Page 115 - Individual Forms & Instructions Guide

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Major Categories of Federal Income and Outlays for Fiscal Year 2021

Income and Outlays. These pie charts show the relative sizes of the major categories of federal income and outlays for scal year 2021.
Income Outlays*
Net
Law Physical,
Social security, Medicare, Personal income Social security, interest human, and
and unemployment and other taxes Medicare, and other enforcement on the community
and general
retirement taxes 30% retirement 1 government debt development 3
19% 29% 5%
5% 13%

Excise, customs, National defense,
Corporate estate, gift, and Social
Borrowing to income taxes veterans, and foreign programs 4
2
cover de cit 5% miscellaneous taxes affairs 33%
41% 5% 15%
*Numbers may not total to 100% due to rounding.

On or before the first Monday in February 30, 2021), federal income was $4.047 tril- countries and the maintenance of U.S.
of each year, the President is required by lion and outlays were $6.882 trillion, embassies abroad.
law to submit to the Congress a budget leaving a deficit of $2.775 trillion. 3. Physical, human, and communi-
proposal for the fiscal year that begins the ty development: These outlays were for
following October. The budget plan sets Footnotes for Certain Federal agriculture; natural resources; environ-
forth the President's proposed receipts, Outlays ment; transportation; aid for elementary
spending, and the surplus or deficit for and secondary education and direct assis-
the federal government. The plan includes tance to college students; job training; de-
recommendations for new legislation as 1. Social security, Medicare, and posit insurance, commerce and housing
well as recommendations to change, elim- other retirement: These programs pro- credit, and community development; and
inate, and add programs. After receipt of vide income support for the retired and space, energy, and general science pro-
the President's proposal, the Congress re- disabled and medical care for the elderly. grams.
views the proposal and makes changes. It 2. National defense, veterans, and 4. Social programs: About 22% of
first passes a budget resolution setting its foreign affairs: About 11% of outlays total outlays were for Medicaid, Supple-
own targets for receipts, outlays, and sur- were to equip, modernize, and pay our mental Nutrition Assistance Program
plus or deficit. Next, individual spending armed forces and to fund national defense (formerly food stamps), temporary assis-
and revenue bills that are consistent with activities; about 3% were for veterans tance for needy families, supplemental se-
the goals of the budget resolution are benefits and services; and about 1% were curity income, and related programs; and
enacted. for international activities, including mili- 11% for health research and public health
In fiscal year 2021 (which began on tary and economic assistance to foreign programs, unemployment compensation,
October 1, 2020, and ended on September assisted housing, and social services.

Note. The percentages shown here exclude undistributed offsetting receipts, which were $124 billion in fiscal year 2021. In the budget, these receipts are offset against spending in figuring the outlay totals shown above.
These receipts are for the U.S. Government's share of its employee retirement programs, rents and royalties on the Outer Continental Shelf, and proceeds from the sale of assets.

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