How much money did the federal government spend in 2013?
2013 United States federal budget
| Submitted | February 13, 2012 |
|---|---|
| Total expenditures | $3.803 trillion (requested) $3.45 trillion (actual) 20.8% of GDP (actual) |
| Deficit | $901 billion (requested) 5.5% of GDP $680 billion (actual) 4.1% of GDP (actual) |
| Debt | $16.72 trillion (at fiscal end) 100.8% of GDP |
| GDP | $16.582 trillion |
What was the federal budget deficit in 2013?
$680 billion
The federal government incurred a budget deficit of $680 billion in fiscal year 2013, which was $409 billion less than the deficit in fiscal year 2012. The fiscal year that just ended marked the first since 2008 that the deficit was under $1 trillion.
What was Canada’s deficit in 2013?
2013 Canadian federal budget
| Presented | 21 March 2013 |
|---|---|
| Total expenditures | 282.6 billion (Projected) 279.7 billion (Actual) |
| Deficit | 18.9 billion (Projected) 8.1 billion (Actual) |
| Website | http://www.budget.gc.ca/2013/doc/plan/toc-tdm-eng.html |
| ‹ 2012 2014 › |
Which of the following accounted for the highest percentage of federal government spending in 2013?
Social Security is the largest federal spending program and has held this position since surpassing defense in 1993.
What are the deficits for 2012?
The Obama administration’s budget request contained $2.627 trillion in revenues and $3.729 trillion in outlays (expenditures) for 2012, for a deficit of $1.101 trillion.
Is there a federal budget for 2021?
The United States federal budget for fiscal year 2021 runs from October 1, 2020 to September 30, 2021. The final funding package was passed as a consolidated spending bill on December 27, 2020, the Consolidated Appropriations Act, 2021. …
Where did most of the government’s income come from?
Most of the revenue the government collects comes from contributions from individual taxpayers, small businesses, and corporations through taxes that get collected on a yearly or quarterly basis. The remaining sources of federal revenue consist of excise, estate, and other taxes and fees.
When was the last government surplus?
2001
The last surplus for the federal government was in 2001. A balanced budget occurs when the amount the government spends equals the amount the government collects.
What was Canada’s national debt in 1968?
1968 Canadian federal budget
| Presented | October 22, 1968 |
|---|---|
| Total revenue | 12.320 Billion |
| Total expenditures | 12.987 Billion |
| Deficit | $667 million |
| ‹ 1967 1969 › |
How much did the government spend in 2017?
2017 United States federal budget
| Submitted | February 9, 2016 |
|---|---|
| Total expenditures | $4.147 trillion (requested) $3.982 trillion (actual) 20.8% of GDP |
| Deficit | $503 billion (requested) $665 billion (actual) 3.5% of GDP |
| Debt | $20.24 trillion (actual) 105.5% of GDP |
| GDP | $19.177 trillion (actual) |
What was the federal budget for FY 2013?
Total Spending. The OMB estimated the Federal government would spend $3.803 trillion by the end of FY 2013. Instead, the cuts from sequestration kicked in, and only $3.455 was spent. Since government spending is a component of GDP, these spending cuts slow economic growth.
How much does the federal government spend each year?
US Federal Budgetary Spending by Year Year Revenue Spending Surplus/Deficit (-) 2020 (Estimate) $2,695.492 $3,777.890 -$1,082.398 2021 (Estimate) $2,873.530 $3,916.373 -$1,042.843 2022 (Estimate) $3,069.893 $4,082.275 -$1,012.382 2023 (Estimate) $3,308.108 $4,165.271 -$857.163
What was the defense budget cut in 2013?
The FY2013 defense budget would be reduced 11%, from $525 billion to $472 billion, after already having been cut from $571 billion in the first installment of cuts in the Budget Control Act. Secretary of Defense Leon Panetta initially gave the total cut figure as 23%. [34]
How much of the federal budget is discretionary?
Just over a third of spending, or $1.147 trillion, went toward discretionary programs. Even without sequestration, this is significantly lower than in prior years, when around 40% of the budget was discretionary. That’s important because it’s the only portion of the budget that the President and Congress can negotiate each year.