Government & Policy
Tracking the federal budget, taxation, and policy shifts.
The federal government is the largest economic entity in the world. Its fiscal policy dictates global interest rates and domestic inflation.
The National Debt
Surpassing $34 trillion in 2024, the national debt is increasingly driven by mandatory spending programs and the rising cost of servicing interest. As interest rates rise, the cost of carrying this debt crowds out discretionary spending.
| Revenue Source (2023) | Amount | % of Total |
|---|---|---|
| Individual Income Taxes | $2.18 Trillion | 49% |
| Payroll Taxes | $1.61 Trillion | 36% |
| Corporate Income Taxes | $420 Billion | 9% |