Budget Basics: National Defense
The defense share of the federal budget has averaged 21 percent over the past two decades.
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The defense share of the federal budget has averaged 21 percent over the past two decades.
In order to balance our budget and reduce the amount of debt the government takes on each year, we must match the level of government revenues with the level of spending.
https://www.pgpf.org/budget-basics/where-the-money-comes-from-revenues-taxes
America faces a growing crisis. Our federal government has accumulated a $13.6 trillion debt over the last few decades, and this debt is expected to grow significantly in coming years.
Making changes to defense, health care and Social Security will help us reduce our debt, and also leave money to fund other critical responsibilities and invest in our future.
https://www.pgpf.org/budget-basics/the-other-20-of-federal-spending
The rapid growth in health care costs is the largest and fastest growing fiscal challenge.
The Peter G. Peterson Foundation presents a primer on the federal budget.
https://www.pgpf.org/budget-basics/the-federal-budget-primer
The U.S. spent $187 billion on interest payments alone in 2009.
While the recession has technically ended, our economy is still suffering and far from completely recovered.
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
https://www.pgpf.org/analysis/census-bureau-report-on-poverty-and-health-insurance-coverage
According to the report, reaching primary balance would require a reduction of $255 billion in the projected deficit in 2015.
https://www.pgpf.org/analysis/cap-shows-what-it-might-take-to-balance-the-budget