Admin, I do not understand how deficits work and how the federal budget works. Is there a website that helps people understand the U.S. federal budget.
The Federal budget works similarly to normal business budgets. The biggest differences besides size are that the government can be insolvent without bankruptcy or default for extremely long periods of time, and that revenue is forcefully taken from others through taxation or printing money.
I do not know of a resource to learn about the intricacies of the federal budget from a broad perspective other than the government's website, which allows you to drill into mostly vague information:
http://www.gpoaccess.gov/usbudget/
Especially, the latest June report about $96 billion for the June deficit. I would like to understand this.
Where did you see this figure? I have not been able to locate it.
Also, thank you for answering my questions.
No problem. Proactive curiosity and education around economic topics, such as those you mention, is key to combating our massive problems. Also, others are welcome to jump in to answer questions, ask other questions, debate, or add information.
