Here are a couple of types of spending increases that will appear in upcoming Federal budgets:
[A] CBO report finds that mandatory spending, which includes Social Security, Medicare, and Medicaid, is projected to rise $85 billion, or 4%….
Interest on the debt is worse. It is projected to increase 14% per year, almost quadrupling in dollar terms between 2014 and 2024.
DoD Secretary Chuck Hagel’s proposed budget cuts Defense spending by $75 billion over the next two years.
The “mandatory” spending problem could be cured over those same two years, with a proper reform package.
From $416 billion in interest payments in 2013, that 14% increase for 2014 comes to $58 billion; for 2015, the first year of President Barack Obama’s budget proposal (which includes that “mandatory” spending and Hagel’s cuts in the Defense budget), that interest payment increase comes to $65 billion.
Our debt debacle, with its required interest payments, will take considerably longer than two years to redress, and that puts a premium on getting started now on the necessary spending cuts. This is made even more difficult, though, by the enormous size of our debt coupled with the national survival need to preserve our military capacity.
But the Democrats won’t allow entitlement reform in any direction except expansion—and more spending. And they refuse to take our debt seriously, demanding ever more (non-defense) spending, and not just for the “mandatory” stuff. Go figure.