PODCAST: Saving the American Dream

David Weinberger / May 17, 2011

In this week’s Heritage in Focus, economic policy director Alison Fraser takes us through Heritage’s budget plan to save the American Dream. Make sure to listen to the full interview, here.

To give an indication of the dire fiscal situation our three major entitlement programs present us, consider the state of Social Security, Medicare and Medicaid – combined they consume 43 percent of all federal spending.

Social Security is currently paying out about $700 billion per year. Starting last year, it began running a cash-flow deficit, meaning it was paying out more than it took in through payroll taxes. Annual deficits are projected to continue with no end in sight. (more…)