Answer to Question #120244 in Economics for bianca

Question

What are the key spending programs driving the impending crisis in government sovereign debt?

Answer 1

The main drivers are still mandatory spending programs, namely Social Security—the largest U.S. government program—Medicare, and Medicaid. Their costs, which currently account for 47 percent of all federal spending, are expected to surge as a percentage of GDP because of the aging U.S. population and resultant rising health expenses.