What the US is Borrowing Money For
Estimated Allocation (in $ Bils)
FY 2023
| Revenue* | Total | Mandatory | Interest | Discretionary | % |
| Individual Income Taxes | 2,122 | 1,433 | 678 | 11 | 47.5% |
| Payroll Taxes (Social Security & Medicare) | 1,591 | 1,591 | 35.6% | ||
| Corporate Income Taxes | 368 | 368 | 8.2% | ||
| Excise Taxes | 94 | 94 | 2.1% | ||
| Unemployment Taxes | 47 | 40 | 1.1% | ||
| Custom Duties | 78 | 78 | 1.8% | ||
| All Other | 165 | 165 | 3.8% | ||
| Total Revenue* | 4,466 | 3,024 | 678 | 764 | 100% |
| Spending | Total | Mandatory | Interest | Discretionary | % |
| Dept of Health and Human Services | 1,817 | 1,491 | 326 | 23.1% | |
| Dept. of Veterans Affairs | 1,455 | 1,455 | 18.5% | ||
| Social Security Administration | 1,433 | 1,433 | 18.2% | ||
| Dept of Defense | 1,003 | 100 | 903 | 12.7% | |
| Interest | 678 | 678 | 8.6% | ||
| Dept of Treasury | 303 | 303 | 3.8% | ||
| Dept. of Argiculture | 226 | 226 | 2.9% | ||
| Office of Personnel Management | 206 | 206 | 2.6% | ||
| Dept of Transportation | 106 | 106 | 1.3% | ||
| Dept. Of Homeland Security | 96 | 96.6 | 1.2% | ||
| Dept. of Energy | 75 | 75 | 1.0% | ||
| Dept. of Housing and Urban Development | 67 | 67 | 0.9% | ||
| Other | 416 | 416 | 5.3% | ||
| Total Spending | 7,883 | 3,024 | 678 | 4,181 | 100% |
| 2019 Deficit | -3,417 | 0 | 0 | -3,417 |
* Note: Components are not specifically allocated in the Statement of Net Costs. The above allocations are estimates assuming mandatory entitlement spending is covered first then interest and the remiander is applied towards Discretionary Spending. The breakdown of the costs for each line item was not available at the time the chart was updated.
Sources: The Financial Report of the United States Government for FY 2023, USGovernmentSpending.com, The Balance, National Priorities and Wikipedia