What the US is Borrowing Money For
Estimated Allocation (in $ Bils)
FY 2019
Revenue* | Total | Mandatory | Interest | Discretionary | % |
Individual Income Taxes | 1,717 | 1,168 | 380 | 169 | 49.6% |
Payroll Taxes (Social Security & Medicare) | 1,242 | 1,242 | 35.9% | ||
Corporate Income Taxes | 230 | 230 | 6.6% | ||
Transportation Taxes | 59 | 59 | 1.7% | ||
Excise Taxes | 40 | 40 | 1.2% | ||
Custom Duties | 71 | 71 | 02.1% | ||
Other | 103 | 103 | 3.0% | ||
Total Revenue* | 3,462 | 2,410 | 380 | 672 | 100% |
Spending | Total | Mandatory | Interest | Discretionary | % |
Social Security, Pensions, Sickness, Disability | 1,100 | 1,100 | 24.7% | ||
Medicare & Healthcare | 1,200 | 1,200 | 27.0% | ||
Defense, Military and Economic Aid | 690 | 10 | 680 | 15.5% | |
Veteran's Benefits | 200 | 100 | 100 | 4.5% | |
Interest | 380 | 380 | 8.5% | ||
Welfare | 370 | 370 | 8.3% | ||
Transportation | 100 | 100 | 2.2% | ||
Community Development | 30 | 30 | 0.7% | ||
Education | 150 | 150 | 3.4% | ||
Government | 50 | 50 | 1.1% | ||
Protection | 40 | 40 | 0.9% | ||
Agriculture, forestry, fishing | 50 | 50 | 1.1% | ||
Other | 84 | 84 | 1.9% | ||
Total Spending | 4,445 | 2,410 | 380 | 1,654 | 100% |
2019 Deficit | -983 | 0 | 0 | -983 |
* Note: Revenue components are not specifically allocated in the budget. The above allocations are estimates assuming mandatory entitlement spending is covered first then interest and the remiander is applied towards Discretionary Spending. $256 Bil. of the amounts listed in Discretionary Spending are for Mandatory Spending in certain line items. The breakdown of how much for each line item was not available at the time the chart was updated.
Sources: USGovernmentSpending.com, The Balance, National Priorities and Wikipedia