What does the federal budget look like?

May 1, 2017

 

 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

     

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