2006 United States federal budget

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2006 (2006) Budget of the United States federal government
2005
2007
Submitted by George W. Bush
Submitted to 108th Congress
Total revenue $2.41 trillion
Total expenditures $2.66 trillion
Deficit $248.2 billion
Debt $8.45 trillion
Website http://www.cbo.gov/doc.cfm?index=10014 Congressional Budget Office

The United States federal budget for fiscal year 2006 is a spending request by President Bush to fund government operations for the year beginning October 1, 2006.

Total Receipts[edit]

Estimated receipts for fiscal year 2006 are $2.2 trillion. This expected income is broken down by the following sources:

  • $966.9 billion (44.4%) - Individual income tax
  • $818.8 billion (37.6%) - Social Security and other payroll taxes
  • $220.3 billion (10.1%) - Corporate income tax
  • $75.6 billion (3.5%) - Excise taxes
  • $26.1 billion (1.2%) - Estate and gift taxes
  • $28.3 billion (1.3%) - Customs duties
  • $41.6 billion (1.9%) - Other (Including, Capital gains tax and Generation-skipping transfer tax)

Total Spending[edit]

The President's budget for 2006 totals $2.7 trillion. This budget request is broken down by the following expenditures:

  • $544.8 billion (20.90%) - Social Security
  • $512.1 billion (18.00%) - Defense
  • $359.5 billion (13.79%) - Unemployment and welfare
  • $345.7 billion (13.26%) - Medicare
  • $268.4 billion (10.30%) - Medicaid and other health related
  • $211.1 billion (8.10%) - Interest on debt
  • $88.7 billion (3.40%) - Education and training
  • $70.7 billion (2.71%) - Transportation
  • $68.4 billion (2.62%) - Veterans' benefits
  • $43.1 billion (1.65%) - Administration of justice
  • $38.4 billion (1.47%) - Foreign affairs
  • $31.2 billion (1.20%) - Natural resources and environment
  • $26.0 billion (1.00%) - Agriculture
  • $24.0 billion (0.92%) - Science and technology
  • $19.1 billion (0.73%) - Community and regional development
  • $17.8 billion (0.68%) - General government
  • $23.4 billion - Energy

Adjustments[edit]

  • -$698 billion (2.68%) - Undistributed offsetting receipts

2006 Deficit Estimate[edit]

(The amount that government spending exceeds total receipts)

  • $500 billion

See also[edit]

External links[edit]