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The defense share of the federal budget has averaged 21 percent over the past two decades.
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.
The Peter G. Peterson Foundation presents a primer on the federal budget.
The U.S. spent $187 billion on interest payments alone in 2009.
Once we have a plan in place that reduces spending and increases revenues, a strong annual budget process for the government would help us stay on track.
Learn about steps you can take to help cure our fiscal ills.
Policymakers use the federal budget process to establish spending priorities and identify revenue to pay for those activities.
By focusing fiscal policymaking more squarely on the long term and providing better tools to help enforce budget agreements over time, budget process reform could encourage long-term fiscal sustainability.