Staying Fit
Federal programs that guarantee payments to individuals who meet certain criteria set by law. The Social Security Act, for example, guarantees any American age 62 or older benefits according to a formula fixed by law.
Federal entitlement programs — with Social Security, Medicare and Medicaid at the top of the list — account for more than half of all government spending.
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See also: Mandatory spending
See all terms in the National Debt Glossary
Frequently Asked Questions: National Debt
- How did the national debt get to be so big?
- What's the difference between the debt and the deficit?
- Why can't the government just print more money to get out of debt?
- How much U.S. debt is owned by foreign countries?
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