Congress passed a short-term spending bill to continue current federal funding levels before leaving for the Thanksgiving break but federal spending is up $64 billion, or 16%, compared to this time last fiscal year as interest payments on the national debt rise.
According the latest T reasury Department data , the federal government has spent close to $470 billion so far into fiscal year 2024.
Debt service, or paying interest on the national debt accounted for 16% of the amount of taxpayer funds spent this year on federal government operations.The top four spending categories are Social Security, 25%, followed by national […]
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