The U.S. budget deficit surged this year, surpassing $1 trillion, and we’re not even halfway through the fiscal year!

While government spending slightly decreased, it still far outpaced revenue, leading to a deficit of over $307 billion for February. We just saw another federal budget battle in Congress. Despite government shutdown threats, a continuing resolution was passed to fund the government until September. It seems our lawmakers just can’t stick to a spending diet!

But why does federal overspending matter?

In this special edition of This Week’s Economy, I offer a Federal Spending 101 lesson outlining key principles to tackle Congress’s bad financial habits. We need urgent spending reform to turn the economy around—and it’s time lawmakers start listening!

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