Download or read book Federal Mandatory Spending on the Elderly written by United States. General Accounting Office. Accounting and Information Management Division and published by . This book was released on 2000 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Mandatory Spending on the Elderly written by United States. General Accounting Office. Accounting and Information Management Division and published by . This book was released on 2000 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Older Americans and the Federal Budget written by and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Spending on the Elderly and Children written by Dan L. Crippen and published by DIANE Publishing. This book was released on 2008-06 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2000 an analysis of fed. spending on people over age 64 and under 18 concluded: In FY2000, the fed. gov¿t. will spend over 1/3 of its budget -- $615 billion -- on transfer payments and services for people age 65 or older. Fed. spending on children in 2000 will total $148 billion. In 10 years, spending on the elderly and children combined will account for more than half of total gov¿t. spending, with the elderly¿s share making up roughly 4/5 of that amount. Entitlement programs account for the overwhelming share of spending on the elderly but a much smaller portion of spending on children. Fed. spending on the avg. person age 65 or older will rise from $17,700 in 2000 to $21,100 in 2010; and per child will increase from $2,100 in 2000 to $2,500 in 2010. Ill.

Download or read book Federal Mandatory Spending On The Elderly 163626 U S GAO May 11 2000 written by and published by . This book was released on 2000* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Entitlements and the Elderly written by Marilyn Moon and published by The Urban Insitute. This book was released on 1996 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elderly Americans are now protected by three major entitlements: Social Security (cash benefits), Medicare (health benefits for all elderly), and Medicaid (additional health benefits for low-income elderly). All are threatened with cuts. Medicaid is further threatened because turning it over to the states eliminates its universal entitlement status. The range of the proposed changes is unprecedented. This book does not question the need to make cuts. The authors' point is that the whole three-part structure of entitlement should be considered together. Further, looking for cuts first is the wrong way to go. Look for needed improvements in responsiveness and efficiency first, say the authors. Then add up how much these changes would save and decide how these savings should best be used. Pursuing this strategy, the authors identity many changes that are worth serious consideration.

Download or read book The Federal Budget and the Economic Status of the Elderly written by United States. Congress. House. Committee on the Budget and published by . This book was released on 1991 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On Borrowed Time written by and published by Transaction Publishers. This book was released on with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entitlements represent one of the largest and fastest-growing portions of the federal budget. They are regarded as sacrosanct by lawmakers, yet many people see them as one of the greatest threats to the American Dream. This volume argues that by sacrificing the future in order to pay ever-larger federal benefits through programs such as Social Security, Medicare, and federal pensions, entitlement spending has become a crushing burden to American workers. Peterson and Howe destroy myths surrounding entitlement spending. They show that the bulk of it does not go to the poor. The majority of the elderly are not needy and dependent. Entitlement programs, not defense spending, consume the largest share of the federal budget. In short, we cannot balance the budget without reducing entitlement spending. In a country that demands critical investments--improving public education, alleviating poverty, increasing professional opportunity--growth in entitlement spending is unaffordable. On Borrowed Time is an important and timely book that will be mandatory reading for policymakers, politicians, economists, and a general public concerned with its financial future. "This book should be read by everyone who wants to understand how government spending can be controlled."--Martin Feldstein, George F. Baker Professor of Economics, Harvard University "A powerful analyses and policy prescriptions which will challenge every thoughtful person coping with the dilemma of providing humane, but cost effective, entitlements."--Michael J. Boskin, Professor of Economics, Stanford University Peter G. Peterson is chairman and co-founder of The Blackstone Group. He is chairman of the Federal Reserve Bank of New York, chairman of the Council on Foreign Relations, founding chairman of the Institute for International Economics (Washington, D.C.), founding president of The Concord Coalition, and co-chair of The Conference Board Commission on Public Trust and Private Enterprises. Neil Howe is a partner and co-founder of LifeCourse Associates, a Virginia-based consulting firm and senior associate at the Center for Strategic and International Studies. A historian, economist, author, and speaker, he is the co-author (with William Strauss) of several books, including Generations, The Fourth Turning, and Millennials Rising.

Download or read book The Role of Health Care Spending in Projecting Federal Elderly Entitlement Spending written by Andrew J. Rettenmaier and published by . This book was released on 2009 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Saving Seniors and Our Most Vulnerable Citizens from an Entitlement Crisis written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Health and published by . This book was released on 2013 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Budgetary Effects of the Growth of Health Care Entitlements written by United States. Congress. House. Committee on Commerce. Subcommittee on Health and the Environment and published by . This book was released on 1995 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Health Insurance is a Family Matter written by Institute of Medicine and published by National Academies Press. This book was released on 2002-09-18 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health Insurance is a Family Matter is the third of a series of six reports on the problems of uninsurance in the United Sates and addresses the impact on the family of not having health insurance. The book demonstrates that having one or more uninsured members in a family can have adverse consequences for everyone in the household and that the financial, physical, and emotional well-being of all members of a family may be adversely affected if any family member lacks coverage. It concludes with the finding that uninsured children have worse access to and use fewer health care services than children with insurance, including important preventive services that can have beneficial long-term effects.

