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--------------------- 2624 - GOVERNMENT - how are they spending your money?
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- TAXES COLLECTED AND GOVERNMENT SPENT:
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- The federal government collected $3.5 trillion in revenue, or $10,548 per person.
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- The federal government spent $4.4 trillion, or $13,547 per person.
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- Federal revenue grew 2% (inflation adjusted).
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- Federal spending grew 6% (inflation adjusted).
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- We spent 28% more than we collected in revenue, creating a $984 billion deficit.
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- 92% came from individual income, payroll, and corporate income taxes.
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- The federal government spent $4.4 trillion , or $13,547 per person on 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.
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- Total Revenue $3.46 trillion. Individual Income Taxes, Payroll Taxes, Corporate Income Taxes, Sales and Excise Taxes, Other………
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- Deficit: 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.
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- Federal revenue grew 2% (inflation adjusted). 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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- 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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- 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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- Debt owed to the public is debt sold in credit markets in forms including bills, notes, and treasury bonds. Private US citizens, citizens of other nations and foreign governments can all hold this debt.
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FEDERAL BUDGET 2019 $4.45 trillion. Social Security, National Defense and Veterans, Medicare, Aid to the Disadvantaged, Interest on the Debt, Transfers to States, Other Spending
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- Total Revenue $3.46 trillion. Individual Income Taxes, Payroll Taxes, Corporate Income Taxes Sales and Excise Taxes
---------------------- BUDGET DEFICIT/SURPLUS
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---------------------- 1980----------------------- $2t
---------------------- 1990---------------------- $0
---------------------- 2000---------------------- $2t
---------------------- 2010---------------------- $4t
---------------------- 2018---------------------- $6t
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---------------------- REVENUE PER CAPITA---------------------- $10.55k
---------------------- Individual income taxes--------------------------- $5.23k
---------------------- Payroll Taxes---------------------------------------- $3.77k
---------------------- Corporate income taxes------------------------------ $701
---------------------- Sales and excise taxes-------------------------------- $301
---------------------- Other Revenue----------------------------------------- $539
---------------------- SPENDING PER CAPITA--------------- $13.55k
---------------------- Social Security--------------------------------- $3.18k
---------------------- National Defense and Veterans-------------- $2.69k
---------------------- Medicare---------------------------------------- $1.98k
---------------------- Aid to The Disadvantaged-------------------- $1.03k
---------------------- Interest on the Debt---------------------------- $1.13k
---------------------- Transfers to States------------------------------ $2.20k
---------------------- Other Spending -------------------------------- $1.33k
i
DEBT BY FOREIGN ENTITY
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---------------------- 1980---------------------- $0
---------------------- 1990---------------------- $10t
---------------------- 2000---------------------- $20t
---------------------- 2010---------------------- $30t
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- Total government debt as % of GDP ---------------------------- 85.4%
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- % of federal debt held by public that is foreign owned -------- 38.85%
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- US Postal Service net profit ------------------------------------ $2.2 Billion
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- Death and Taxes two things you can not avoid.
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---------------------------- Other Reviews on Government taxes and expenditure:
-
- 2477 - How He created the Universe? When He did He left us many mysteries to solve. We say it all started with a “Big Bang“, but, that leaves us with the wrong impression. It actually started with the birth of space and time. Time started and space began expanding out of nothing. What happened next?
- 1969 - GOVERNMENT - Sweden’s new government?
- 1964 - Politics and Trump verses Putin?
- 1960 - Surviving fake new and saving democracy? How to survive the storm of daily fake news, political hacking, fraudulent elections, internet and newspaper, TV bias. Critical Thinking is the best think you can bring to the game and to the ballot box.
- 1951 - Critical thinking about US Intelligence?
- 1945 - Encryption is for everyone?
- 1943 - Supercomputers in the hands of engineers?
- 1730 - Collaborative government?
- 1655 - Government the way it was intended?
- 1640 - The state of the state of California. None of these representstives took math in college?
- 1639 - We are growing too complicated too fast?
- 1637 - Education and government?
- 1564 - The big fat liar, which president do you think that was? Fiscal Insanity?
- 1541 - Saving the American dream.
- 1556 - Better mileage but are cars safer?
- 1539 - The fiscal cliff?
- 1533 - Sustainable national debt?
- 1468 - The decline in moral management?
- 1446 - What is the next most dangerous business to get into now?
- 1445 - How can you or your children retire?
- 1440 - The top government priorities?
- 1439 - Justice was done. How bin Laden was captured and killed
- 1530 - How our divided government works?
- 1520 - Teaching the government the powers of ten?
- 1440 - The top government priorities and how they are funded?
- 1408 - California debt?
- 1387 - President’s state of he Union speech 2012?
- 1106 - When will the government stop spending?
- 1101 - Your representative is wasting your money. Sunshine is the best disinfectant.?
- 1034 - Wikileak the economy?
- 1031 - Our economy’s stimulus package?
- 987 - California’s budget?
- 970 - What voters need to do.
- 968 - What voters need to know?
- 967 - The election in 2008?
- 889 - Follow the government money?
- 785 - The democrats surrender. Leave Ben Laden and focus on global warming?
- 760 - Where taxes go?
- 743 - Government taxes and expenditures in 2008?
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- February 17, 2020 2624
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--- Some reviews are at: -------------- http://jdetrick.blogspot.com -----
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--- to: ------ jamesdetrick@comcast.net ------ “Jim Detrick” -----------
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--------------------- Monday, February 17, 2020 --------------------
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