No, Social Security and Medicare aren’t crowding out R&D and education
A new paper from Jessica Perez, Gabe Horwitz, and David Kendall of Third Way alleges that increased spending in Social Security, Medicare, and Medicaid is crowding out spending on investments like education, research and development, and infrastructure. The evidence presented amounts to the fact that investment spending as a percentage of GDP has decreased over the past 50 years, while…