2004 United States federal budget

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2004 (2004) Budget of the United States federal government
Submitted February 3, 2003 [1]
Submitted by George W. Bush
Submitted to 108th Congress
Total revenue $1.92 trillion (requested)[2]
$1.88 trillion (actual)[3]
15.6% of GDP (actual)[4]
Total expenditures $2.23 trillion (requested)[2]
$2.292 trillion (actual)[3]
19.0% of GDP (actual)[4]
Deficit $307 billion (requested)[2]
$412 billion (actual)[3]
3.4% of GDP (actual)[4]
Debt $7.35 trillion (at fiscal end)
60.8% of GDP[5]
GDP $12.089 trillion[4]
Website Government Publishing Office
2003
2005

The 2004 United States Federal Budget began as a proposal by President George W. Bush to fund government operations for October 1, 2003 – September 30, 2004. The requested budget was submitted to the 108th Congress on February 3, 2003.

Total Receipts[edit]

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2004 Actual Receipts by Source

  Social Security/other payroll tax (39.0%)
  Excise tax (3.7%)
  Estate and gift taxes (1.3%)
  Customs duties (1.1%)
  Other miscellaneous receipts (1.8%)

Receipts by source: (in billions of dollars)

Source Requested[6] Actual[7]
Individual income tax 850 809
Corporate income tax 169 189
Social Security and other payroll tax 765 733
Excise tax 71 70
Estate and gift taxes 23 25
Customs duties 21 21
Other miscellaneous receipts 24 33
Total 1,922 1,880

Total Outlays[edit]

Outlays by budget function (in millions)

Function Title Actual
050 National Defense $455,813
150 International Affairs $26,870
250 General Science, Space and Technology $23,029
270 Energy $-147
300 Natural Resources and Environment $30,694
350 Agriculture $15,439
370 Commerce and Housing Credit $5,265
400 Transportation $64,627
450 Community and Regional Development $15,820
500 Education, Training, Employment and Social Services $87,974
550 Health $240,122
570 Medicare $269,360
600 Income Security $333,059
650 Social Security $495,548
700 Veterans Benefits and Services $59,746
750 Administration of Justice $45,576
800 General Government $22,338
900 Net Interest $160,245
920 Allowances $ -
950 Undistributed Offsetting Receipts $-58,537
Total $2,292,841

References[edit]

  1. ^ "Congressional Record - S1867" (PDF). Government Publishing Office. Retrieved March 20, 2015. 
  2. ^ a b c "The Budget for Fiscal Year 2004" (PDF). 2004 Budget Summary Tables. Government Publishing Office. Retrieved October 8, 2015. 
  3. ^ a b c "The Budget for Fiscal Year 2006" (PDF). 2006 Historical Tables. Government Publishing Office. Retrieved October 8, 2015. 
  4. ^ a b c d "Table 1.2—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–) AS PERCENTAGES OF GDP: 1930–2020" (PDF). Government Publishing Office. Retrieved October 28, 2015. 
  5. ^ "Fiscal Year 2016 Budget Historical Tables" (PDF). Office of Management and Budget. Retrieved October 28, 2015. 
  6. ^ "2004 Public Budget Database". Fiscal Year 2004 Public Budget Database. United States Office of Management and Budget. Receipts: Public Budget Database. Retrieved March 15, 2015. 
  7. ^ "2006 Public Budget Database". Fiscal Year 2006 Public Budget Database. United States Office of Management and Budget. Receipts: Public Budget Database. Retrieved March 15, 2015. 

External links[edit]