The Budget: Nitty-Gritty Details
You thought the budget was just thousands of pages of dry numbers? Well, it is. But you're reading this anyway, so you must be interested. Below, you'll find where the money comes from, and where it goes, a breakdown of tax receipts and some budget history.
Where the federal government gets a typical dollar and where it goes:
Income: Individual income taxes, 46 cents; Social Security, Medicare and other payroll taxes, 34 cents; corporate income taxes, 11 cents; excise taxes, 4 cents; other, 5 cents.
Spending: Direct benefit payments to individuals, 50 cents; national defense, 15 cents; grants to states and localities, 15 cents; interest 14 cents; other federal operations, 5 cents; surplus, 1 cent.
Government receipts, in billions of dollars, from President Bill Clinton's proposed fiscal 1999 budget. Figures for 1997 are actual; figures for 1998 are estimated, and figures for 1999 are proposed.
| Income Source |
1997 |
1998 |
1999 |
Individual Income Tax Corporate Income Tax Social Ins Taxes Excise Taxes Estate, Gift Tax Customs Duties Miscellaneous Total |
737.5 182.3 539.4 56.9 19.8 17.9 25.5 1,579.3 |
767.8 190.8 571.4 55.5 20.4 18.4 33.5 1,657.8 |
791.5 198.0 596.0 72.0 20.5 18.2 46.7 1,742.7 |
Source: Associated Press
The federal government in its first 112 years, 1789 through 1900, collected $15.622 billion, spent $16.543 billion and ran up a debt of $921 million.
Receipts, expenditures and surpluses or deficits in this century, with estimates for 1998 and projections in President Clinton's budget for 1999 through 2003, in millions of dollars:
| Year |
Received |
Spent |
Surplus/Deficit |
1910 1920 1930 1940 1950 1960 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 2003 |
676 6,649 4,058 6,548 39,443 92,492 192,807 517,112 1,032,000 1,453,000 1,579,000 1,658,000 1,743,000 1,794,000 1,863,000 1,949,000 2,028,000 |
694 6,358 3,320 9,468 42,562 92,191 195,649 590,947 1,253,000 1,560,000 1,601,000 1,668,000 1,733,000 1,785,000 1,834,000 1,860,000 1,945,000 |
-18 291 738 -2,920 -3,119 301 -2,842 -73,835 -221,000 -107,000 -22,000 -10,000 10,000 9,000 28,000 90,000 83,000 |
Source: Associated Press
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