Introduction In part one of this defense primer, readers learned that the defense budget is a significant portion of the federal budget (about 15% in 2019), approximately 96% of which is Department of Defense spending (the Pentagon’s…
Most Americans know that the defense budget constitutes a substantial portion of federal spending, but there remains plenty of confusion as to just how much. While a quick search can answer that for you (spoiler alert: $714 billion in…
Key Takeaways Several times each year, the Congressional Budget Office publishes a baseline – a policy-neutral snapshot of the federal budget meant to inform lawmakers about future trends, such as the sustained imbalance between revenues and spending. Often, the…
The federal budget is more than just numbers on a spreadsheet; it reflects our priorities as a nation. The choices we make today -- or fail to…
The United States tax system is inefficient, overly complex and does not raise enough revenue to keep pace with federal spending. The gap between tax revenue and federal spending is projected to get worse in the coming years due to…
The United States health care system is larger than the gross domestic product of all but five other nations. Over the past several decades, health care costs have outpaced economic growth, inflation and personal incomes. One out of every six…
The official federal budget process was established in 1974 by the Congressional Budget and Impoundment Control Act. The budget process begins in February, when the president is supposed to submit his plan to Congress after discussions with federal department…
Federal spending falls into two basic categories: mandatory spending and discretionary spending. Programs such as Social Security and Medicare, for which benefits are awarded based on pre-determined formulas, are considered mandatory spending because once they are enacted they do not…
Social Security is the largest program in the federal budget. It provides monthly income to over 60 million Americans -- most of whom depend on it as their largest source of retirement income. That spending is financed by a tax…