Infographic: The Facts About U.S. Defense Spending
National security is both a vital priority and a significant part of the federal budget.
https://www.pgpf.org/infographic/infographic-the-facts-about-us-defense-spending
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National security is both a vital priority and a significant part of the federal budget.
https://www.pgpf.org/infographic/infographic-the-facts-about-us-defense-spending
The Congressional Budget Office (CBO) released updated budget and economic projections, which incorporate the effects of higher interest rates, annual appropriations, and other recent legislative and economic developments.
The recent volatility in interest rates show that breaching the debt ceiling could make federal borrowing much more expensive.
“Today’s CBO report is a timely reminder that as lawmakers work to raise the debt ceiling, they should also address the underlying problem of our rapidly growing national debt."
https://www.pgpf.org/press-release/2023/05/peterson-foundation-statement-on-cbo-report
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for May 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-may-2023
The nation’s high and rising levels of debt can affect economic growth and pose a number of risks.
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
https://www.pgpf.org/budget-basics/budget-explainer-payroll-taxes
“Democratic and Republican voters know that this level of fiscal irresponsibility carries a huge economic risk,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/04/fci-press-release
Here’s an overview of inflation, why it matters, and how it’s managed.
https://www.pgpf.org/budget-basics/what-is-inflation-and-why-does-it-matter
The United States spends more on defense than the next 9 countries combined.