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usaspending.gov - interactive official chart; Congressional Budget Office; The Federal Budget from the White House, OMB; U.S. Federal Budget collected news and commentary at The New York Times; Budget of the United States Government and various supplements from 1923 to the present. Federal Budget Receipts and Outlays from 1930 to the present.
The 2011 budget included estimated spending for 2010, shown in the graph at right for selected departments and agencies with over $10 billion in budget authority. Funding for the Department of Defense is mostly discretionary, but is excluded from this total and analyzed separately in this article.
Mathematically, this is the debt divided by the GDP amount. The Congressional Budget Office includes historical budget and debt tables along with its annual "Budget and Economic Outlook". Debt held by the public as a percentage of GDP rose from 34.7% GDP in 2000 to 40.5% in 2008 and 67.7% in 2011. [34]
Similarly, CBO projected at the start of Biden’s term that the federal budget deficit in 2031 would be $1.88 trillion. Now, CBO says it will be $2.23 trillion.
The graph to the right shows the larger share of the Federal Budget that mandatory spending has taken up over time. Though the rate of increase has since slowed, mandatory spending composed about 60 percent of the federal budget since FY 2012.
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record.
On a per-capita basis, California receives less federal money than 12 lower population states. According to California's Department of Finance, the state's 2017-2018 enacted state budget includes over $180 billion in state funds. [33] As can be seen below, Table 1 gives an overview of California's 2017-2018 enacted state budget.