The steady rise of cumulative federal debt relative to the U.S. economy over the past half-century is a consequence of many decisions, some made by Congress and others by a succession of presidents from both parties. Tax cuts, benefit expansions, responses to financial crises, pandemics, natural disasters, and wars have all been factors. However, acknowledging these many varied contributors to the problem should not prevent the identification of Medicare and Medicaid as particularly important factors. Without their growth, the country's fiscal challenge would be more manageable than it is, both today and in the future.
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