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Learn about the historical and current salaries of senators and representatives in the US Congress, as well as the cost of living adjustments and the Twenty-seventh Amendment. See a chart of salaries from 1789 to 2023, with inflation-adjusted amounts.
The 2008 budget proposed by President Bush requested $2.9 trillion in spending and $239 billion in deficit. The actual spending was $2.983 trillion and the deficit was $458.6 billion, due to lower revenues and higher costs.
GS is the predominant pay scale for white collar federal employees in the US, with 15 grades and 10 steps. GS-13 is the mid-level range for top-level positions, such as senior managers, technical specialists, or physicians.
The act provided for tax rebates, tax incentives and mortgage limits to boost the U.S. economy in 2008. It was signed by President Bush in February 2008 and cost $152 billion for 2008.
The Executive Schedule is the system of salaries for the highest-ranked appointed officials in the U.S. government. Level IV is the third-highest level, with a pay rate of $191,900 as of January 2024. See the list of positions eligible for Level IV and the other levels.
The debt ceiling is a limit on the amount of national debt that the U.S. Treasury can incur, which does not directly control or limit the budget deficit. Learn about the history, legal issues, and recent developments of the debt ceiling, which is currently suspended until 2025.
A U.S. federal law that created programs to bail out failing financial institutions and banks during the Great Recession. It authorized the $700 billion Troubled Asset Relief Program (TARP), which purchased toxic assets and injected capital into banks, and faced public opposition and market volatility.
The fiscal year 2010 president's budget request for a 2.9% military pay raise was consistent with this formula. However, Congress, in fiscal years 2004, 2005, 2006, 2008, and 2009 approved the pay raise as the ECI increase plus 0.5%. The 2007 pay raise was equal to the ECI. A military pay raise larger than the permanent formula is not uncommon.