Report: U.S. spends half its budget on elderly

Share this content:

Programs and services that target senior citizens accounted for nearly half of the federal government's expenditures in 2005, according to a new report from the U.S. Census Bureau.

Social Security, Medicare and Medicaid spending comprised almost $1.1 trillion of the $2.3 trillion budget in 2005 - an 8% increase over 2004. The Consolidated Federal Funds Report for Fiscal Year 2005 presents data on most domestic spending by the federal government for state and county areas of the United States, including the District of Columbia and U.S. outlying areas..

Federal spending per person was highest in Alaska, Virginia, Maryland, New Mexico and North Dakota, according to the report.

Next Article in News