25 Feb HEALTH CARE SPENDING OVERTAKES SOCIAL SECURITY
The Congressional Budget Office recently reported that spending on programs such as Medicare and Medicaid, including the additional subsidies resulting from the Affordable Care Act (Obamacare), has resulted in exceeding Social Security spending for the first time in history. A total of $936 billion was spent on federal health programs compared to $882 billion for Social Security. Spending on such health care programs in 2015 has almost doubled the average annual rate of increase during the prior decade eating a larger and larger portion of the federal budget and increasing the federal deficits.
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