Federal spending for international affairs, which supports American diplomacy and development aid, is a small portion of the U.S. budget.
The treatment of carried interest continues to be one of the most controversial elements of the U.S. tax code.
As part of a potential deal to raise the debt ceiling, policymakers are considering rescinding remaining funding for COVID-19 relief.
SNAP is the largest federal program aimed at combating hunger and food insecurity among low-income Americans.
The Federal Reserve plays an important role in stabilizing the country’s economy.
Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.
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.
At the end of 2022, the nation’s gross debt had reached $31.4 trillion dollars.
Let’s look at the trends in discretionary spending, and how effective they are in reducing the debt.