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Budget of the United States Government

Every year in February the President of the United States sends to Congress a budget request for the fiscal year that begins in ten months on October 1. This Budget of the United States Government starts the annual “budget process” that ends when Congress passes and the president signs the annual appropriations bills or continuing resolutions to fund the federal government for another fiscal year.

On this page you can see headline numbers for budgeted revenue (or “receipts”), deficits, and also for major revenue types. Click here for details of receipts by function for the next five years.

Source: Budget of the United States Government.

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FY 15+ Federal Budget   also: Spending Budget  

 

Recent and budgeted headline federal budget numbers in the FY 15+ Budget including overall revenue, deficit, and debt.

$ trillion nom
201420152016
  Revenue3.03.33.6 
  Federal Deficit0.50.60.5 
  Other Borrowing0.60.30.3 
  Gross Federal Debt17.818.719.5 
source: actual budgeted estimated

Click for Budget Detail


Click chart for detailed piechart

Other budgets:
FY86 FY87 FY88 FY89 FY90 FY91 FY92 FY93 FY94 FY95 FY96 FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14

FY 15+ Federal Budget: Revenue by Type

Recent and budgeted federal revenue in the FY 15+ Budget
for major federal revenue types.

$ trillion nom
201420152016
  Income Taxes1.72.02.1 
  Social Insurance Taxes1.01.11.1 
  Ad valorem Taxes0.20.20.2 
  Fees and Charges0.00.00.0 
source: actual budgeted estimated

Click for Budget Detail

Notes

Data Sources: Federal Revenue from Budget of the United States Government.

For a discussion of the sources of the government revenue data used here read How We Got the Data for usgovernmentspending.com.

Budget Updates: The president’s budget is typically published each year in February.

Federal Budget in History

in dollars

in percent GDP

1863 - Gross federal debt exceeded $1 billion for first time.

1865 - Federal spending exceeded $1 billion for first time.

1914 - Federal spending exceeded $1 billion for second time.

1918 - Gross federal debt exceeded $10 billion for first time.

1921 - Bureau of the Budget established by Budget and Accounting Act.

1943 - Gross federal debt exceeded $100 billion for first time.

1970 - Office of Management and Budget created.

1982 - Gross federal debt exceeded $1 trillion for first time.

1987 - Federal spending exceeded $1 trillion for first time.

2009 - Gross federal debt exceeded $10 trillion for first time.

1792 - Federal debt at 35 percent GDP.

1795 - Federal spending at two percent GDP.

1854 - Federal debt at one percent GDP.

1865 - Federal spending at 13 percent GDP at height of Civil War.

1867 - Federal debt at 32 percent GDP after Civil War.

1907 - Federal spending at 2.2 percent GDP.

1913 - Federal debt at 7.5 percent GDP.

1919 - Federal spending at 24 percent GDP at height of World War I.

1919 - Federal debt at 35 percent GDP after World War I.

1929 - Federal spending at 3.7 percent GDP.

1929 - Federal debt at 16 percent GDP.

1945 - Federal spending at 48 percent GDP at height of World War II.

1946 - Federal debt at 122 percent GDP after World War II.

1951 - Federal spending at 14.4 percent GDP.

1981 - Federal debt at 32 percent GDP.

1982 - Federal spending at 23 percent GDP.

1995 - Federal debt at 66 percent GDP.

2000 - Federal spending at 18 percent GDP.

2009 - Federal spending at 24 percent GDP.

2011 - Federal debt at 97 percent GDP.

Top Revenue Requests:

Find DEFICIT stats and history.

US BUDGET overview and pie chart.

Find NATIONAL DEBT today.

See FEDERAL BUDGET breakdown and estimated vs. actual.

Check INCOME TAX details and history.

See BAR CHARTS of revenue, debt.

See PIE CHARTS of total revenue, federal revenue.

Check STATE revenue: CA NY TX FL and compare.

See REVENUE HISTORY briefing.

Take a COURSE at Taxes 101.

Make your own CUSTOM CHART.

Revenue Data Sources

Revenue data is from official government sources.
  Federal data since 1962 comes from the president’s budget.
  All other revenue data comes from the US Census Bureau.

Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.

Detailed table of revenue data sources here.

Federal revenue data begins in 1792.

State and local revenue data begins in 1890.

State and local revenue data for individual states begins in 1957.

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Next Data Update

> State Finances FY13

> data update schedule.

Data Sources for 2013_2016:

Sources for 2013:

GDP, GO: See GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 2.1, 2.4, 2.5, 7.1
State and Local: State and Local Gov. Finances
Guesstimated” by projecting the latest change in reported revenue forward to future years

Sources for 2016:

GDP, GO: See GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 2.1, 2.4, 2.5, 7.1
State and Local: State and Local Gov. Finances
Guesstimated” by projecting the latest change in reported revenue forward to future years

> data sources for other years
> data update schedule.

Federal Deficit Announced for FY14

On October 13, 2014, the US Treasury reported in its Monthly Treasury Statement for September that the federal deficit for FY14 ending September 30 was $483 billion. Here are the numbers, including total receipts, total outlays, and deficit compared with the numbers projected in the FY 15 federal budget published in February 2014:

Federal Finances
FY14 Outcomes
Budget
billions
Outcome
billions
Receipts $3,002$3,021
Outlays$3,651$3,504
Deficit$649$483

usfederalbudget.us now shows the new numbers for total FY14 outlays and receipts on its Estimate vs. Actual page.

The Monthly Treasury Statement includes "Table 9. Summary of Receipts by Source, and Outlays by Function of the U.S. Government, September 2014 and Other Periods".   This table of outlays by function makes it possible for usgovernmentspending.com to estimate outlays by "subfunction" for FY2014 by factoring budgeted amounts by the difference between budgeted and actual "function" amounts where actual outlays by subfunction cannot be gleaned from the Monthly Treasury Statement.

Final detailed FY2014 numbers will not appear until the FY2016 federal budget is published in February 2015

Tax links

us dataus chartdeficit/gdptaxes/gdpdebt/gdpus gdpus real gdp2009breakdownfederalstatelocal2010californianew yorktexas

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usgovernmentrevenue.com was designed and executed by:

Christopher Chantrill.

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