…USA Entitlements = Medicare + Medicaid Driving Most Spending Growth… USA Entitlements by Category 1987 Entitlements* = 2017 Entitlements* = $349B / 35% of Expenses $2.2T / 56% of Expenses 30% s 24% nt me 20% 20% itle nt E 15% ndatory a 9% M 10% 8% 7% USA 4% 3% 0% Social Security Medicare Medicaid Income Security Medicare Medicaid 1987 2017 Source: Congressional Budget Office, White House Office of Management and Budget. *1987 Income Security programs defined as Food Stamps + SSI + Family Support + Child Nutrition + Earned Income Tax Credit + Other. 2017 Income 287 Security defined as Earned Income Tax Credit + SNAP + SSI + Unemployment + Family Support + Child Nutrition. In 2017, there was an additional ~$200MM in mandatory spending, including Veterans’ pensions & ~$73MM in 1987.