Expenditures in the United States federal budget information
Overview of expenditures in the United States federal budget
This article is part of a series on the
Budget and debt in the United States of America
Major dimensions
Economy
Expenditures
Federal budget
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Contemporary issues
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2023
2013 budget sequestration
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1980
1981, 1984, 1986
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Jan 2018
2018–2019
Related events
2023 Removal of Kevin McCarthy
Terminology
Cumulative deficit + Interest ≈ Debt
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Inflation
Continuing resolution
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The United States federal budget consists of mandatory expenditures (which includes Medicare and Social Security), discretionary spending for defense, Cabinet departments (e.g., Justice Department) and agencies (e.g., Securities & Exchange Commission), and interest payments on debt. 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. Major categories of FY 2022 spending included: Medicare and Medicaid ($1,339B or 5.4% of GDP), Social Security ($1.2T or 4.8% of GDP), non-defense discretionary spending used to run federal Departments and Agencies ($910B or 3.6% of GDP), Defense Department ($751B or 3.0% of GDP), and net interest ($475B or 1.9% of GDP).[1]
Expenditures are classified as "mandatory", with payments required by specific laws to those meeting eligibility criteria (e.g., Social Security and Medicare), or "discretionary", with payment amounts renewed annually as part of the budget process, such as defense. Around two thirds of federal spending is for "mandatory" programs. CBO projects that mandatory program spending and interest costs will rise relative to GDP over the 2016–2026 period, while defense and other discretionary spending will decline relative to GDP.[2]
^The Federal Budget in Fiscal Year 2022: An Infographic
^CBO-The Budget and Economic Outlook: 2018-2028-April 9, 2018
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