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The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies.
Transfer payments to (persons) as a percent of Federal revenue in the United States Transfer payments to (persons + business) in the United States. CBO projects that spending for Social Security, healthcare programs and interest costs will rise relative to GDP between 2017 and 2027, while defense and other discretionary spending will decline relative to GDP.
A balanced budget is when government spending in a given year equals government revenue in that year. [ 24 ] [ 25 ] This high degree of fiscal balancing is a result of most states in the U.S. having balanced budget requirements. [ 26 ]
This is a table of the total federal tax revenue by ... and the territory of Puerto Rico by the IRS in fiscal year 2020, which ran from October 1, 2019, through ...
The United States federal budget for fiscal year 2023 ran from October 1, 2022, to September 30, 2023. The government was initially funded through a series of three temporary continuing resolutions. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2023.
"The gap between federal spending and revenues would widen after 2015 under the assumptions of the extended baseline...By 2039, the deficit would equal 6.5% GDP, larger than in any year between 1947 and 2008, and federal debt held by the public would reach 106% of GDP, more than in any year except 1946—even without factoring in the economic ...
In the fiscal year 2019, the United States federal budget will be 4.407 trillion in total spend. The government estimates that it will receive approximately 3.422 trillion in revenue in turn leaving a deficit of 985 billion for October 2018 to September 2019.
The Great Recession had caused federal government revenues to fall to their lowest level relative to the size of the economy in 50 years, with tax revenues falling nearly $400 billion (20%) from 2008 to 2009.