Us Budget 2024 Newsletter. The federal budget deficit was $857 billion in the first seven months of fiscal year 2024, cbo estimates—$68 billion less than the deficit recorded during the same period last fiscal year. Federal government spending pays for everything from social security and medicare to military equipment, highway maintenance, building construction, research, and education.

How much is the national debt and how much does the federal government spend? The union minister of finance and corporate affairs smt.