How much revenue did the government get in 2014?
U.S. Tax Revenue by Year
| Fiscal Year | Revenue |
|---|---|
| FY 2015 | $3.25 trillion |
| FY 2014 | $3.02 trillion |
| FY 2013 | $2.77 trillion |
| FY 2012 | $2.45 trillion |
What was the national debt in 2016?
The ratio is higher if the total national debt is used, by adding the “intragovernmental debt” to the “debt held by the public.” For example, on April 29, 2016, debt held by the public was approximately $13.84 trillion or about 76% of GDP.
How much is the federal budget 2014?
2014 United States federal budget
| Submitted | April 10, 2013 |
|---|---|
| Total expenditures | $3.77 trillion (requested) $3.506 trillion (actual) 20.3% of GDP (actual) |
| Deficit | $744 billion (requested) 4.4% of GDP (requested) $484.6 billion (actual) 2.8% of GDP (actual) |
| Debt | $17.79 trillion (at fiscal end) 103.2% of GDP |
| GDP | $17.244 trillion |
In what years did the US run a budget surplus?
According to the Congressional Budget Office, the United States last had a budget surplus during fiscal year 2001. From fiscal years 2001 to 2009, spending increased by 6.5% of gross domestic product (from 18.2% to 24.7%) while taxes declined by 4.7% of GDP (from 19.5% to 14.8%).
What year did the US go into debt?
The U.S. government first found itself in debt in 1790, following the Revolutionary War. 8 Since then, the debt has been fueled over the centuries by more war and by economic recession.
When did the 2014 federal budget come out?
Office of Management and Budget. The 2014 United States federal budget is the budget to fund government operations for the fiscal year (FY) 2014, which began on October 1, 2013 and ended on September 30, 2014.
What was the federal budget for fiscal year 2019?
In Fiscal Year 2019, the federal budget will be $4.407 trillion. The U.S. government estimates it will receive $3.422 trillion in revenue.
When does Congress begin work on the federal budget?
Every year, Congress begins work on a federal budget for the next fiscal year. The federal government’s fiscal year runs from October 1 of one calendar year through September 30 of the next.
Why was there a budget debate in 2014?
At the time the fiscal year 2014 budget was debated, budgeting issues were controversial. Government spending had recently been limited by an automatic sequestration process that resulted when Congress and President Obama failed to meet spending reduction targets set by the Budget Control Act of 2011.