Topics
Explainers, by topic.
Every topic hub collects our explainers, data, and tools on one subject — a living reference that grows as we publish.
Topic
The Deficit
The annual gap between what the government spends and collects. FY2026: $1.97 trillion.
Topic
The National Debt
The running total the federal government owes. Now $40.10 trillion — about $117,000 per resident.
Topic
Federal Spending
Where the $6.81 trillion goes — from Social Security’s $1.53 trillion to interest’s $1.02 trillion.
Topic
Revenue
Where the $4.85 trillion comes from — income taxes, payroll taxes, tariffs, and more.
Topic
The Budget Process
How the federal budget is actually made — mandatory vs. discretionary spending, the fiscal year, and the Treasury reports we cite. Explainer coming soon.