Graph of the Day for December 28, 2009

"Weaknesses in the economy and financial markets - and the government's response to them - have contributed to near-term increases in federal deficits, which reached a record level in fiscal year 2009.  While a lot of attention has been given to the recent fiscal deterioration, the federal government faces even larger fiscal challenges that will persist long after the return of financial stability and economic growth... the long-term fiscal outlook remains unsustainable."

Government Accounting Office, October 15, 2009.

Source:  GAO.

Hoven's Index for December 28, 2009

Year Medicare began running cash deficits:  2008.

Year Social Security will begin running cash deficits:  2016.

Year the Medicare trust fund will be exhausted:  2017.

Year the Social Security trust fund will be exhausted:  2037.

Source:  GAO.

Graph of the Day Archive.