No results found

We're sorry, but there are no results that match your search criteria. Try checking your spelling or using alternate search terms.

We add new data to USAFacts all the time; you can subscribe to our newsletter to get unbiased, data-driven insights sent to your inbox weekly, no searching required.

Subscribe to our newsletter

Get unbiased, data-driven insights sent to your inbox weekly. To learn more, explore our newsletter archive.

Topics

Subscribe to our newsletter

Get unbiased, data-driven insights sent to your inbox weekly. To learn more, explore our newsletter archive.

Home / Reports / 2020 State of the Union / Budget

Budget

The federal government collected $3.5 trillion in revenue in 2019, or $10,548 per person.

Ninety-two percent came from individual income, payroll, and corporate income taxes.

Budget

The federal government spent $4.4 trillion in 2019, or $13,547 per person.

Medicare, Social Security, defense and veterans, debt interest, and assistance programs including food stamps and Medicaid accounted for 86% of spending. This includes funding distributed to states.

Since 2000, state and local governments have accounted for an average of 46% of total government spending. A quarter of that spending is with funds transferred from the federal government.

Budget

Federal revenue grew 2% (inflation adjusted) in 2019.

This is the first increase since 2015 and is equivalent to 16% of GDP (lower than the 17% annual average since 1980).

Budget

Federal spending grew 6% (inflation adjusted) in 2019.

This is the largest spending increase outside of recession years in the last two decades and is equivalent to 21% of GDP (higher than the 20% annual average since 1980). 

Budget

We spent 28% more than we collected in revenue, creating a $984 billion deficit.

The federal debt grew to $22.7 trillion, $16.8 trillion of which is owed to the public.

Continue exploring the State of the Union (2020)

Explore more of USAFacts