Budget Basics: How Does Social Security Work?
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
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Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
https://www.pgpf.org/budget-basics/how-does-social-security-work
Tax expenditures are costly for the federal government but they can be effective vehicles for lawmakers to achieve policy goals.
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.
https://www.pgpf.org/budget-basics/what-is-the-earned-income-tax-credit
Significant damage was done to America’s fiscal outlook over the past year.
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.
https://www.pgpf.org/budget-basics/budget-explainer-national-defense
“Today’s new survey shows that fiscal concerns are top of mind in this election, and they want leaders who are committed to solutions,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/04/fci-press-release
For 2023, the Congressional Budget Office (CBO) estimated in May that the federal budget deficit will total $1.5 trillion.
The growing cost of prescription drugs presents a significant challenge to the quality and affordability of healthcare in the United States.
According to CBO, provisions in the Fiscal Responsibility Act of 2023 will result in a $1.5 trillion decrease to the deficit over the next 10 years.
https://www.pgpf.org/blog/2023/06/how-much-will-the-debt-ceiling-deal-reduce-deficits
Today, the nonpartisan Congressional Budget Office (CBO) released its Long-Term Budget Outlook, which offers a look at the nation’s fiscal health through 2052.