July 19, 2011

2008 United States Federal Budget (Proposal). I'm Sharing This Info With You So That You Have A General Idea Of How Our Federal Government Manages The Public's Checkbook.

2008 United States Federal Budget
[source: wikipedia]

The United States federal budget for fiscal year 2008 was a spending request by President George W. Bush budget (proposal) to fund government operations for October 2007-September 2008. Figures shown in this article do not reflect the actual appropriations by Congress for Fiscal Year 2008.

Total receipts

Estimated receipts for fiscal year 2008 were $2.66 trillion.

  • $1.25 trillion - Individual income tax
  • $927.2 billion - Social Security and other payroll tax
  • $314.9 billion - Corporate income tax
  • $68.1 billion - Excise tax
  • $29.2 billion - Customs duties
  • $25.7 billion - Estate and gift taxes
  • $50.7 billion - Other
Total spending

The President's budget for 2008 totals $2.9 trillion. Percentages in parentheses indicate percentage change compared to 2007. This budget request is broken down by the following expenditures:

Mandatory spending: $1.788 trillion (+4.2%)
  • $608 billion (+4.5%) - Social Security
  • $386 billion (+5.2%) - Medicare
  • $209 billion (+5.6%) - Medicaid and the State Children's Health Insurance Program (SCHIP)
  • $324 billion (+1.8%) - Unemployment/Welfare/Other mandatory spending
  • $261 billion (+9.2%) - Interest on National Debt
  • Discretionary spending: $1.114 trillion (+3.1%)
  • $481.4 billion (+12.1%) - Department of Defense
  • $145.2 billion (+45.8%) - Global War on Terror
  • $69.3 billion (+0.3%) - Department of Health and Human Services
  • $56.0 billion (+0.0%) - Department of Education
  • $39.4 billion (+18.7%) - Department of Veterans Affairs
  • $35.2 billion (+1.4%) - Department of Housing and Urban Development
  • $35.0 billion (+22.0%) - Department of State and Other International Programs
  • $34.3 billion (+7.2%) - Department of Homeland Security
  • $24.3 billion (+6.6%) - Department of Energy
  • $20.2 billion (+4.1%) - Department of Justice
  • $20.2 billion (+3.1%) - Department of Agriculture
  • $17.3 billion (+6.8%) - National Aeronautics and Space Administration
  • $12.1 billion (+13.1%) - Department of Transportation
  • $12.1 billion (+6.1%) - Department of the Treasury
  • $10.6 billion (+2.9%) - Department of the Interior
  • $10.6 billion (-9.4%) - Department of Labor
  • $51.8 billion (+9.7%) - Other On-budget Discretionary Spending
  • $39.0 billion - Other Off-budget Discretionary Spending
The Iraq War and the War in Afghanistan are not included in the regular budget. Instead they are funded through special appropriations.

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