Deficit, Entitlement and Tax-Policy Pressure

The proposed tax-and-spending package could add roughly $3.4 trillion to deficits and reduce revenue by about $4.5 trillion, while Medicaid and SNAP reductions are weighed against higher defense and Homeland Security spending. Discussion of changing the Social Security payroll-tax ceiling and a proposed $5,000 election dividend highlight unresolved debt, inflation, entitlement, and congressional-authority questions.