- 2008 United States federal budget
The United States federal budget for fiscal year 2008 was a spending request by President
George W. Bush to fund government operations for October 2007-September 2008. Figures shown in this article do not reflect the actual appropriations by Congress for Fiscal Year 2008.Total receipts
Estimated receipts for fiscal year 2008 were $2.66 trillion.
*$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 andgift tax es
*$50.7 billion - OtherTotal spending
The President's budget for 2008 totals $2.9 trillion. Percentages in parentheses indicate percentage change compared to 2007. This budget request is broken down by the following expenditures:
*Mandatory spending: $1.788 trillion (+4.2%)
**$608 billion (+4.5%) - Social Security
**$386 billion (+5.2%) - Medicare
**$209 billion (+5.6%) -Medicaid and theState 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 SpendingThe Iraq war and the Afghanistan war are not part of the defense budget; they are appropriations.
Deficit
With projected receipts significantly less than projected outlays, the budget proposed by President Bush predicts a net
deficit of approximately 240 billion dollars, adding to a United States governmental debt of about $9 trillion.External links
* [http://www.gpoaccess.gov/usbudget/browse.html "The President's Budget of the United States Government," FY 1996 -- present]
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