This week’s charts use data from the Congressional Budget Office’s (CBO) recently released update to its Budget and Economic Outlook to show the trends and components of projected debt and deficit increases. The charts show that debt and deficits will continue to grow over the coming decade, although enacting certain policy changes—such as freezing most discretionary spending at current levels or extending expiring tax cuts—could over the next decade shrink deficits by $615 billion or add $897 billion to baseline deficit projections, respectively.
These charts show that the federal government will not be able to provide the same level of services without significant reforms to entitlement programs that drive the bulk of spending and compound future interest payments on the federal debt.
This week's charts use new data from the recently released 2014 Old-Age and Survivors Insurance and Federal Disability Insurance (OASDI) Trustees Report to update a previous Mercatus Center chart series presenting projected cash flows and worker-to-beneficiary ratios for Social Security programs.
This chart series includes updated versions of previous Mercatus Center charts presenting the long-term projections for Medicare programs. The first chart compares total Medicare cost projections under a current law assumption with two alternative projections under more realistic baseline assumptions, measured as a percentage of the economy.
This chart updates a previous Mercatus Center chart comparing the projected enrollment and costs for Medicare programs in 1975, 2013, and 2040. The number of Medicare enrollees more than doubled to 51.9 million between 1974 and 2014 and the real cost per enrollee quintupled. Based on these projections, by 2040 Medicare will cover about 89.2 million people, at roughly three times today’s cost per beneficiary.
This week’s maps use data from the Export-Import Bank and the US Census Bureau to display the effect of Ex-Im Bank financing on each state. The maps show that Washington state, home of Boeing, garners the bulk of the benefits in terms of both Ex-Im Bank disbursements and as a percentage of total state export value, even though taxpayers across the nation are equally exposed to liability.
These charts show that small business establishments and employees that benefit from Ex-Im Bank assistance constitute a minuscule portion of all small businesses and related employment in the nation. Supporters of the Ex-Im Bank have little reason to claim that it meaningfully benefits American small business firms and their employees.
The Export-Import Bank of the United States claims to boost US exports by providing artificially cheap financing to overseas buyers of certain US products. The Ex-Im Bank and its supporters rarely discuss which countries’ firms actually receive US export credit subsidies.
This week’s charts show that if we were serious about improving the competitiveness of American producers, we should be looking at policies that help all producers rather than to the Export-Import Bank, which benefits mostly a few winners.
This week’s charts use data from the Annual Reports of the Export-Import Bank from FY 2009 to FY 2013, the International Trade Administration, and the US Census Bureau. The charts display the total value of US exports and total number of export-related jobs from 2009 to 2013, along with the proportions of exports and export-related jobs the Bank claims to have influenced in its official reports.