On February 13, the President Obama submitted his proposed budget for the federal government’s upcoming fiscal year (FY2013), which runs October 1, 2013 through September 30, 2014. After cutting out the hype, rhetoric, and commentary, what is left? Here are the facts.

BUDGET BREAKDOWN: BY THE NUMBERS

Spending

2013: $3.803 trillion ($3.796 trillion in 2012)
5 Year: $20.607 trillion in the next five years

Revenue

2013: $2.902 trillion ($2.469 trillion in 2012)
5 Year: $17.167 trillion

Deficit

2013: $901 billion ($1.327 trillion in 2012)
5 Year: $3.440 trillion

Increase in federal debt

2013: $1.197 trillion ($1.587 trillion in 2012)
5 Year: $4.975 trillion1

FEDERAL DEBT NUMBERS

Today: $15.354 trillion2
2013: $17,547,9363
5
5 Years from Now: $21,325,493
Increase of Debt Per Household: $43,546.764

WHERE DOES IT ALL GO?

Mandatory (required by law): 

Total: $2.293 trillion
$ Social Security: $820 billion

            $  Medicare: $523 billion

            $  Medicaid: $282 billion

Discretionary (funded by Congressional appropriations): 6

Total: $1.261 trillion

            $  Defense: $693 billion

            $  International Affairs: $58 billion

            $  Natural Resources: $38 billion

            $  Agriculture: $6 billion

            $  Science, Space, and Technology: $31 billion

            $  Energy: $10 billion

            $  Transportation: $38 billion

            $  Education: $93 billion

 

Be sure to check out our fact sheet, The Budget Process or Why We Have a Budget for more information. 

 

To view this post as a .pdf, click here.

 

1 Future debt totals taken from: White House President’s FY13 Budget. Historical Table 7.1. http://www.whitehouse.gov/omb/budget/Historicals

2 Treasury Direct: Debt to the Penny. February 13, 2012. http://www.savingsbonds.gov/NP/BPDLogin?application=np

3 Calculated by subtracting totals from former fiscal years. White House President’s FY13 Budget. Historical Tables 1.1 and 7.1. http:// www.whitehouse.gov/omb/budget/Historicals

4 Calculated by dividing total increased debt fiscal years 2013-2017 ($4,974,608 million) by total U.S. households (114.235996 million) and subtracting that total from today’s debt per household. U.S. Census Bureau. Accessed February 13, 2012. http://quickfacts.census.gov/qfd/states/ 00000.html 


5 White House President’s FY13 Budget. Historical Table 8.5. http://www.whitehouse.gov/omb/budget/Historicals

6 White House President’s FY13 Budget. Historical Table 8.7. http://www.whitehouse.gov/omb/budget/Historicals