amounts to 23 % of the total mandatory spending.Discretionary spending is the part of the budget decided by the Congress through the appropriations process annually. The largest portion of the discretionary spending is dedicated to the pentagon and military programs. Discretionary spending is also used to pay for early childhood education programs, food assistances women, infants and children (WIC), training andoffering employment to the unemployed, scientific research among several others (Taylor,2012).Economic AnalysisIf no changes are made to the current laws, the federal budget is expected to worsen in the next decades, with the debts increasing at an alarming rate. The federal debts and deficits are expected to steadily increase in the next three decades having the largest debt relative to GDP. The debt has grown to the turn of 78 percent of the country’s GDP and it’s majorly held by the
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THE US FEDERAL BUDGET4public (Foster, 2017). This steady increase poses a significant risk to the US economy forcing thepolicy makers to come up with stringent policies to contain it. The deficit is expected to rice from 2.9% of the GDP in the year 2017 to more than 9.8% in the next three decades largely because the spending growth is expected to surpass the revenue growth (Shesgreen, 2018). Spending on the social security, Medicare and interests on the government debts are expected to increase significantly with the aging age continuing to be larger and continued increase in life expectancy.
United States public debt, United States federal budget
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