Federal Budget

The $2 bill isn’t rare; it’s just hiding. First printed in 1862, stopped in 1966, and revived in 1976, there are still 1.6 billion in circulation. People just don’t spend them.

Tracking began in 1939, when the federal workforce consisted of about 1 million people. The total peaked in 1990 at 3.4 million, and hit a recent low in 2014 at 2.7 million.

If Congress cannot pass a formal budget, they must rely on what are called “continuing resolutions” to avoid a government shutdown. This helpful guide from the Bipartisan Policy Center outlines how these continuing resolutions are created, implemented, and their impact on the government.

About 50 percent of federal revenue comes from individual income taxes, 7 percent from corporate income taxes, and another 36 percent from payroll taxes that fund social insurance programs. See breakdown in charts here.

The EPA spent $13.7B in 2024, making it 23rd among federal agencies in total expenditures. Of that money, more than half was distributed to state environmental agencies for sustainability and environmental protection programs.

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.

The government borrows money to cover this deficit, which increases the national debt. It’s the fourth most expensive spending category in the US budget.

What is the current national debt in the United States? What exactly is the debt and what problems can it cause for the nation? This page from the US Treasury Department answers these questions and provides insight into the trends relating to the federal 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.

The debt ceiling periodically takes center stage as Congress debates whether to increase or suspend this self-imposed limit on its borrowing authority. Learn the basics on this crucial feature of US fiscal policy with this Q&A.