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Moody’s warns of rising costs for social programs

Mandatory spending on social programs, including healthcare and Social Security, could weaken the nation’s long-term fiscal outlook, credit rater Moody’s Investors Service warned Wednesday. The federal deficit is expected to remain stable within the next few years, but Moody’s suggested rising healthcare spending could “put pressure” on the nation’s credit. “The main drivers of the expected growth in healthcare and Social Security spending are the rate of inflation in cost of healthcare services and demand for those services due to the aging of the population,” Moody’s said…Read More

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