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).

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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). 

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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.

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