In 2023, US government expenditures on social protection were below the 2024 forecasted figure of $1.719 trillion USD PPP. The forecast from 2024 to 2028 shows a consistent year-on-year increase, with expenditures expected to grow from $1.719 trillion in 2024 to $1.8045 trillion in 2028. This equates to approximately 1.28% growth per year. The compound annual growth rate (CAGR) over this five-year period is roughly 1.30%, indicating moderate and steady expansion in social protection spending.
Future trends to watch for include potential policy changes impacting social protection budgets, demographic shifts such as aging populations, and economic fluctuations that could affect funding. Additionally, social protection needs might evolve, impacting how resources are allocated, necessitating adaptive strategies in response to emerging social issues.
