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Federal Spending on the Elderly and Children
Dan L. Crippen (ed)
In 2000 an analysis of fed. spending on people over age 64 and under 18 concluded: In FY2000, the fed. gov’t. will spend over 1/3 of its budget -- $615 billion -- on transfer payments and services for people age 65 or older. Fed. spending on children in 2000 will total $148 billion. In 10 years, spending on the elderly and children combined will account for more than half of total gov’t. spending, with the elderly’s share making up roughly 4/5 of that amount. Entitlement programs account for the overwhelming share of spending on the elderly but a much smaller portion of spending on children. Fed. spending on the avg. person age 65 or older will rise from $17,700 in 2000 to $21,100 in 2010; and per child will increase from $2,100 in 2000 to $2,500 in 2010. Ill.
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