2007 United States federal budget: Difference between revisions
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The amount that the government must borrow, either from the public in the form of bonds held by the Security Trust Fund, or by selling securities to other entities will add to the total [[United States public debt|public debt]] as of September 2006 (end of the Fiscal Year 2006), 8.5 trillion. |
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==See also== |
==See also== |
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Revision as of 17:34, 29 March 2007
The United States federal budget for fiscal year 2007 is a spending request by President George W. Bush to fund government operations for October 2006-September 2007.
Total Receipts
Estimated receipts for fiscal year 2007 are $2.4 trillion. This expected income is broken down by the following sources:
- $1.1 trillion (+12.1%) - Individual income tax
- $884.1 billion (+7.4%) - Social Security and other payroll taxes
- $260.6 billion (+15.5%) - Corporate income tax
- $74.6 billion (-1.3%) - Excise taxes
- $28.1 billion (+0.7%) - Customs duties
- $23.7 billion (-9.2%) - Estate and gift taxes
- $48.4 billion (+14.0%) - Other
Total Spending
The President's budget for 2007 totals $2.8 trillion. This budget request is broken down by the following expenditures:
- $586.1 billion (+7.0%) - Social Security
- $466.0 billion (+4.0%) - Defense
- $394.5 billion (+12.4%) - Medicare
- $367.0 billion (+2.0%) - Unemployment and welfare
- $276.4 billion (+2.9%) - Medicaid and other health related
- $243.7 billion (+13.4%) - Interest on debt
- $89.9 billion (+1.3%) - Education and training
- $76.9 billion (+8.1%) - Transportation
- $72.6 billion (+5.8%) - Veterans' benefits
- $43.5 billion (+9.2%) - Administration of justice
- $33.1 billion (+5.7%) - Natural resources and environment
- $32.5 billion (-15.4%) - Foreign affairs
- $27.0 billion (+3.7%) - Agriculture
- $26.8 billion (+28.7%) - Community and regional development
- $25.0 billion (+4.0%) - Science and technology
- $20.1 billion (+11.4%) - General government
- $1.1 billion (-47.6%) - Energy
2007 Deficit Estimate
(The amount that on budget government spending exceeds on budget government receipts)
- $400 billion
The amount that the government must borrow, either from the public in the form of bonds held by the Security Trust Fund, or by selling securities to other entities will add to the total public debt as of September 2006 (end of the Fiscal Year 2006), 8.5 trillion.
See also
External links
- The President's Budget of the United States Government, FY 1996 -- present
- The Budget Graph A graphical representation of the 2007 United States federal discretionary budget
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