On August 7, 2024 the national debt reached $35,094,756,345,920.31 ($35 trillion). As the graph shows, it is now on a level not seen since the end of World War II. However, in 1940, just before the U.S. entered the war, the debt stood at about 45% of GDP. In contrast, … Continue reading
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Historical Defense Budgets
Note: On March 11, 2024, the Biden-Harris Administration submitted to Congress a proposed Fiscal Year (FY) 2025 budget request of $849.8 billion for the Department of Defense (DoD), consistent with the caps approved by Congress under the Financial Responsibility Act (FRA) of 2023. On August 1, 2024 the Senate Appropriations Committee … Continue reading