by David Wessel (Get Book)Anyone who's curious to know how the U.S. government managed to spend $3.6 trillion dollars in 2011 may be interested to learn about the inner workings of the federal budget and where the money goes. Economics expert Wessel breaks it down in layperson's terms. With the budget deficit being higher in 2011 than it has ever been, he explains the ever-widening gaps between government revenue and spending from the Great Depression until now, highlighting major historical milestones in budgetary strategy and the current situation. Despite four years in which the government actually had budget surpluses enough to pay off the federal debt, economic woes, costly wars, and other problems drove the budget back into the red, where it remains up to the present. The book explains the factors causing health-care spending to rise faster than the other areas of the federal budget, which forecasts an alarming trend for the future. Controversy over whether tax increases or spending cuts should be made to defense, Medicare, or Social Security spending provides fuel for great debate. --Booklist
