FY2023 federal spending
In fiscal year 2023 the US federal government took in $4.44T and spent $6.13T, leaving a deficit of $1.70T financed by borrowing.
That is 22.9% of GDP in spending and 16.6% of GDP in revenue, or $18,312/person spent and $13,252/person collected for every one of the roughly 335 million people in the country. The deficit works out to $5,060/person (6.3% of GDP).
Where the money came from
Receipts by source, from the Treasury Monthly Treasury Statement. Borrowing covers the remaining $1.70T of FY2023 spending.
| Revenue source | Receipts | Share of receipts |
|---|---|---|
| Individual income tax Taxes on wages, salaries, investments. | $2.18T | 49.0% |
| Payroll taxes Social Security, Medicare, unemployment insurance. | $1.61T | 36.4% |
| Corporate income tax Tax on corporate profits. | $420B | 9.5% |
| Customs duties Tariffs on imported goods. | $80B | 1.8% |
| Excise taxes Fuel, tobacco, alcohol, airline-ticket taxes. | $76B | 1.7% |
| Fed. Reserve & other Federal Reserve remittances, fees, fines, misc receipts. | $39B | 0.9% |
| Estate & gift tax Tax on large inheritances and gifts. | $34B | 0.8% |
Where the money went
Outlays are cash paid out during the year; obligations are commitments made during the year. Agency names link to a fuller breakdown by federal account. More on the difference.
| Agency | Outlays | Obligations | Share of outlays |
|---|---|---|---|
| Health & Human Services | $1.71T | $2.48T | 27.9% |
| Social Security Admin. | $1.42T | $1.51T | 23.1% |
| Treasury | $1.11T | $1.64T | 18.0% |
| Defense | $776B | $1.33T | 12.6% |
| Veterans Affairs | $301B | $324B | 4.9% |
| Agriculture | $229B | $297B | 3.7% |
| Fed. retirement (OPM) | $123B | $234B | 2.0% |
| Transportation | $110B | $139B | 1.8% |
| All other agencies | $106B | $152B | 1.7% |
| Homeland Security | $89B | $134B | 1.5% |
| Labor | $88B | $58B | 1.4% |
| Housing & Urban Dev. | $55B | $85B | 0.9% |
| Energy | $34B | $72B | 0.6% |
| State | $33B | $52B | 0.5% |
| Education | $-41.1B | $255B | -0.7% |
Notes
- Revenue → agency flows are pro-rata: federal money is fungible.
Every figure on this page is in US dollars. Read the data documentation for the underlying JSON, the units, and the known gaps.