Mature Market Experts Stat of The Day: Entitlement Spending

Boomer / Senior / Mature Market Stat of the Day – The chart above shows the projected share of tax revenue consumed by entitlement spending in 2010, 2040 and 2050. 

“While total tax revenue is projected to remain more or less constant, at about 19% of total gross domestic product (GDP), spending on Social Security, Medicare and Medicaid is expected to balloon from 8% in 2010 to 18% of GDP by 2050 because of the graying of boomers and the increasing cost of health care. How will the government pay for everything else? Exactly. Expect tax increases, program cuts, deficit spending or a mix of the three.”

Source: CNNMoney.com

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