Wall Street Silver on Nostr: Shock statistics ... Mandatory spending in the US budget (Social Security, Medicare, ...
Shock statistics ...
Mandatory spending in the US budget (Social Security, Medicare, Medicaid) was $3.742 trillion in 2023.
All govt revenues were $4.439 trillion in 2023.
Mandatory spending was 84% of all tax revenue.
Meaning everything else in the budget like defense, interest on the debt and everything else is mostly on borrowed money (the budget deficit).
That is why debt is growing at $3 trillion per year.
Mandatory spending in the US budget (Social Security, Medicare, Medicaid) was $3.742 trillion in 2023.
All govt revenues were $4.439 trillion in 2023.
Mandatory spending was 84% of all tax revenue.
Meaning everything else in the budget like defense, interest on the debt and everything else is mostly on borrowed money (the budget deficit).
That is why debt is growing at $3 trillion per year.