Fderal Government spending in one handy chart via USA Facts

At USAFacts, we believe that American taxpayers — the shareholders responsible for providing most government funding — are entitled to information on how the federal government and its budget operate. Every year, the federal government brings in and spends trillions of dollars.  

 

We've spent weeks combing through spreadsheets to help you track where that money goes. 

This new, searchable visualization displays government revenue from taxes and other sources, totaling $4.9 trillion for fiscal year 2024 and the $6.8 trillion the government spent.  

 

This chart even allows you to see spending data on specific federal agencies and programs. For example, type "Department of Labor" into the search bar at the top right of the visualization, and you'll see the department spent $66.2 billion in FY 2024. 

This new, searchable visualization displays government revenue from taxes and other sources

Shared from -> https://usafacts.org/government-spending/

Why do prices feel high if inflation is down?

Inflation is down, but three in four Americans are still concerned about coming price increases.

Published January 28, 2025 by the USAFacts team

Inflation has eased since a 2022 peak, but an estimated three-quarters of American adults are still concerned about coming price increases. While the inflation rate has dropped to 2.9% as of December 2024, Americans are feeling the lasting impact of a historic spike.

How is inflation trending?

After rising to a 40-year high of 9.1% in June 2022, the inflation rate trended down for much of 2023 and 2024, falling to a low of 2.4% in September 2024 before ticking up over the next few months.

The declining inflation rate means prices have been rising at a more gradual pace, and this can in turn mean less stress on consumers.

Why do prices feel high if inflation is down?

Continue reading the full article online -> 

https://usafacts.org/articles/why-might-prices-feel-high-if-inflation-is-slowing

USAFacts: What are tariffs and how do they work?

• The US collected $77 billion in tariffs in 2024, making up 1.6% of federal revenue. Tariffs haven’t comprised more than 2.0% of total annual revenue since the 1960s. 
• Congress holds constitutional authority over tariffs but has delegated much of it to the president through legislation. Customs and Border Protection enforces tariff collections based on the type of goods, quantity, and country they come from. 

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  USAFacts: What are tariffs and how do they work?

  As of October 2024, the average tariff rate for bringing goods into the US is 3.4%. However, it varies based on the product, cost, quantity, and relationship with the exporting country. 
• The US follows World Trade Organization rules that standardize tariffs across member nations, but 14 free trade agreements and special exceptions allow for lower rates with specific partners. 
• When the US raises tariffs, US companies importing international goods pay those tariffs. This can indirectly raise prices for American consumers.

Continue reading more about tarrifs from USAFacts ->

https://usafacts.org/articles/what-are-tariffs-and-how-do-they-work/

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USA Facts: How much money do people spend in December?

If you can’t tell it’s the winter holiday season from the festive commercials and lights, you might be able to tell by your dwindling bank account balance. Unsurprisingly, retail spending amps up in this final month of the year. Here’s the data to put it into perspective.  

USA Facts:  How much money do people spend in December?

• Americans spent an estimated $586.98 billion on retail in December 2023, or about $1,750 per person. For comparison, people spent an estimated $532.85 billion in November that year.
• February is usually the lowest sales month of the year, with an average spending of $320 billion. Sales tend to increase incrementally towards the end of the year, rising 4.5% from September to October, 4.7% from October to November, and 18.9% from November to December.  
• December spending reached a recent peak in 2021 at $593.34 billion. That was up 9.0% compared to 2020 and 1.1% higher than in 2023.  

For more on this topic visit this page -> https://usafacts.org/articles/how-much-money-do-americans-spend-on-holiday-shopping-2023/?

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USA Facts: What does the Department of Education do?

"The Department of Education (DOE) is a relatively new federal agency – it was founded on May 4, 1980 when legislation split the old Department of Health, Education, and Welfare into two new departments: Education, and Health and Human Services.

The DOE has received 4.0% of all federal funding in 2024, totaling $268.35 billion. That makes it the sixth highest-funded federal agency.

The Education Department has received 4.0% of all federal funding in FY 2024. (see chart)

It’s also the smallest of any cabinet-level department, employing about 4,100 full-time employees in 2023. The next closest was Housing and Urban Development with around 8,100 full-time employees in 2023.

According to the Department of Education, education is primarily a local and state responsibility rather than a federal one. Elementary and secondary education are mostly funded by local governments, while state governments support higher education, per the Census Bureau’s Annual Survey of State and Local Government Finances. The Department of Education's budget makes up 21% of total education spending in the country. "

 

Continue reading "What does the Dept of Education do?" at USA Facts ->  https://usafacts.org/articles/what-does-the-department-of-education-do/?