Fitch Warns US Fiscal Pressures Will Rise as Medicare and Social Security Costs Expand
Fitch expects US fiscal pressures to increase as Medicare and Social Security spending grows by nearly 1 percentage point of GDP by 2032, while political gridlock and government shutdowns could become more frequent and longer-lasting.
Fitch said US fiscal pressures will increase as Medicare and Social Security expenditures expand by nearly 1 percentage point of GDP by 2032.
The ratings agency added that gridlock and government shutdowns may become more likely, and possibly more protracted, as spending pressures build.
The comments highlight long-term budget challenges for the United States, with rising entitlement costs adding to fiscal strain over the coming decade.
Source: First Squawk