United States federal budget

In fiscal year 2015, the federal budget is $3.8 trillion. These trillions of dollars make up about 21 percent of the U.S. economy (as measured by Gross Domestic Product, or GDP).

United States federal budget
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Fiscal Year 2014 U.S. Federal Spending – Cash or Budget Basis.

Fiscal Year 2014 U.S. Federal Receipts.
The Budget of the United States Government often begins as the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1 and ending on September 30 of the year following. The fiscal year is named for the year in which it ends. However, Congress is the body required by law to pass appropriations annually and to submit funding bills passed by both houses to the President for signature. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs.

If Congress fails to pass an annual budget, a series of Appropriations bills must be passed as "stop gap" measures. After Congress approves an appropriations bill, it is sent to the President, who may sign it into law, or may veto it (as he would a budget when passed by the Congress). A vetoed bill is sent back to Congress, which can pass it into law with a two-thirds majority in each chamber. Congress may also combine all or some appropriations bills into an omnibus reconciliation bill. In addition, the president may request and the Congress may pass supplemental appropriations bills or emergency supplemental appropriations bills.


Several government agencies provide budget data and analysis. These include the Government Accountability Office (GAO), Congressional Budget Office, the Office of Management and Budget (OMB) and the U.S. Treasury Department. These agencies have reported that the federal government is facing a series of important long-run financing challenges, primarily driven by an aging population and spending for healthcare programs such as Medicare and Medicaid. In the short-term, the annual deficit returned to its historical average relative to the size of the economy in fiscal year 2014 (around 3% GDP) and is projected to remain around that level until 2019 before slowly rising.[1][2]



Total outlays in recent budget submissions[edit]

Annual U.S. spending 1930-2014 alongside U.S. GDP for comparison.
2015 United States federal budget – (submitted 2014 by President Obama)
2014 United States federal budget – $3.5 trillion (submitted 2013 by President Obama)
2013 United States federal budget – $3.8 trillion (submitted 2012 by President Obama)[102]
2012 United States federal budget – $3.7 trillion (submitted 2011 by President Obama)
2011 United States federal budget – $3.8 trillion (submitted 2010 by President Obama)
2010 United States federal budget – $3.6 trillion (submitted 2009 by President Obama)
2009 United States federal budget – $3.1 trillion (submitted 2008 by President Bush)
2008 United States federal budget – $2.9 trillion (submitted 2007 by President Bush)
2007 United States federal budget – $2.8 trillion (submitted 2006 by President Bush)
2006 United States federal budget – $2.7 trillion (submitted 2005 by President Bush)
2005 United States federal budget – $2.4 trillion (submitted 2004 by President Bush)
2004 United States federal budget – $2.3 trillion (submitted 2003 by President Bush)
2003 United States federal budget – $2.2 trillion (submitted 2002 by President Bush)
2002 United States federal budget – $2.0 trillion (submitted 2001 by President Bush)
2001 United States federal budget – $1.9 trillion (submitted 2000 by President Clinton)
2000 United States federal budget – $1.8 trillion (submitted 1999 by President Clinton)
1999 United States federal budget – $1.7 trillion (submitted 1998 by President Clinton)
1998 United States federal budget – $1.7 trillion (submitted 1997 by President Clinton)
1997 United States federal budget – $1.6 trillion (submitted 1996 by President Clinton)

1996 United States federal budget – $1.6 trillion (submitted 1995 by President Clinton)