Federal Budget

The federal budget is a detailed financial plan created by the government for a fiscal year, outlining expected revenues and expenditures. It includes funding for various programs and services, such as healthcare, education, defense, and infrastructure. Revenues primarily come from taxes. The budget aims to balance spending with income, though sometimes the government may run a deficit, borrowing money to cover the gap. Ultimately, the budget reflects national priorities and policy decisions, influencing both the economy and citizens' daily lives. It is approved by Congress and is revised annually.