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Fiscal Year 2012
|Budget Category||$ Billions||% of Outlays|
Source: Final Monthly Treasury Statement September 2012
* Percentage column numbers might be altered to allow total to equal 100%
In FY2012, the federal government collected $2 trillion, 449 billion in taxes and borrowed $1 trillion, 89 billion to pay for the above spending.
Notes on Spending Categories
• Health includes Medicare, Medicaid, veterans health programs, safety-health inspections and the Children’s Health Insurance Program (CHIP).
• International Affairs includes foreign aid, development and humanitarian assistance, international security assistance, and conduct of foreign affairs
• Income Security includes unemployment compensation, housing assistance, food stamps, nutrition programs, general retirement and disability insurance (excluding Social Security) and other income security programs.
• Interest is the amount spent by the government to service the publicly held national debt. Just as you might pay interest on a mortgage, student loan or credit card, the government has to pay interest on money it borrows to cover budget deficits.
• Other includes most domestic homeland security, science, space and technology, National Institutes of Health, energy, agriculture, commerce and housing credits, disaster relief, job training and social services, veterans benefits and services (except health benefits), justice and other government spending.
This budget exercise was developed by the Concord Coalition.
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