Federal Budget

Overview

The US federal budget outlines how the government plans to both raise revenue and spend it in a given fiscal year. The US government, which employs around three million individuals across over 400 federal agencies, utilizes the budget to reflect its priorities and policy goals and to allocate resources to various programs.

While the entire government is involved with the budgeting process, the legislative branch holds the constitutional authority to tax and spend. The budget directly impacts the lives of Americans by setting funding levels for important programs and influencing the nation’s economic growth.

Before 1921, the US federal government had no unified or organized budget (learn more about this chaotic process and how it was eventually reformed).

1440 Findings

Hours of research by our editors, distilled into minutes of clarity.

Visualizing global debt by country
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.
Found via Visual Capitalist Open in new tab
The national debt dilemma 101
Catch up on the history of the national debt and how it's impacting today's partisan and financial debates with this official backgrounder from the Council on Foreign Relations.
Found via Council on Foreign Relations Open in new tab

What happens if the US doesn't pay its debt?
A video created during the debt ceiling debates of 2021 outlining what would happen if the US failed to meet its debt obligations. Its lessons are applicable to today's debates.
Video
What happens if the US doesn't pay its debt?
Found via YouTube Open in new tab
The federal government's guide to the budget process
See how the US federal government’s annual budget is created, from authorization to appropriations.
Found via USAGov Open in new tab
A timeline of the US debt limit
A timeline of notable events in the history of the debt limit from its inception 100 years ago to today.
Found via Bipartisan Policy Center Open in new tab

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The United States is home to more than 33 million businesses, the vast majority of which are small businesses, with millions being created (and others closing shop) every year. These businesses often rely on loans, provide the goods and services that keep the economy flowing, and sometimes even grow large enough to enter public markets or provide private investment opportunities. Explore key topics central to business and finance, from the role of the Federal Reserve to how initial public offerings work, how millions of American students finance higher education, and more.

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Federal Budget

Overview

1440 Findings

Visualizing global debt by country

The national debt dilemma 101

What happens if the US doesn't pay its debt?

What happens if the US doesn't pay its debt?

The federal government's guide to the budget process

A timeline of the US debt limit

Explore Business & Finance

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