The federal government currently spends more than one-third of its budget on benefits and programs for older Americans. For people age 65 and over, estimated FY2005 spending for Social Security, Medicare, and Medicaid alone is $713 billion. Spending for retired federal employees and military personnel and for veterans is also significant, and smaller programs add to the total as well. In addition, tax expenditures might be taken into account to obtain a more complete budget picture.
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Description
The federal government currently spends more than one-third of its budget on benefits and programs for older Americans. For people age 65 and over, estimated FY2005 spending for Social Security, Medicare, and Medicaid alone is $713 billion. Spending for retired federal employees and military personnel and for veterans is also significant, and smaller programs add to the total as well. In addition, tax expenditures might be taken into account to obtain a more complete budget picture.
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Congressional Research Service Reports
The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.
Grady, April; Lyke, Bob & Rimkunas, Richard.Federal Spending for Older Americans,
report,
December 21, 2004;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metacrs7401/:
accessed April 25, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.