What does the federal budget look like?
Another year and another debate on what the federal budget should look like. While it is unlikely that will change anytime soon, I find it helpful to at least understand what our current budget looks like and compare that to where the financing of our current spending comes from.
A couple of observations
Our current deficit is about the size our entire defense spending
The largest bulk of the budget remains entitlements at 52% (Social Security and Medicare/Medicaid)
Current interest payments on outstanding debt are almost as much as all corporate taxes