Financing the Federal Government: How Government Takes & Spends Your Money

Financing the Federal Government: How Government Takes & Spends Your Money

In January 2024, The University of Chicago Harris School of Public Policy and the Associated Press-NORC Center for Public Affairs Research published a survey that found two-thirds of Americans believed their taxes were too high and  they lacked confidence in how the federal government spends their tax dollars.[1] These sentiments are not unfounded. This Explainer will cover where the government takes revenue from, how it spends those dollars, ho…