(CNSNews.com) - The Department of Health and Human Services will become the nation's first-ever $1-trillion-per-year Cabinet department in 2014, which is also the first year President Barack Obama's health-care law is scheduled to be fully implemented by that department, according to the budget projections President Obama released yesterday.
Medicare is the single most costly program in
This year, according to the Obama budget,
In 1965, according to the historical tables published yesterday with President Obama’s budget, the entire federal government spent $118.228 billion. Using the Bureau of Labor Statistics inflation calculator, that adjusts to $822.6 billion in 2010 dollars—or about $87 billion less than
Medicare spending will rise from $488.4 billion in fiscal 2011 (the current year) to $557 billion in fiscal 2014, when President Obama’s health-care law would be in full force, according to budget tables published with the president's budget. Medicaid will rise from $276.2 billion this year to $352.1 billion in 2014.