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The amount spent by the federal government on interest is large and growing. Net interest will become the third largest "program" in the budget by 2025.
Two of America’s top economists said Monday that while the U.S. faces a complex mix of fiscal and economic challenges, they don’t see an immediate threat of recession.
The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
https://www.pgpf.org/finding-solutions/understanding-the-budget/revenues
Tax breaks totaled over $1.8 trillion in 2023. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare and Medicaid.
https://www.pgpf.org/blog/2023/12/eight-of-the-largest-tax-breaks-explained
The United States healthcare system is the most expensive in the world, and our healthcare costs are projected to keep rising. Despite these high costs, our health outcomes are generally no better than those of our peers, and in some cases are worse.
The Social Security Trustees's 2011 financial report warns that Social Security is in a weakened financial position in the short run and in an unsustainable condition in the long run.
https://www.pgpf.org/analysis/financial-condition-of-social-security
The Peterson Foundation is partnering with POLITICO to bring you the POLITICO Caucus: Economy and the Election events during this election season.
As Congress prepares to reconvene next week, lawmakers prepare for conflicts over the approaching fiscal year end.
https://www.pgpf.org/blog/2016/08/this-month-in-fiscal-news-august-2016
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for October 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-october-2021