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Spending History 2008-2012


UNITED STATES REVENUES AND EXPENDITURES
Federal Fiscal Years 2008 - 2012
(In Billions of Dollars)
Numbers may not add exactly due to rounding.

 
2008
(Actual)
2009
(Actual)
2010
(Actual)
2011
(Actual)
2012
(Actual)
REVENUES
Individual Income Taxes
1,146.0
915.0
899.0
1,091.0
1,132.0
Corporate Income Taxes
304.0
138.0
191.0
181.0
242.0
Social Insurance Taxes 1
900.0
891.0
865.0
819.0
845.0
Other 2
173.0
160.0
207.0
211.0
229.0
 
TOTAL REVENUES
2,524.0
2,105.0
2,162.0
2,302.0
2,449.0
OUTLAYS
Discretionary Outlays
Defense
613.0
656.0
689.0
700.0
670.0
Nondefense 3
519.0
581.0
660.0
646.0
615.0
Interest
249.0
____-
____-
____-
____-
 
1,382.0
1,237.0
1,349.0
1,346.0
1285.0
Mandatory Outlays
Social Security
612.0
678.0
701.0
725.0
768.0
Medicare
455.0
499.0
520.0
560.0
551.0
Medicaid
201.0
251.0
273.0
275.0
251.0
Other Health Care
-
-
-
-
24.0
Income Support 4
228.0
-
-
-
354.0
Other Retirement &
Disability
129.0
-
-
-
143.0
Veterans
45.0
-
-
-
68.0
Other Programs
118.0
861.0
600.0
655.0
82.0
Net Interest 5
1.7
187.0
197.0
227.0
223.0
Offsetting Receipts 6
(192.0)
(195.0)
(184.0)
(190.0)
(209.0)
 
1,597.7
2,281.0
1,910.0
2,252.0
2,254.0
 
TOTAL OUTLAYS
2,979.7
3,518.0
3,456.0
3,598.0
3,538.0
Surplus/Deficit
(455.7)
(1,414.0)
(1,294.0)
(1,296.0)
(1,089.0)
 
U.S. DEBT
Debt Held by the Public 7
5,803.0
7,544.0
9,018.0
10,132.0
11,280.0
Intragovernmental Debt 8
4,183.0
4,330.0
4,528.0
4,658.0
4,768.0
Total U.S. Debt
9,986.0
11,874.0
13,546.0
14,790.0
16,048.0
 
 
Gross Domestic Product (GDP) 9
14,224.0
14,236.0
14,513.0
15,294.3
15,549.0
 
Surplus/Deficit as Percentage of GDP
3.20%
9.93%
8.92%
8.47%
7.00%
Debt Held by the Public as Percentage of GDP
40.80%
52.99%
61.14%
66.25%
72.54%
Total Debt as Percentage of GDP
70.21%
83.41%
93.34%
96.70%
103.21%
           

1-Social Insurance Taxes consist mainly of payroll taxes, which are primarily taxes for Social Security(called Old-Age, Survivors, and Disability Insurance, or OASDI) and Medicare's Hospital Insurance (HI).A small share of social insurance tax revenues comes from unemployment insurance taxes and contributions to other federal retirement programs.

2-Nearly all excise taxes fall into 5 major categories: highway, airport, telephone, alcohol, and tobacco taxes. Almost half of all excise receipts are earmarked by law to The Highway Trust Fund and they come primarily from taxes on gasoline and diesel fuel. The CBO now aggregates excise taxes, estate and gift taxes, and customs duties under “Other.” The breakdown, however, is still available.

3-Through FFY 2005 this line was called "International" by the CBO. In FFY 2006, they changed the title of the line to "Nondefense" and "Domestic" was removed.

4-Income support includes unemployment compensation, supplemental security income, earned income and child tax credits, food stamps, family support, child nutrition, and foster care.

5-Net interest includes interest paid on Treasury securities and other interest that the government pays(for example, on late refunds issued by the Internal Revenue Service) minus interest that the government collects from various sources (such as commercial banks, where Treasury tax and loan accounts are maintained.) Net interest is determined by the size and composition of the government's debt, annual budget deficits or surpluses, and market interest rates.

6-Offsetting receipts include Medicare premiums and employers' share of employee retirement, as well as federal pension programs, receipts from auctions and leasing, usert fees, etc. However, the largest amounts are from Medicare premiums and employers' share of employee retirement.

7-These numbers do not agree with those published by the U.S. Bureau of Public Debt. This is because the Bureau of Public Debt reports the face value of all debt outstanding. However, some of the bonds sold have interest rates that are indexed to inflation. Therefore, the CBO adjusts the public debt annually to reflect the current market value.

8-Through FFY 2005 these numbers only are from the U.S. Bureau of Public Debt as they are not published by the Congressional Budget Office. In FFY 2006 the CBO began reporting Intergovernmental Debt, but stopped publishing it in 2010. In 2010 and after, the Intergovernmental Debt amount is from the Bureau of Public Debt.

9-These numbers do not agree with those published by the U.S. Bureau of Economic Analysis. According to The Congressional Budget Office, its number is calculated from seasonally adjusted quarterly national income and product account data from the Bureau of Economic Analysis. This may or may not explain the difference.

Source: Congressional Budget Office

 

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