[PDF] president's budget 2020

What is in the US budget for 2020?

The Budget Components and Impact on the US Economy. On March 11, 2019, President Donald Trump released his budget request for fiscal year 2020. Under his proposal, the federal budget would be a record $4.746 trillion. The U.S. government estimates it will receive $3.645 trillion in revenue.

What is Biden's budget for FY 2022?

President Biden’s budget for FY 2022 totals $6.011 trillion, eclipsing all other previous budgets. Mandatory expenditures, such as Social Security, Medicare, and the Supplemental Nutrition Assistance Program, account for about 65% of the budget. Budget expenditures exceed federal revenues by $1.873 trillion for FY 2022.

How much will the government spend in 2022?

The government expects to spend $6.011 trillion in 2022. 1 More than 65% of that pays for mandated benefits such as Social Security, Medicare, and Medicaid. Discretionary spending, which pays for everything else, will be $1.688 trillion. The U.S. Congress appropriates this amount each year, using the president's budget as a starting point.

How much revenue will the US government receive in 2020?

The U.S. government estimates it will receive $3.645 trillion in revenue. That creates a $1.101 trillion deficit for October 1, 2019, through September 30, 2020. To fund the government, Congress must pass appropriations bills before the fiscal year begins on October 1, 2019.