The Core Reality The federal budget is not spread evenly across many programs. It is dominated by four major categories: Social Security, healthcare, interest on the national debt, and national defense. Together, these make up roughly ~75% of total federal spending. The Big Four at a Glance (~$5.25 Trillion Total)
Key Terms to Know Deficit: The amount the federal government spends in a single year beyond what it collects in revenue. For example, if the government brings in $5 trillion and spends $6 trillion, the deficit is $1 trillion for that year. The current annual deficit is approximately $1.78 trillion.
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