The U.S. Federal Budget

The U.S. Federal Budget

July 10, 2012

The United States is facing significant and fundamental budgetary challenges. The federal government’s budget deficit for fiscal year 2011 was $1.3 trillion; at 8.7% of gross domestic product (GDP), that deficit was the third-largest shortfall in the past 40 years. (GDP is the sum of all income earned in the domestic production of goods and […]