Fiscal Policy

How the US government spends more money than it collects

Each year's federal budget must be approved by Congress and signed by the President. Despite agreeing on a budget, the federal government will likely not raise enough tax revenue to match its spending projections.

Check out @FiscalService Fiscal Data’s new federal spending page! #FederalSpending

The legislation will fund the government through next September.

The treasury secretary tells Norah O’Donnell how she thinks the economy will fare in the coming year and what her department is doing to end the war in Ukraine.

But the road ahead looks more troubling for the nation's fiscal situation.

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President Joe Biden on Saturday called embattled British Prime Minister Liz Truss' abandoned tax cut plan a "mistake."

Even though they worry government spending is a main cause of inflation, Americans want the stimulus checks that over 15 states have adopted.

Supporters of student debt cancelation have argued some estimates overstate the policy’s price-tag.

Federal income tax rate brackets, and many other federal tax parameters, are indexed for inflation.

Economists accuse bondholders of standing to make huge profits at the expense of the crisis-hit country

In this infographic, we examine new data that ranks the top 25 countries by their default risk.

Documenting, preserving, and commemorating FDR's New Deal. Discover the New Deal on our interactive map, view photos and read New Deal stories.

There is a clear correlation between trust in government and trust in public institutions, but a few countries buck the trend.

$49.2 billion of it can be spent for literally any purpose.

It wasn’t long ago that the U.S. economy needed a shot in the arm. Millions of Americans had lost their jobs as the country shut itself down to slow the spread …

Key holdout Senator Joe Manchin said Tuesday he discussed a tax increase and deficit reduction bill with Senate Majority Leader Chuck Schumer as a way to reduce soaring inflation.

Lawmakers in both Maryland and Georgia have officially suspended the state gas tax in an effort to help drivers over the coming weeks. Politicians have chosen a politically popular policy rather than addressing a more serious underlying issue.

Which tax expenditures, or tax breaks, will lead to the biggest government revenue losses over the next ten years?

Global debt reached $226T by the end of 2020 – the biggest one-year jump since WWII. This graphic compares the debt-to-GDP ratio of various countries.

Michigan Gov. Gretchen Whitmer is seeking to define how billions of dollars in the state surplus as part of her Wednesday State of the State address.

Since adult-use retailers opened in Massachusetts in November 2018, gross total sales have now reached $2.54 billion.

According to the WEF, the retirement savings gap is growing at $28 billion every 24 hours - and it could be the 'financial equivalent of climate change'.

Congressional Democrats voted to raise the debt ceiling, avoiding the risk of default with only hours to spare.

It turns out that big surpluses have been almost universal across states.