Though revenues from the U.S. Government rose 12 percent over fiscal 2006, to $2.4 trillion, the future costs for social insurance programs such as Medicare and Social Security will be trillions more than initially projected.
According to a report released jointly by the Treasury and the Office of Management and Budget, Social Security and Medicare will see a $44.1 trillion shortfall over the next 75 years — a deficit more than $4 trillion larger than that projected in 2005.
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