- Overview
- Revenues
- Spending
- Debt
GDP: $17 T
Total Receipts: $3.21 T
Total Outlays: $3.65 T
Total Surplus or Deficit as Percentage of GDP: -2.6%
* Note: Budget estimates are based on projections from the Obama Administration. To the extent feasible, the data have been adjusted using chained 2009 GDP to provide consistency with the 2015 Budget and to provide comparability over time.
Overview
2017 Key Facts
The U.S. government is estimated to collect $3.21 T in tax revenues and spend a total of $3.65 T in its 2017 budget, resulting in a deficit of $443 B. The deficit is expected to be 2.6% of its total estimated GDP of $17 T that year.
All numbers are adjusted for inflation.
Presidential Administration
Donald Trump's estimated deficit of -2.6% of GDP in 2017 is close to the average of his administration average of -2.5% when compared to other years in his administration. On average, the budget deficit was smaller during the Trump Administration than in other presidential administrations (average = -3.1%).
Budget over Time
Outlays: Outlays (or expenditures) are money paid out by the U.S. Treasury; they occur when obligations are actually paid off, primarily by issuing checks or making electronic fund transfers.
In order to have a balanced budget, a budget's receipts must equal or exceed its outlays.
Surplus/Deficit over Time
Revenues
Total
- Income from individual income taxes in 2017 is estimated to be about 49% of all receipts that year. This is far greater than average when compared to receipts from other years (average proportion = 45%). Income tax is levied on over 100 million American households each year.
- Payroll tax income is estimated to be about 31% of all receipts that year. This is greater than average when compared to receipts from other years (average proportion = 30%). Payroll taxes are taxes that employers are required to pay when they pay their staff their salaries.
- Corporate income taxes are estimated to make up 11% of all receipts that year. This is less than average when compared to receipts from other years (average proportion = 14%). Corporate income tax is imposed at the federal level on all entities treated as corporations.
Spending
By Program
- Spending on Social Security, unemployment, and labor is estimated to be about 36% of all outlays in 2017. This is greater than average when compared to budgets from other years. (Average proportion = 35%)
- Medicare and general health spending is estimated to be about 28% of all outlays that year. This is one of the highest proportions spent when compared to budgets from other years. (Average proportion = 14%)
- Spending on national defense is estimated to be about 15% of all outlays that year. This is less than average when compared to budgets from other years. (Average proportion = 22%)
- As for spending on net interest, the government estimates it will dedicate about 7% of all its outlays that year to paying down its accumulated debt. This is less than average when compared to budgets from other years. (Average proportion = 8%)
- All other programs (agriculture, energy, commerce and housing credit, community and regional development, etc.) in 2017 are estimated to make up approximately 14% of national spending.
By Agency
| Department or Agency | Outlays |
|---|---|
| Dept. of Agriculture | $133 billion USD |
| Dept. of Commerce | $9.28 billion USD |
| Dept. of Defense - Military Programs | $516 billion USD |
| Dept. of Education | $60.2 billion USD |
| Dept. of Energy | $26.7 billion USD |
| Dept. of Health and Human Services | $1.01 trillion USD |
| Dept. of Homeland Security | $42 billion USD |
| Dept. of Housing and Urban Development | $35.8 billion USD |
| Dept. of the Interior | $13.2 billion USD |
| Dept. of Justice | $31 billion USD |
| Dept. of Labor | $44.8 billion USD |
| Dept. of State | $25.4 billion USD |
| Dept. of Transportation | $75.5 billion USD |
| Dept. of the Treasury | $544 billion USD |
| Dept. of Veterans Affairs | $159 billion USD |
| Environmental Protection Agency | $7.65 billion USD |
| General Services Administration | $1.13 billion USD |
| International Assistance Programs | $23.3 billion USD |
| NASA | $16.9 billion USD |
| Social Security Administration | $908 billion USD |
| Other Departments and Agencies | $182 billion USD |
| $4.29 billion USD | |
| $6.82 billion USD | |
| $5.86 billion USD | |
| $52.2 billion USD | |
| $360 million USD | |
| $6.18 billion USD | |
| $84.6 billion USD | |
| $845 million USD | |
| $20.7 billion USD | |
| Allowances | $12.1 billion USD |
| Undistributed Offsetting Receipts | -$225 billion USD |
Mandatory vs. Discretionary Spending
*Note: Negative amounts for "Other Mandatory Programs" may be due to offsetting collections resulting from business-like transactions or market-oriented activities with the public and other government accounts. These collections are credited directly to expenditure accounts and deducted from gross budget authority and outlays of the expenditure account, rather than added to receipts.
InsideGov is a government research site that uses Graphiq’s semantic technology to deliver deep insights via data-driven articles, visualizations and research tools.
Debt
2017 Key Facts
The federal debt – also referred to as the national debt – is the sum of all past deficits, minus the amount the federal government has since repaid. Every year in which the government runs a deficit, the money it borrows is added to the federal debt. If the government runs a surplus, it uses the extra money to pay down some of its debt.
In 2017, the government is estimated to have a total debt of $17.7 T. At 104.4% of GDP, this percentage is extremely high when compared to other years (avg. 59.0%).
All numbers are adjusted for inflation.
Debt Over Time
References
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