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If lawmakers do not agree on raising or suspending the debt limit before the extraordinary measures are exhausted, there would be severe consequences for both the federal government and the economy.
Federal trust funds bear little resemblance to their private-sector counterparts.
Broadband is an indispensable tool for aspects of everyday life such as employment, education, and healthcare. As a result, federal policymakers have prioritized funding it.
In light of the growing urgency of the climate crisis, many lawmakers, advocacy groups, and American citizens are calling for the government to undertake policies to more comprehensively address climate change.
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
Here are the top ten spending categories for the federal budget.
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.
Reconciliation provides for expedited consideration of certain legislation; its use is particularly important in the Senate because it limits the time allowed for debate and prevents the inclusion of non-budgetary provisions.