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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.
Federal Spending in the federal budget can be divided into three categories: mandatory, discretionary, and interest. Learn how these categories have changed over time.
Many factors contribute to the long-term outlook for the U.S. economy and budget, but there are two major drivers of spending: demographics and rising healthcare costs.
Following the pattern of previous years, this budget largely relies on very optimistic projections of economic growth and unlikely budget cuts to reduce the deficit.
The United States spent $725 billion on national defense during fiscal year (FY) 2020 according to the Office of Management and Budget, which amounts to 11 percent of federal spending.
Although the debt-to-GDP ratio would decline under the president’s budget, the budget misses an opportunity to address the structural causes of our debt, and relies instead on overly optimistic economic assumptions and reductions in spending that are unlikely to come to pass.
Here are the top ten spending categories for the federal budget.
The two proposals present distinct visions of the role of the federal government in our economy.
The president and Congress must reach a compromise that reconciles their disagreements before September 30, or else they will risk a partial government shutdown.