How much is the federal budget for 2021?

BUDGET PROJECTIONS FOR FY 2021

OUTLAYS	$6.8 Trillion
REVENUES	$3.8 Trillion
DEFICIT	$3.0 Trillion
DEBT HELD BY THE PUBLIC (End of Fiscal Year)	$23.0 Trillion

What are the 3 biggest spending items in the budget of the federal government?

Government spending is broken down into three categories: mandatory spending, budgeted at $4.018 trillion; discretionary spending, forecasted to be $1.688 trillion; and interest on the national debt, estimated to be $305 billion.

What does the federal government spend most of its budget on?

More than half of FY 2019 discretionary spending went for national defense, and most of the rest went for domestic programs, including transportation, education and training, veterans’ benefits, income security, and health care (figure 4).

How Much Is America worth?

The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP) as of Q1 2014.

What are the pillars of the federal budget?

The budget for the fiscal year 2020 was based on these pillars: the safety and security of Americans, a stronger and healthier economy, enhanced quality of life, and a commitment to a better future. Creating the national budget for the fiscal year is a process that begins with the presidential budget.

Where can I get a copy of the federal budget?

Provides a wide range of data on Federal Government finances. Includes Budget Authority, Outlays, Receipts, and User Guide that can be downloaded by clicking Details below and then clicking the Document in Context tab. Purchase a print copy of the Budget through GPO’s retail and online bookstores.

When does the government release the FY2020 budget?

Issued by the Office of Management and Budget (OMB), the main Budget publication for FY2020 was made available March 11, and the supporting materials including the Analytical Perspectives and Major Savings and Reforms publications are now also available.

Which is the fourth largest item in the federal budget?

One of the ways to increase funding for other discretionary programs involves cuts to mandatory programs or raising taxes, both of which are considered politically controversial. The government must pay interest on its total outstanding debt each year. These interest payments are the fourth largest budget items in the fiscal budget.

How much is the federal budget for 2021? BUDGET PROJECTIONS FOR FY 2021 OUTLAYS $6.8 Trillion REVENUES $3.8 Trillion DEFICIT $3.0 Trillion DEBT HELD BY THE PUBLIC (End of Fiscal Year) $23.0 Trillion What are the 3 biggest spending items in the budget of the federal government? Government spending is broken down into three categories:…