2006 United States federal budget

The United States federal budget for fiscal year 2006 is a spending request by President Bush to fund government operations for the year beginning October 1, 2006.

Total Receipts

Estimated receipts for fiscal year 2006 are $2.2 trillion. This expected income is broken down by the following sources:

*$966.9 billion (44.4%) - Individual income tax
*$818.8 billion (37.6%) - Social Security and other payroll taxes
*$220.3 billion (10.1%) - Corporate income tax
*$75.6 billion (3.5%) - Excise taxes
*$26.1 billion (1.2%) - Estate and gift taxes
*$28.3 billion (1.3%) - Customs duties
*$41.6 billion (1.9%) - Other (Including, Capital gains tax and Generation-skipping transfer tax)

Total Spending

The President's budget for 2006 totals $2.7 trillion. This budget request is broken down by the following expenditures:

*$544.8 billion (20.90%) - Social Security
*$512.1 billion (18.00%) - Defense
*$359.5 billion (13.79%) - Unemployment and welfare
*$345.7 billion (13.26%) - Medicare
*$268.4 billion (10.30%) - Medicaid and other health related
*$211.1 billion (8.10%) - Interest on debt
*$88.7 billion (3.40%) - Education and training
*$70.7 billion (2.71%) - Transportation
*$68.4 billion (2.62%) - Veterans' benefits
*$43.1 billion (1.65%) - Administration of justice
*$38.4 billion (1.47%) - Foreign affairs
*$31.2 billion (1.20%) - Natural resources and environment
*$26.0 billion (1.00%) - Agriculture
*$24.0 billion (0.92%) - Science and technology
*$19.1 billion (0.73%) - Community and regional development
*$17.8 billion (0.68%) - General government
*$23.4 billion - Energy

Adjustments

*-$698 billion (2.68%) - Undistributed offsetting receipts

2006 Deficit Estimate

(The amount that government spending exceeds total receipts)
* $500 billion

ee also

* United States budget process

External links

* [http://www.gpoaccess.gov/usbudget/browse.html "The President's Budget of the United States Government," FY 1996 -- present]