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Total receipts

Estimated receipts for fiscal year 2010 are $2,381 billion, an increase of 8.9%.

• $1,061 billion - Individual income taxes
• $940 billion - Social Security and other payroll tax
• $222 billion - Corporation income taxes
• $77 billion - Excise taxes
• $23 billion - Customs duties
• $20 billion - Estate and gift taxes
• $22 billion - Deposits of earnings
• $16 billion - Other

Total spending

The President’s budget for 2010 totals $3,552 billion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:

• Mandatory spending: $2,184 billion (-17.9%)
  • $695 billion (+4.9%) - Social Security
  • $453 billion (+6.6%) - Medicare
  • $290 billion (+12.0%) - Medicaid
  • $0 billion (-100%) - Troubled Asset Relief Program (TARP)
  • $0 billion (-100%) - Financial stabilization efforts
  • $11 billion (+275%) - Potential disaster costs
  • $571 billion (-15.2%) - Other mandatory programs
  • $164 billion (+18.0%) - Interest on National Debt

• Discretionary spending: $1,368 billion (+7.0%)
  • $663.7 billion (+12.7%) - Department of Defense (including Overseas Contingency Operations)
  • $78.7 billion (-1.7%) - Department of Health and Human Services
  • $72.5 billion (+2.8%) - Department of Transportation
  • $52.5 billion (+10.3%) - Department of Veterans Affairs
  • $51.7 billion (+40.9%) - Department of State and Other International Programs
  • $47.5 billion (+18.5%) - Department of Housing and Urban Development
  • $46.7 billion (+12.8%) - Department of Education
  • $42.7 billion (+1.2%) - Department of Homeland Security
  • $26.3 billion (-0.4%) - Department of Energy
  • $26.0 billion (+8.8%) - Department of Agriculture
  • $23.9 billion (-6.3%) - Department of Justice
  • $18.7 billion (+5.1%) - National Aeronautics and Space Administration
  • $13.8 billion (+48.4%) - Department of Commerce
  • $13.3 billion (+4.7%) - Department of Labor
  • $13.3 billion (+4.7%) - Department of the Treasury
  • $12.0 billion (+6.2%) - Department of the Interior
  • $10.5 billion (+34.6%) - Environmental Protection Agency
  • $9.7 billion (+10.2%) - Social Security Administration
  • $7.0 billion (+1.4%) - National Science Foundation
  • $5.1 billion (-3.8%) - Corps of Engineers
  • $5.0 billion (+100%) - National Infrastructure Bank
  • $1.1 billion (+22.2%) - Corporation for National and Community Service
  • $0.7 billion (0.0%) - Small Business Administration
  • $0.6 billion (-14.3%) - General Services Administration
  • $19.8 billion (+3.7%) - Other Agencies
  • $105 billion - Other

Deficit

With projected receipts significantly less than projected outlays, the budget proposed by President Obama predicts a net deficit of approximately $1,171.4 billion, adding to a United States governmental debt of about $6,578.9 billion.

Related Posts

• 2008 U.S. Federal Budget
• 2009 U.S. Federal Budget
• 2010 National Security budget
• Government spending has increased by more than 55% since 2000
• Socialized Spending Out of Control

Tags: corporate income tax, customs duties, estate, excise tax, federal budget, federal deficit, gift, government spending, income tax, medicaid, medicare, military, payroll tax, Social Security, social security tax, Taxes, welfare