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Federal Spending on Children vs. The Elderly
The Committee for a Responsible Federal Budget (CFRB) is beginning to sound the alarm on projections that future spending for children will shrink significantly. CFRB estimates spending on children will fall to 1.9 percent of GDP by 2048. “Spending on children will only be one-third as large as spending on adults collecting Social Security or adults collecting Medicare – implying that the federal government will spend at least six times as much on the elderly as on children. Meanwhile, the federal government will spend less than a third as much on children as it spends on interest on the debt.” Read more…