Admin Table of Contents
- 1 How much did the federal government spend in 2009?
- 2 How much did the government spend in 2011?
- 3 How much was the federal budget in 2008?
- 4 How much of the budget is mandatory spending?
- 5 What are the deficits for 2010?
- 6 Why is fiscal year used?
- 7 What percentage of the GDP does government spending represent in 2020?
- 8 What was the federal budget for FY 2010?
- 9 How much money does the federal government spend each year?
- 10 What was the budget for TARP in FY 2010?
How much did the federal government spend in 2009?
2009 United States federal budget
| Submitted | February 4, 2008 |
|---|---|
| Submitted by | George W. Bush |
| Submitted to | 110th United States Congress |
| Total revenue | $2.7 trillion (estimated) $2.105 trillion (actual) 14.6% of GDP (actual) |
| Total expenditures | $3.107 trillion (estimated) $3.518 trillion (actual) 24.4% of GDP (actual) |
How much did the government spend in 2011?
2011 United States federal budget
| Submitted | February 1, 2010 |
|---|---|
| Total expenditures | $3.834 trillion (requested) $3.603 trillion (actual) 23.4% of GDP (actual) |
| Deficit | $1.645 trillion (requested) 10.9% of GDP $1.30 trillion (actual) 8.5% of GDP (actual) |
| Debt | $14.764 trillion (at fiscal end) 96.0% of GDP |
| GDP | $15.379 trillion |
What did the government spend as a percentage of GDP in 2010?
By the OECD’s measure, U.S. government spending topped 42 percent of GDP in 2009 and 2010 — when the economy hit bottom — and has slipped to 41 percent this year.
How much was the federal budget in 2008?
2008 United States federal budget
| Submitted | February 5, 2007 |
|---|---|
| Submitted by | George W. Bush |
| Submitted to | 110th Congress |
| Total revenue | $2.662 trillion (requested) $2.524 trillion (actual) 17.1% of GDP (actual) |
| Total expenditures | $2.902 trillion (requested) $2.983 trillion (actual) 20.2% of GDP (actual) |
How much of the budget is mandatory spending?
Mandatory spending makes up nearly two-thirds of the total federal budget. Social Security alone comprises more than a third of mandatory spending and around 23 percent of the total federal budget. Medicare makes up an additional 23 percent of mandatory spending and 15 percent of the total federal budget.
Is there a federal budget for 2021?
The United States federal budget for fiscal year 2021 runs from October 1, 2020 to September 30, 2021. The final funding package was passed as a consolidated spending bill on December 27, 2020, the Consolidated Appropriations Act, 2021.
What are the deficits for 2010?
The 2010 deficit was equal to 8.9 percent of gross domestic product (GDP), CBO estimates, down from 10.0 percent in 2009 (based on the most current estimate of GDP).
Why is fiscal year used?
A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting. A fiscal year is most commonly used for accounting purposes to prepare financial statements. For example, universities often begin and end their fiscal years according to the school year.
What was the United States deficit in 2010?
$1.293 trillion
Deficit. The total deficit for fiscal year 2010 was $1.293 trillion.
What percentage of the GDP does government spending represent in 2020?
31%
In Fiscal Year 2020, federal spending was equal to 31% of the total gross domestic product (GDP), or economic activity, of the United States that year ($21.00 trillion). Why do we compare federal spending to gross domestic product?
What was the federal budget for FY 2010?
The fiscal year 2010 was the Obama administration’s first budget. It estimated revenue and spending from October 1, 2009, to September 30, 2010. It was passed on April 3, 2009, ahead of schedule. The Federal government received $2.165 trillion in revenue in FY 2010.
What was the deficit in the 2010 budget?
The total deficit for fiscal year 2010 was $1.293 trillion. “Remarks by the President on the Fiscal Year 2010 Budget”. REMARKS BY THE PRESIDENT ON THE FISCAL YEAR 2010 BUDGET. “Summary Tables”. 2012 Budget of the U.S. Government. United States Office of Management and Budget. 14 February 2011.
How much money does the federal government spend each year?
Around 40% of spending, or $1.306 trillion, went toward the discretionary budget, which the President and Congress negotiate each year. The Mandatory Budget was $2 trillion, or 52.6% of the budget. The largest items were Social Security and Medicare payments to recipients, as follows: All other mandatory programs – $590 billion.
What was the budget for TARP in FY 2010?
The government spent $151 billion on TARP in FY 2009. An additional $45 billion was budgeted in FY 2010 to bail out mostly community banks who were in danger of failing under too many subprime mortgages. But $110 billion was paid back by the large banks, actually adding revenue.