Download or read book Mandatory Spending written by and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal spending amounts to almost 20% of gross domestic product (GDP) and the federal deficit stands at nearly 4% of GDP. Projections suggest that with no changes in policy and the impending retirement of the large baby boom generation the United States is facing a long-term fiscal imbalance. Efforts to reduce the federal deficit and the long-term fiscal strain may include reductions in entitlement spending, a major component of mandatory spending. Mandatory spending is the government spending where the budget outlays are controlled by laws other than appropriation acts, and includes such popular programs as Social Security and Medicare. Other programs included in mandatory spending are temporary assistance to needy families (TANF), supplemental security income (SSI), unemployment insurance, veterans benefits, federal employee retirement and disability, food stamps, and the earned income tax credit. The composition of mandatory spending has changed over the past 40 years. In 1962, before the introduction of Medicare, Medicaid, and SSI, mandatory spending accounted for less than 30% of all federal spending and Social Security accounted for half of all mandatory spending. By 2004, mandatory spending comprised over half of total federal spending and Social Security made up about 40% of mandatory spending. The fastest growing components of mandatory spending have been Medicare and Medicaid, which together accounted for over 36% of mandatory spending by 2004. Mandatory spending has grown relative to GDP, with most of the growth occurring before 1975. Both Medicare and Medicaid have steadily grown relative to GDP from almost nothing in 1965 to about 3.8% of GDP in 2004. Social Security grew from 2.5% of GDP in 1962 to 4.3% in 2004. And lastly, SSI has been and is projected to continue to amount to between 0.2% and 0.3% of GDP. The aging of the U.S. population, increasing life expectancy, and rising health care costs will put severe pressure on the federal budget over the next 75 years. Medicare and Medicaid are projected to amount to 5.3% of GDP by 2015 and to 18.9% in 2080. Social Security is projected to be 4.5% of GDP in 2015 and 6.4% of GDP by 2080. With discretionary spending reduced to historic lows, any significant reductions in federal spending are likely to come from mandatory spending. Since most of the increases in federal spending occur in Social Security, Medicare, and Medicaid, these programs are likely to be targets for budget reductions. Focusing budget cuts on these three key programs, however, could compromise their goals and adversely effect the elderly and the poor. Over the next 75 years, the growth in Medicare and Medicaid are projected to be the largest contributors to the long-term fiscal shortfall. Fundamental reform of these programs may be proposed to eliminate the long-term fiscal strains while preserving the goals of these programs. This report will be updated annually.

Download or read book Addressing the Long Run Budget Deficit written by Jane G. Gravelle and published by Createspace Independent Pub. This book was released on 2013-01-04 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: A small share of federal spending is for direct provision of domestic government services, which many people may think of when considering federal spending. Since this spending is normally about 10% of total federal spending and about 2% of GDP and deficits excluding interest are projected to be as much as 7.7% of GDP by 2037, cutting this type of spending can make only a limited contribution. Transfers and payments to persons and state and local governments constitute most of federal spending, about 70%. Defense spending, currently accounting for about 20% of spending, has declined over the past 35 years, but also tends to vary depending, in part, on the presence and magnitude of international conflicts. Until the recent recession, most types of nondefense spending have been constant or declining as a percentage of output, but spending for the elderly and health care has been rising. Although some increase in the debt can be attributed to the Bush tax cuts and the conflicts in Iraq and Afghanistan, along with growth in spending on the elderly and health care, the current debt level is not the result of prolonged and significant past deficits. Debt grew during the recession and its aftermath. Federal debt held by the public had actually declined from almost 50% of GDP in 1993 to 33% in 2001; it rose slightly to 36% by 2007. During the three recession/recovery years (2008 through 2010), it rose to 62%, and is projected to continue to grow somewhat, before stabilizing for a while. The problem with the debt is due to growth in spending for health care and Social Security if current policies continue. In addition, much of the pressure on future spending arises from imbalances in Social Security and Medicare A (Hospital Insurance) trust funds; thus, keeping these funds and their financing sources intact is an objective that could constrain choices. Because contributions from discretionary spending appear inadequate to reduce the deficit to a sustainable level, limiting taxes as a percentage of output or constraining the overall size of the government to current levels would likely require significant cuts in mandatory spending, which includes entitlement programs such as Social Security, Medicare, and Medicaid. Preserving entitlements would eventually require increases in taxes; by one projection the difference between spending on Social Security plus health and taxes leaves less than 2% of GDP for all discretionary and other mandatory spending. Options include allowing the Bush tax cuts to expire, reducing tax expenditures, increasing other taxes, or introducing new revenue sources. Tax expenditures may be difficult to eliminate, but if not used to lower rates they may be a source of additional revenue. Addressing the eventual Social Security trust fund shortfall largely with tax increases would smooth burdens of accommodating longer lives across both working and retirement years. This argument might also apply, in part, to Medicare and Medicaid. Because the federal government provides about a fifth of the revenue for state and local governments, cutbacks in transfers to these governments may, in part, shift the burden of providing services from the national to subnational governments, rather than altering the overall size of government services.

Download or read book Seniors Access to Prescription Drug Benefits written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Health and published by . This book was released on 2001 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Options for Reducing the Deficit written by Congress, Congressional Budget Office and published by Government Printing Office. This book was released on 2016 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents 115 options that would decrease federal spending or increase federal revenues over the next decade. The federal budget deficit in fiscal year (FY) 2016 totaled $587 billion or 3.2 percent (%) of gross domestic product (GDP), up 2.5 percent (%) in year 2015. The options cover many areas ranging from defense to energy, Social Security and provisions of the tax code. This edition reports the estimated budgetary effects of various options and highlights some of the advantages and disadvantages of those options. Students pursuing research for economic coursework in high school, community college, and university levels may be interested in this vision presented by the Congressional Budget Office, Additionally, economists, federal budget analysts, political science scholars, financial planners, and lawmakers may be interested in this official resource. Related products: Other products produced by the U.S. Congressional Budget Office (CBO) are available here: https: //bookstore.gpo.gov/agency/237Economic Policy resources collection can be found here: https: //bookstore.gpo.gov/catalog/budget-economy/economic-policyEconomic Development publications are available here: https: //bookstore.gpo.gov/catalog/budget-economy/economic-development