A bill to cut billions in government waste

Published April 18, 2022 12:00am ET



With millions of people filing their federal taxes this week, it’s a good time to check in on the nation’s finances.

Last year, the federal government ran a nearly $2.8 trillion deficit. That pushed publicly held debt to an incomprehensible $24 trillion, or more than $70,000 per person. Washington is projected to spend at least $1 trillion more than the government receives in taxes each year through the end of the decade.

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