United States federal budget, 2007

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The United States federal budget for fiscal year 2007 is a spending request by President George W. Bush to fund government operations for October 2006-September 2007.

1 Total Receipts
2 Total Spending
3 2007 Deficit Estimate
4 See also
5 External links

[edit] Total Receipts

Estimated receipts for fiscal year 2007 are $2.4 trillion. This expected income is broken down by the following sources:

$1.1 trillion (+12.1%) - Individual income tax
$884.1 billion (+7.4%) - Social Security and other payroll taxes
$260.6 billion (+15.5%) - Corporate income tax
$74.6 billion (-1.3%) - Excise taxes
$28.1 billion (+0.7%) - Customs duties
$23.7 billion (-9.2%) - Estate and gift taxes
$48.4 billion (+14.0%) - Other

[edit] Total Spending

Graphical representation of the Total Spending for the 2007 United States Federal Budget. Social Security, Medicare and Defense together take up over half the total Federal expenditures.

The President's budget for 2007 totals $2.8 trillion. This budget request is broken down by the following expenditures:

$586.1 billion (+7.0%) - Social Security
$466.0 billion (+4.0%) - Defense
$394.5 billion (+12.4%) - Medicare
$367.0 billion (+2.0%) - Unemployment and welfare
$276.4 billion (+2.9%) - Medicaid and other health related
$243.7 billion (+13.4%) - Interest on debt
$89.9 billion (+1.3%) - Education and training
$76.9 billion (+8.1%) - Transportation
$72.6 billion (+5.8%) - Veterans' benefits
$43.5 billion (+9.2%) - Administration of justice
$33.1 billion (+5.7%) - Natural resources and environment
$32.5 billion (-15.4%) - Foreign affairs
$27.0 billion (+3.7%) - Agriculture
$26.8 billion (+28.7%) - Community and regional development
$25.0 billion (+4.0%) - Science and technology
$20.1 billion (+11.4%) - General government
$1.1 billion (-47.6%) - Energy

[edit] 2007 Deficit Estimate

(The amount that on budget government spending exceeds on budget government receipts)

$400 billion

The amount that the government must borrow, either from the public in the form of bonds held by the Security Trust Fund, or by selling securities to other entities will add to the total public debt as of September 2006 (end of the Fiscal Year 2006), 8.5 trillion.