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Transfer payments to (persons) as a percent of Federal revenue in the United States Transfer payments to (persons + business) in the United States. CBO projects that spending for Social Security, healthcare programs and interest costs will rise relative to GDP between 2017 and 2027, while defense and other discretionary spending will decline relative to GDP.
This was about half of all mandatory spending. In FY 2016, Social Security accounted for 38 percent of mandatory spending. [5] This accounts for about a little more than one third of all mandatory spending and around 4.3 to 4.8 percent of GDP in the US. Social Security has fluctuated around this level since the 1980s. [3]
The rest of U.S. discretionary spending was allocated for education, training, employment, and social services ($92 billion), as well as transportation ($91 billion), veterans' benefits and services ($68 billion), income security ($66 billion), health ($57 billion), administration of justice ($53 billion), international affairs ($52 billion ...
Discretionary spending is non-essential spending that isn't mandatory for your basic needs like shelter, food, healthcare, work and personal care. Many expenses are essential, but discretionary...
Social Security is a very fluid program that undergoes frequent changes that can impact your monthly benefit payments -- for good or for ill. Some of these changes are already built into the ...
Wisconsin Senator Ron Johnson shared with listeners of "The Regular Joe Show" podcast recently that Social Security and Medicare benefits should be considered "discretionary funds." Here It Is: Our...
The annual cost of Social Security benefits represented 4.0% of GDP in 2000 and 5.0% GDP in 2015. This is projected to increase gradually to 6.4% of GDP in 2035 and then decline to about 6.1% of GDP by 2055 and remain at about that level through 2086. [5]
The Social Security Fairness Act (SSFA), which was recently signed into law by former president Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income from...