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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.
CBO: U.S. Federal spending and revenue components for fiscal year 2023. Major expenditure categories are defense, healthcare, and Social Security; income and payroll taxes are the primary revenue sources.
CBO current law baseline as of May 2023, showing forecast of deficit and debt by year. The budget document often begins with the President's proposal to Congress recommending funding levels for the next fiscal year, beginning October 1 and ending on September 30 of the year following. The fiscal year refers to the year in which it ends.
The Congressional Budget Office said Wednesday that it expects the federal budget deficit to drop by $188 billion this fiscal year to $1.5 trillion, a short-lived dip as the annual shortfall is ...
The Congressional Budget Office said Wednesday that it expects the U.S. economy to stagnate this year with the unemployment rate jumping to 5.1% — a bleak outlook that was paired with a 10-year ...
The estimate, which precedes the U.S. Treasury Department's year-end budget report later this month, shows a deficit up 11% from the $1.7 trillion fiscal 2023 gap but slightly lower than the $1.9 ...
CBO: U.S. Federal spending and revenue components for fiscal year 2023. Major expenditure categories are healthcare, Social Security, and defense; income and payroll taxes are the primary revenue sources. For most governments around the world, the majority of government spending takes place at the federal/national level.
The Consolidated Appropriations Act, 2023 is a $1.7 trillion omnibus spending bill funding the U.S. federal government for the 2023 fiscal year. [ 1 ] [ 2 ] It includes funding for a range of domestic and foreign policy priorities, including support for Ukraine , defense spending, and aid for regions affected by natural disasters.