Over at Mercatus Center, Veronique de Rugy put together this frightening graph showing the projected composition of federal spending from 2010 to 2084 using data from the Congressional Budget Office’s most recent Long-Term Budget and Economic Outlook. See more here.
According to the Congressional Budget Office, this year $0.48 of every dollar of federal spending will be devoted to Social Security, Medicare and Medicaid, and net interest spending. By 2084, $0.90 of every dollar the federal government spends will go to these auto piloted mandatory programs and to interest payments on the debt.
Every day that Congress puts off reducing the debt and entitlement spending increases the pain of the reckoning when it comes.