how much money does the government spend a year?
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In fiscal year 2015, the federal budget is $3.8 trillion. These trillions of dollars make up about 21 percent of the U.S. economy (as measured by Gross Domestic Product, or GDP). It's also about $12,000 for every woman, man and child in the United States.
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The data are presented by type of service, sources of funding, and type of sponsor. U.S. health care spending grew 4.6 percent in 2018, reaching $3.6 trillion or $11,172 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.7 percent.
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NASA's budget for fiscal year (FY) 2020 is $22.6 billion. It represents 0.48% of the $4.7 trillion the United States plans to spend in the fiscal year.
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Why Military Spending Is More Than You Think It Is Estimated U.S. military spending is $934 billion. It covers the period October 1, 2020, through September 30, 2021. 1﻿ Military spending is the second-largest item in the federal budget after Social Security.
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The federal budget for the 2020 fiscal year was set at $4.79 trillion.
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But after 9/11 the government increased defence spending, year on year, reaching £45 billion in 2011. In 2017 and 2018 defence spending has started to increase. For the year ending March 2019 defence spending was £49.7 billion.
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The government spends money on: Social Security, Medicare, and other mandatory spending required by law. Interest on the debt--the total the government owes on all past borrowing. Discretionary spending, the amount Congress sets annually for all other programs and agencies.
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In 2019 the United States spent around 718.69 billion U.S. dollars on its military. This figure is a decrease from 2010, when U.S. military spending amounted to 849.87 billion U.S. dollars (when adjusted to 2018 dollars).
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The federal government collected revenues of $3.5 trillion in 2019—equal to about 16.3 percent of gross domestic product (GDP) (figure 2).
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The federal government spent nearly $1.2 trillion in fiscal year 2019. In addition, income tax expenditures for health care totaled $234 billion. The federal government spent nearly $1.2 trillion on health care in fiscal year 2019 (table 1).
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In 2018/19 around £115 billion was spent on the NHS England budget. The rest was spent by the Department of Health on things like public health initiatives, education, training, and infrastructure (including IT and building new hospitals).
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The government spends about $100 billion annually on corporate welfare, according to a 2012 Cato study. That amount includes direct grants and loans to companies, as well as indirect aid for industries.
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On average, Australians think we invest 16% of the Federal Budget on overseas aid, and believe that we should be spending something closer to 12%. In reality, Australia spends $4.044 billion dollars on overseas aid – that's just 0.21% of our gross national income, or 21 cents in every $100.
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CRS identified 83 overlapping federal welfare programs that together represented the single largest budget item in 2011—more than the nation spends on Social Security, Medicare, or national defense. The total amount spent on these 80-plus federal welfare programs amounts to roughly $1.03 trillion.
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The question is how much. "Medicare for All" is estimated to cost tens of trillions of dollars over a decade. Several independent studies have estimated that government spending on health care would increase dramatically, in the range of about $25 trillion to $35 trillion or more over a 10-year period.
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Unemployment insurance taxes pay for $43 billion of its cost. Contrary to popular opinion, welfare programs are not the biggest cause of government spending. Retirement and disability programs for civil servants, the Coast Guard, and the military.
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U.S. military spending/defense budget for 2018 was $648.80B, a 7.1% increase from 2017. U.S. military spending/defense budget for 2017 was $605.80B, a 0.95% increase from 2016.