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Budget content
Continuing Elimination of Wasteful Spending at the...
The Department of Defense is intensifying efforts to eliminate wasteful spending by terminating contracts for IT consulting and administrative services that can be handled internally. Secretary of Defense Pete Hegseth…
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Economy Slowed in 4Q: 2024 Despite Strong Consumer...
Despite resilient consumer spending and record-high household net worth, the U.S. economy showed signs of cooling in the final quarter of 2024. Real GDP growth slowed to 2.3%, down from…
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Executive Order 14222: Implementing the...
In an effort to rein in government spending and boost transparency, this Executive Order launches a sweeping cost-efficiency initiative across federal agencies. Agencies must justify spending on contracts, grants, and…
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The Long-Term Budget Outlook: 2025 to 2055
The federal debt is on track to reach unprecedented heights—156% of GDP by 2055—driven by persistent deficits, rising interest costs, and the weight of an aging population. Spending for Medicare…
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Gross Domestic Product, 4th Quarter of Year 2024
The U.S. economy grew at an annual rate of 2.3% in the fourth quarter of 2024, a slowdown from the 3.1% growth in the previous quarter. Consumer and government spending…
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Executive Order 14182: Enforcing the Hyde Amendment
The Hyde Amendment has long restricted the use of federal funds for elective abortions, reflecting a widely supported policy across administrations. This executive order reinforces that stance by revoking previous…
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Executive Order 14210: Implementing the...
The President’s Department of Government Efficiency Workforce Optimization Initiative marks a significant shift in federal workforce management. With a hiring ratio of one new hire for every four departures, the…
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The Nation’s Fiscal Health: Strategy Needed As...
The federal government’s fiscal outlook is on an unsustainable path, with debt levels projected to outpace economic growth each year if current policies remain unchanged. By the end of fiscal…
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The Budget and Economic Outlook: 2025 to 2035
The latest Budget and Economic Outlook for 2025 to 2035 paints a challenging fiscal landscape. With the budget deficit projected to reach $1.9 trillion in 2025 and debt held by…
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Planning, Programming, Budgeting, and Execution...
The Department of Defense is undergoing a critical transformation to modernize its Planning, Programming, Budgeting, and Execution (PPBE) process, a system that has guided defense resource allocation for over 60…
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An Analysis of the President’s 2025 Budget
The President’s 2025 Budget includes significant changes to revenue and spending policies aimed at addressing key national priorities. Proposals like raising the corporate tax rate and expanding child care access…
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Long-Term Implications of the 2025 Future Years...
The 2025 Future Years Defense Program outlines a $850 billion budget for the Department of Defense, with plans to grow to $866 billion by 2029. Key areas of investment include…
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Effects of Automatic Stabilizers on the Federal...
Automatic stabilizers, like unemployment insurance and tax adjustments, naturally respond to economic shifts, helping stabilize spending and income. During downturns, they reduce deficits by supporting households, while in expansions, they…
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Making Ends Meet in 2024
Financial well-being has declined across the board, with more households struggling to pay bills and fewer able to handle income interruptions. A striking 42% of households could cover expenses for…
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CBO’s 2024 Long-Term Projections for Social...
The Congressional Budget Office’s latest report dives deep into Social Security’s future, using both budget and demographic projections as of mid-2024. Projections cover long-term impacts of current legislation on Social…
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