How do children fare in the federal budget? Investments in children's health, education, and overall well-being pay high dividends for taxpayers and the economy as a whole. Without adequately funded education, nutrition, housing, early education and care, and other basic supports, the foundation of children's well-being is at risk. This report 1) explains how spending on children fits in the broad budgetary context, 2) closely examines how historical and current federal spending on children is distributed among different programs, types of programs, and types of spending, and 3) projects future federal spending on children, if current laws and policies remain unchanged. The report finds that spending on Social Security, Medicare, and Medicaid (excluding children) will continue rising as a share of the federal budget, to nearly half (47 percent) of federal spending in 2024, while the share of federal outlays on children is projected to decline to just under 8 percent that same year. All categories of federal spending on children except health are projected to experience relative declines over the next decade. [Four commentaries are included: (1) Federal Spending Priorities Are Wrong (Ron Haskins); and (2) Follow the Money: Inconvenient Truths About Public Investments in Children (Ruby Takanishi)--The Foundation for Child Development partially funded the analyses reported in this commentary; (3) The Big Shift and Future Public Investments in Children (W. Steven Barnett); and (4) Federal, State and Local Expenditures: Not Suitable for Young Children (Sarah Ann Kotchian). Commentaries are individually referenced.]