• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • entitlement spending

    Government Discretionary Spending to End by 2052

    Following up on yesterday’s post on the Social Security and Medicare Boards of Trustees report, The Heritage Foundation released a chart today looking at how projected spending on entitlement programs is scheduled to crowd out all other spending by 2052 unless taxes as a percentage of GDP are raised significantly:

    Morning Bell: A Crisis That Is Here to Stay

    The Social Security and Medicare Boards of Trustees released their annual financial review yesterday, finding that over the next 75 years the two programs have promised to pay out $42.9 trillion more in benefits then they have scheduled to take in. Numbers this large and time frames that long can … More

    House Budget Puts Huge Burden on America's Children

    As the House prepares to vote on the Democrat budget resolution, let’s take another look at what the plan would mean for hard-working Americans: It raises taxes by $1.265 trillion over five years and $3.911 trillion over 10 years, or more than $3,135per household annually; It includes 17 reserve funds … More

    Morning Bell: Higher Taxes Still Slow Economy

    When the next President takes offices in 2009, he or she will inherit a more than $400 billion deficit (almost half of which will come from the recently passed economic stimulus). Worse, as the National Taxpayers Union has calculated, a President Barack Obama will come to office with $287 billion … More

    Not the Medicare Modernization Our Country Needs

    Moments ago, President Bush fulfilled his legal obligation under the Medicare Modernization Act of 2003 (MMA) by submitting a Medicare cost containment proposal to Capitol Hill. MMA obligated the president to submit a proposal after the latest Medicare trustee report found that Medicare spending will exceed 45% of total outlays. … More

    A Health Care Crisis and an Entitlement Crisis

    USA Today’s Dennis Cauchon wrote an insightful front-page story today showing that the cost of government benefits for seniors reached $27,289 per senior in 2007. Social Security, Medicare and Medicaid benefits continue to grow much faster than inflation, and as 77 million baby boomers reach retirement in the coming decades, … More

    Morning Bell: Throwing Our Fiscal Health Overboard

    The United States passed a generational milestone yesterday when 62-year-old Kathleen Casey-Kirschling became the first baby boomer to receive a Social Security payment. A life-long Democrat, Casey-Kirschling (pictured to the right on her yacht) proudly told reporters from her winter home in Vero Beach, Fla., “I trust Social Security.” A … More

    What to Expect in the State of the Union

    Brian Darling previews President Bush’s final State of the Union address, noting that Iraq, free trade and taxes will be major themes of the speech. Darling also appeared on the National Association of Manufacturers’ “American Business With Mike Hambrick” to share his thoughts about the speech. [youtube]http://www.youtube.com/watch?v=pIwPLTGppis[/youtube] The White House, … More