The federal budget process begins nearly a year before funds are spent

The Budget and Accounting Act of 1921 created the modern federal budget

Before 1921, federal funding was fragmented and ad hoc. This article traces how inefficiency and postwar pressures led Congress to pass the Budget and Accounting Act, creating a standardized, centralized federal budgeting process.

The federal deficit is the gap between what the US spends and what it collects

This US Treasury page explains how the federal deficit occurs when annual spending exceeds revenue, shows the current fiscal-year shortfall, and tracks how deficits rise and fall with economic conditions and policy choices.

The federal government offers billions in student aid each year in the form of scholarships, grants, loans, and more

The very first—and necessary—step is to fill out a federal application to get your information into the system. Known as the Free Application for Federal Student Aid, or FAFSA, this key form must be completed by Oct. 1 for the following academic year.

Government shutdowns, 101

Roughly a quarter of the US federal government's spending must be approved annually through a set of 12 appropriations bills in Congress. When they aren't, a government shutdown ensues, where federal agencies are legally barred from spending any further money on nonessentials. This explainer covers the basics of government shutdowns and their impact on the broader culture.

Visualize government spending with USAFacts

This resource turns complex federal budget data into clear charts and summaries, letting users explore how much the government spends; where the money goes; and how revenue, deficits, and debt change over time.

The House of Representatives controls the $7T federal budget

The House holds the exclusive "power of the purse" to initiate revenue bills, a provision in the US Constitution designed to divide power with the Senate and give states with larger populations greater influence over federal budgeting.

The presidential election process continues for weeks after Election Day

Even after a winner is projected, the election is not complete. Between Election Day and Inauguration Day, electors formally cast votes and Congress meets in a joint session to certify the results, following a constitutionally defined timeline.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

HSA spending spikes early in the year, while FSA spending peaks in December

Because health savings accounts are designed to alleviate high upfront costs for people with high deductible health plans, the majority of HSA spending happens early in the year. However, around 10% of flexible spending account funds are used in December—right before the use it or lose it deadline.

New Deal programs still shape mandatory federal spending today

Many of the largest items in today's federal budget—especially mandatory programs—trace their origins to Franklin D. Roosevelt's New Deal. This podcast explores how those policies reshaped federal spending and government responsibility.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

The Department of Justice spent $44B in 2024

In fiscal year 2024, the Department of Justice spent approximately $44B—making it the 14th-largest federal agency by total spending. Its budget funds law enforcement activities, prosecutions, prisons, and grants to state and local justice initiatives.

Dive into the fascinating journey of a Federal Reserve note

Ever wondered how long an individual dollar bill lasts? After cash is designed and produced, money circulates in the economy, with $100 bills staying in use for the longest on average—roughly 15 years—and the $10 lasting just less than five.

The Federal Emergency Management Agency leads the US response to disasters

Established in 1979, FEMA coordinates the government's response to hurricanes, wildfires, floods, and other disasters, providing funding, logistical support, and recovery assistance. In FY 2024, the agency spent $35.1B, nearly 40% of the Department of Homeland Security's total budget.

Four popular budgeting strategies

While budgeting is an individualized process, there are a few tried-and-true budgeting methods people interested in saving money or paying down debt tend to use. These methods include the envelope method—where people budget for things like rent, savings, and food by putting cash in various physical envelopes—the 50/20/30 method, and others. Read about four popular budgeting strategies in this article.

Explore the countries with a federal system—and see how they work

This resource from the Forum of Federations catalogs the world's federal countries. It provides background information on each, including the emergence of federalism, the division of power, and the practical interaction between national and regional governments.

Inside a congressional office, the scheduler is more powerful than you think

A former congressional scheduler explains that a member's time is the scarcest resource in any Hill office, and controlling the calendar means understanding every competing claim on it, from the legislative team to the member's family. The interview demystifies how a typical House office actually functions, from staff hierarchies to outside resources like the Congressional Research Service.

How the brain processes a calendar year

When most of us picture a calendar year, we have a foggy image in our minds of the months, in rough, calendar-like grids. But for some folks, that picture is a whole lot more clear. Around 1 percent of the population has a strange ability known as "calendar synaesthesia," which means they're able to visualize in crisp detail an elaborate calendar of the months of the year. Learn how it works here.

The two-day marathon meetings of the Federal Open Market Committee follow a logical process of information sharing

In a stately room in the Eccles Building in Washington, DC, the 17 participants of the FOMC and their aides report on economic conditions and decide monetary policy.

Go behind the scenes of the 2012 State of the Union Address

This video showcases the speechwriting process behind Barack Obama's 2012 State of the Union, highlighting how writers shaped themes, refined language, and coordinated closely with the president in the lead-up to the address.

The Supreme Court term runs from October to June

The Supreme Court of the United States begins each term on the first Monday in October, alternating two-week sittings and recesses, hearing arguments mainly on Mondays through Wednesdays, and deciding which of thousands of petitions will receive full review.

Housing 'starts'— new constructions—signal the health and future of real estate

The Federal Reserve Economic Data, or FRED, tracks monthly “housing starts,” the number of new residential construction projects being built. Some argue this data can serve as an economic barometer.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Local governments borrow money for long-term projects by issuing municipal bonds

When a city needs to build a school, a road, or a water treatment plant, it usually issues a municipal bond—borrowing money from investors to be paid back over time. The market for these bonds now exceeds $4T.

The first year of retirement sets the financial tone for later life

The "first year of retirement" rule says the 12 months after you retire from your career and leave the workforce can set the tone for the rest of your financial life—so it's important to approach it mindfully.

The Bill of Rights was shaped by hundreds of drafts

This interactive resource from the National Constitution Center traces the complex drafting process behind the Bill of Rights, showing how state proposals and revisions evolved into the first 10 amendments.

Social Security funding is mandated by law, not budgeted each year by Congress

Unless Congress acts before the Social Security trust fund becomes depleted in 2034, its current revenues would cover 81% of Social Security benefits. However, that share would decline to 72% by 2099.

The IRS already has much of the data it asks Americans to report when filing their taxes

Americans spend more than 7.9 billion hours per year doing their taxes: It's notoriously time-consuming, requiring forms, deductions, and often third-party help. But here's the twist: The IRS already has much of the data it asks you to report. Americans still have to do the work themselves partly due to big tax prep companies that lobby to keep the status quo.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Researchers believe the brain consolidates memories, processes emotions, and plans for the future during dream states

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Experimental hantavirus vaccines and therapies, still under development, have long been funded by the US military.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

See how fireworks are made and learn how metals like magnesium and copper are responsible for different colors.

The US first hosted the World Cup in 1994, a tournament that lives in soccer infamy for its poor planning and the murder of Colombian player Andres Escobar, who'd accidentally scored on his own net.

Explore the known asteroids, comets, and spacecraft involved in asteroid studies within our solar system with 'Eyes on Asteroids,' a 3D visualization from NASA.

Coral polyps reproduce via broadcast spawning, where entire reefs simultaneously release reproductive cells for about one hour, once a year.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

'Grand Canyon of the Yellowstone,' a work by American painter Thomas Moran, inspired Congress to establish Yellowstone National Park.

While El Niño moves warm Pacific Ocean waters east along the equator, La Niña moves them west, shifting where rainfall will become more common for months.