When the severe recession hit in late 2007, spending climbed and tax collections fell to historically unusual levels, resulting in enormous deficits. Longer-term forecasts of the U.S. budget, a decade or more into the future, predict enormous deficits.

When the government runs a budget deficit, it is spending more than it is taking in. In this way, national savings decreases. When national savings decreases, investment–the primary store of national savings–also decreases. Lower investment leads to lower long-term economic growth.

In 2000, for example, the interest payments on the federal government debt added $222.8 billion to government expenditures. What Caused the Debt to Grow? As the U.S. Treasury borrowed (by issuing Treasury bills, notes, and bonds) to pay its bills, there was a marked increase in the size of the national debt.

$3.3 trillion

The federal budget for the 2020 fiscal year was set at $4.79 trillion.

The remaining two bills for Homeland Security and the Legislative Branch were not expected to be voted upon soon after. A continuing resolution lasting until December 11, 2020 was passed by the House on September 29, and by the Senate on September 30. The final bill is the Consolidated Appropriations Act, 2021.

The FY 2022 President’s Budget request of $715 billion when compared to the FY 2021 enacted amount of $703.7 billion, reflects a 1.6% increase.

United States

China has the strongest military in the world, scoring 82 out of 100 points in the index, it noted.

In 2021, China had the largest armed forces in the world by active duty military personnel, with about 2.19 active soldiers. India, the United States, North Korea, and Russia rounded out the top five largest armies respectively, each with over one million active military personnel.

• United States. #1 in Power Rankings. No Change in Rank from 2020.
• China. #2 in Power Rankings. #3 out of 73 in 2020.
• Russia. #3 in Power Rankings. #2 out of 73 in 2020.
• Germany. #4 in Power Rankings.
• United Kingdom. #5 in Power Rankings.
• Japan. #6 in Power Rankings.
• France. #7 in Power Rankings.
• South Korea. #8 in Power Rankings.

The United States

Below, you can see the 25 most powerful militaries in Europe.

1. Russia (Overall ranking: 2)
2. France (Overall ranking: 5)
3. United Kingdom (Overall ranking: 6)
4. Turkey (Overall ranking: 9)
5. Germany (Overall ranking: 10)
6. Italy (Overall ranking: 11)
7. Spain (Overall ranking: 19)
8. Poland (Overall ranking: 22)

Top 5 weakest armies in Europe 2020

• Number: 2,260 people, half of which are officers.
• #2 – North Macedonia.
• Rating: 3.18, position in the world ranking – 127 out of 138;
• Number: 8000 people.
• #1 – Bosnia and Herzegovina.
• Rating: 3.85, position in the world ranking – 133 out of 138;
• Number: 10,000 people.

Omar Bradley

the Air Force

Similar shares of men and women currently serve in the Army, which is the largest active-duty branch of the military, and in the Navy. But women are more likely than men to be in the Air Force; nearly one-third (31%) of military women are in the Air Force compared with 22% of men.