Record for the most money ever spent by a federal agency or department in a single year.
U.S. spent more than $1.1 trillion on Medicare and Medicaid in past year
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Fun fact: In 1965, when Medicare and Medicaid were created, the entire federal budget was only $878 billion in 2013 dollars. Now?
The Centers for Medicare and Medicaid Services, which runs the federal government’s major health-care programs as well as the Obamacare insurance exchange, spent $1,113,178,000,000 in fiscal 2013, according to the Monthly Treasury Statement for September, which was released last week.
That sets a record for the most money ever spent by a federal agency or department in a single year.
Some achievement. If anyone who had a hand in creating these entitlements back in 1965 is still alive today, imagine the pride with which they must realize they created a program that would eventually become bigger than the entire federal government was at the time they created it.
This doesn’t even include Social Security spending, which is now running around $1.1 trillion per year. These three entitlement programs are costing the federal government just about every penny it takes in in tax revenue, meaning that everything else we spend (including the massive looming cost of ObamaCare) has to be paid for by borrowing.
Suggest that we need to restructure these programs, though, and the Democrats will run a commercial showing you pushing grandma in her wheelchair off a cliff. And 51 percent of you will reward the Democrats for this by re-electing them.
We get the government we deserve.