The White House foresees a $389 billion deficit for 2008, growing to $482 billion in 2009.
In 2008, the government will take in $2.66 Trillion dollars. It will come from:
- $1.25 trillion - Individual income tax
- $927.2 billion - Social Security and other payroll taxes
- $314.9 billion - Corporate income tax
- $68.1 billion - Excise taxes
- $29.2 billion - Customs duties
- $25.7 billion - Estate and gift taxes
- $50.7 billion - Other
- Mandatory spending: $1.788 trillion (+4.2%)
- $608 billion (+4.5%) - Social Security
- $386 billion (+5.2%) - Medicare
- $209 billion (+5.6%) - Medicaid and the State Children's Health Insurance Program (SCHIP)
- $324 billion (+1.8%) - Unemployment/Welfare/Other mandatory spending
- $261 billion (+9.2%) - Interest on National Debt
- Discretionary spending: $1.114 trillion (+3.1%)
- $481.4 billion (+12.1%) - United States Department of Defense
- $145.2 billion (+45.8%) - Global War on Terror
- $69.3 billion (+0.3%) - Health and Human Services
- $56.0 billion (+0.0%) - United States Department of Education
- $39.4 billion (+18.7%) - United States Department of Veterans Affairs
- $35.2 billion (+1.4%) - US Department of Housing and Urban Development
- $35.0 billion (+22.0%) - State and Other International Programs
- $34.3 billion (+7.2%) - Department of Homeland Security
- $24.3 billion (+6.6%) - Energy
- $20.2 billion (+4.1%) - Department of Justice
- $20.2 billion (+3.1%) - Department of Agriculture
- $17.3 billion (+6.8%) - National Aeronautics and Space Administration
- $12.1 billion (+13.1%) - Department of Transportation
- $12.1 billion (+6.1%) - Department of Treasury
- $10.6 billion (+2.9%) - United States Department of the Interior
- $10.6 billion (-9.4%) - United States Department of Labor
- $51.8 billion (+9.7%) - Other On-budget Discretionary Spending
- $39.0 billion - Other Off-budget Discretionary Spending
- Look over the list. Do you agree with where the money is being spent?
- How do you feel about the overspending?
- Go to the national debt clock to see more about how much we owe due to years of overspending--click here http://zfacts.com/p/461.htm
18 comments:
i dont like us being in debt but the government has to have money to operate. i think they could and should operate smarter. but only time will tell if that ever will happen
It looks like United States is in debt alot. Why are we giving money and aid to other countries when we can hardly support ourselves?
We've been in worse debt before and came out of it.
We just need to elect someone who is willing to do that..not spend even more.
Our Government spends a lot of money on many different things we spend a lot money more than i imagined. At the rate i think we are going it look s like we will still roll father and farther into debt and we will have keep spending more money we are going to end up on a slippery slope in the words of Olson.
I think the US should be focusing on the US and spending money on us more than on others. And also focusing on the more important things.
I think we are going to have to spend more money to get out of everything, even tho we are already in so much debt. If we could find a way to stop being so dependent on other countries and worry about ourselves mostly, then we could eventually find a way out of all the debt. And i agree with shaylah that we need to elect someone who wants to change it finally!
Wow...that's a lot of money...I feel kind of ashamed that the country is so much debt, but it can only get worse before it gets better.
i think US should be gaining money liked the japan because japan is making more money then us.
That's a lot of money. Its kinda disheartening to see so much going into unemployment and the war on terror. I don't know if not spending more would help the debt problem but we need to get our priorities straight on where to spend.
I think we waste to much money on things, that we don't even need to spend money on...That's why we are in so much debt because the government loves to waste money!! We need to elect someone who is going to help us and get us out of debt, even though we might not ever be out of debt!
true our government is in debt but if the politicians would just do there job and not spend $20 on ice cube trays that you can get for $.99 at wal-mart. its little things like that, that are making this country go in debt. and quit giving money to the other countries.
thats alot of money. they could probably be spending more wise. the us should be focusing on ourselfs and not so much others
we shouldn't be in debt but if we keep spending like we are then we will be screwed we need to find a more efficient way of spending our money on like more important things
I think if the government knew how to manage their money better this country wouldn't be in so much debt. I'm sure there are places that they can cut their spending down and get their priorities straight.
We should try and worry about ourselves and supporting ourselves before other countries.
i think everyone knew that we were in debt. i mean if they paid attion they should of figured it out. we just need to elect someone to get us out of it.
it is nice to help out others but i think we should get ourselves out of debit before we start giving other people money
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