Democrats see as problematic. But claims that Ryan is slashing spending don’t quite square with the numbers. Those claims are convenient Washington shorthand for what Ryan’s plan actually proposes — which is to slow the rate of budget growth, but still allow the budget to grow
Under the latest Ryan plan, the budget would grow from $3.6 trillion this year to $4.9 trillion in 2022. The only years in which spending would dip are 2013 and 2014.

Under President Obama’s 2013 budget, spending also increases over the 10-year period, but by a much bigger amount. The budget grows from $3.8 trillion in 2012 to $5.8 trillion in 2022. And instead of the $3.1 trillion long-term deficit under Ryan’s plan, Obama’s plan comes with a $6.7 trillion deficit

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