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Budget Basics Archive
The federal government is slated to borrow about $1.9 trillion this year, and that annual shortfall is projected to grow to $2.9 trillion by 2034.
Federal trust funds bear little resemblance to their private-sector counterparts.
Medicare is an essential health insurance program serving millions of Americans, and a major part of the federal budget and our fiscal outlook.
The Medicare Advantage allows beneficiaries enrolled in both Part A and Part B to receive benefits from private plans.
Public schools for students in kindergarten through 12th grade are financed through a combination of local, state, and federal dollars in proportions that vary across and within states.
Here we take a closer look at excise taxes in the United States and examine how they fit into the federal budget.
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
The U.S. spent $820 billion on national defense during fiscal year (FY) 2023 according to the Office of Management and Budget, which amounted to 13 percent of federal spending.
The child tax credit (CTC) is a measure administered though the tax code that is designed to make raising children more affordable by easing the financial burden faced by families.
Interest costs are on track to become the largest category of spending in the federal budget.