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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 ]
This is currently over half of U.S. government spending, the remainder coming from state and local governments. During FY2022, the federal government spent $6.3 trillion. Spending as % of GDP is 25.1%, almost 2 percentage points greater than the average over the past 50 years.
It included various tax and spending adjustments to bring long-run government tax revenue and spending into line at approximately 21% of GDP, with $4 trillion debt avoidance over 10 years. Under 2011 policies, the national debt would increase approximately $10 trillion over the 2012–2021 period, so this $4 trillion avoidance reduces the ...
Spending on contracting and supplies is the second-biggest major spending group for the federal government, according to usaspending.gov. More than $1.1 trillion was spent on deals negotiated by ...
The United States federal budget is divided into three categories: mandatory spending, discretionary spending, and interest on debt. Also known as entitlement spending, in US fiscal policy, mandatory spending is government spending on certain programs that are required by law. [1] Congress established mandatory programs under authorization laws.
Note that a fiscal year is named for the calendar year in which it ends, so "2022-23" means two fiscal years: the one ending in calendar year 2022 and the one ending in calendar year 2023. Figures do not include state-specific federal spending, or transfers of federal funds.
Historically, government spending increased year-over-year in nominal (i.e., unadjusted for inflation) terms from 1971 to 2009. However, by limiting the rate of growth in discretionary spending (defense and non-defense) while growing revenues, the budget was balanced from 1998–2001.
The US is is already $36 trillion in debt and heading toward $52 trillion by 2035 if nothing is done. Shocking government report reveals national debt crisis grew much worse under Biden Skip to ...