us federal budget

The biggest thing to notice about this proposal is what it leaves out: 1) It promises huge spending cuts in the discretionary part of the budget (from 12.5% of GDP to 3.75%), but doesn't say what those cuts will be. 2) It claims that its huge tax cuts for the rich will be paid for by closing...

Is tax the only income the US government has? I came across an image on Facebook today, and this is the text: "The budget explained in simple English I love it when complex things are simplified so that we can all understand. United States Tax revenue: $2,170,000,000,000 Fed budget...

Remember the surplus? Back in 2001, the last budget of the Clinton administration? Here's what happened to it: To blame it all on "out of control spending" when tax revenue went from 19.5% of GDP to 14.8% of GDP is simply not true. In fact, the non-defense discretionary budget, which is the...

And what really happens if they don't raise it? Does that mean the US would default, or something less drastic? George Will on the debt ceiling: jf5eg_SAfno I think they would choose to first not pay federal employees and the military rather than not pay bondholders. In fact, I vaguely...

How big is the U.S. Dept of Defense's budget ?

This is encouraging The Pentagon itself is advising the incoming president to cut the various white elephants. Who woulda thunk it?