A slick interactive that shows what's actually being paid for within the different areas of our federal budget.

Students might already know that our tax dollars go toward things like social security, health care, and education. But what does that actually mean? This interactive from the Congressional Budget Office not only shows us the categories our tax dollars go toward, but if you mouse over them it also gives a short description about what specific things are being paid for. Additionally, you can toggle between viewing the amounts as dollar amounts or a percentage of the federal budget to give a better idea of what this all looks like. And if that's not enough, there's more details on how the government brings in money and a visualization of the US government's spending and debt levels--all in one easy-to-digest interactive infographic!

Questions:

• What are some potential consequences of increasing or decreasing spending across different categories? Consider health care, defense, education, etc.
• Social security is the largest spending outlay among any single category. Do you think it's important to have a program like social security to ensure older citizens have an income? Explain why or why not.
• Discuss the pros and cons of increasing funding for K-12 education versus higher education (technical colleges, universities, etc.).

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Want more practice analyzing data? Check out DATA CRUNCH: Where Do Our Tax Dollars Go?

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Looking for more interactive resources? Be sure to check out the NGPF Interactive Library. 

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.