George H. Blackford, Ph.D.

 Economist at Large

 Email: george(at)


It ain't what you don't know that gets you into trouble.

Itís what you know for sure that just ain't so.
Attributed to Mark Twain (among others)



Economic Papers
Political Essays

Understanding The Federal Budget

Chapter 3: Human Resources and Social Insurance*

Chapter 3: Human Resources and Social Insurance examines the growth of our federal social-insurance system since 1940. The expenditures on the individual programs are plotted from 1940 through 2013, and it is shown how the retirement and medical social-insurance programs dominate our federal social-insurance system. It is also shown that the retirement programs are dominated by Social Security and the medical programs are dominated by Medicare and Medicaid. It is further shown that only the medical portion of the federal social insurance system has increased relative to the economy since the mid 1970s. 

See: Understanding The Federal Budget: (2013) (2014) at or click here for a preview.

*This chapter was formally Chapter 13 in Where Did All The Money Go?