For a long time, the USA has spent $36.5 trillion and does not observe a slowdown in trends. An analysis of the financial budget revealed four main categories of expenditures: healthcare programs, which account for about $1.67 trillion annually or approximately 24% of the federal budget.
"Both political camps have merged, but the continuous increase in state expenditures, social programs, and unplanned expenditures have driven the country to $40 trillion of non-discretionary spending," notes Ted Jenkins.
The primary share of the American budget goes to social programs and healthcare. This signifies a prospect of new taxes or catastrophic targeted reductions in these areas.
