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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.
National defense spending is any government spending attributable to the maintenance and strengthening of the United States Armed Forces, including the Army, Navy, Marines, and the Air Force. [15] As of the fiscal year 2019 budget approved by Congress, national defense is the largest discretionary expenditure in the federal budget . [ 14 ]
Historical and projected US Federal Government revenues and spending from 2018 GAO financial report Medicare & Social Security. Social Security and Medicare expenditures are funded by permanent appropriations and so are considered mandatory spending according to the 1997 Budget Enforcement Act (BEA).
A number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts). In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years.
WASHINGTON (Reuters) -President Joe Biden sketched his policy vision for the United States on Monday, unveiling a $7.3 trillion spending wish list that is as much an election-year pitch to voters ...
The aim of the commission is to cut government spending. The US spent $6.75 trillion in fiscal year 2024, with Social Security and health topping the list. President-elect Donald Trump has ...
Section 201 of the Social Security Act requires that the money in the trust funds be invested in interest-bearing debt securities issued and guaranteed by the federal government known as U.S ...
The United States federal budget for fiscal year 2024 ran from October 1, 2023, to September 30, 2024.. From October 1, 2023, to March 23, 2024, the federal government operated under continuing resolutions (CR) that extended 2023 budget spending levels as legislators were debating the specific provisions of the 2024 budget.