Summary:
DOGE has dominated the news with its recommended cuts to the federal budget. But most people have no idea how most of the $7 trillion per year is spent or how it’s funded. Tom breaks down federal spending and tax revenues to clarify where the money comes from and where it goes.
Links:
The Budget and Economic Outlook: 2025 to 2035 (CBO)
Total US Government Spending (federal, state, local)
Trump’s cuts could cause (necessary) economic pain (Tom’s Substack)
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