by Karl Denninger
The budget deficit was in fact $1.4 trillion — not the claimed $587 billion (which is bad enough, incidentally.)
Last year the Federal Government spent $1,417 billion dollars out of $3,854 billion, or 37% of every dollar it spent, on Medicare and Medicaid. This was a 9.3% increase over last year’s expenditure of $1,296,731 (million), all-in.
But inside this figure are even-more damning numbers.
Payments to the health care trust funds were up 13.4% (!)