2010 United States federal budget

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Main article: United States federal budget
2010 (2010) Budget of the United States federal government
President Barack Obama with OMB Director Peter Orszag.jpg
President Barack Obama with OMB Director Peter Orszag.
Submitted February 26, 2009 [1]
Submitted by Barack Obama
Submitted to 111th Congress
Total revenue $2.381 trillion (requested)
$2.163 trillion (actual)[2]
14.6% of GDP (actual)[3]
Total expenditures $3.552 trillion (requested)
$3.456 trillion (actual)[2]
23.4% of GDP (actual)[3]
Deficit $1.171 trillion (requested)
$1.294 trillion (actual)[4]
8.7% of GDP (actual)[3]
Debt $13.53 trillion (at fiscal end)
91.4% of GDP[5]
GDP $14.799 trillion[3]
Website Office of Management and Budget
‹ 2009
2011 ›

The United States Federal Budget for Fiscal Year 2010, titled A New Era of Responsibility: Renewing America's Promise,[6] is a spending request by President Barack Obama to fund government operations for October 2009–September 2010. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2010, which must be authorized by Congress.

The government was initially funded through two temporary continuing resolutions. Final funding for the government was enacted as an omnibus spending bill, the Consolidated Appropriations Act, 2010, on December 16, 2009.[7]

Total spending

A pie chart representing spending by category for the US budget for 2010[citation needed]

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Further information: Government spending

Incoming President Barack Obama's budget request for FY 2010 totaled $3.55 trillion and was passed by Congress on April 29, 2009. Percentages in parentheses indicate percentage changes compared to FY 2009. A breakdown of Obama's budget request includes the following expenditures:[8]

  • Mandatory spending: $2.173 trillion (+14.9%)
File:2010 Receipts & Expenditures Estimates.PNG
US receipt and expenditure estimates for fiscal year 2010.

Total revenue




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2010 Actual Receipts by Source

  Individual income tax (43.2%)
  Social Security/other payroll tax (40.4%)
  Corporate income tax (7.3%)
  Deposits of earnings and Federal Reserve System (3.6%)
  Excise tax (3.4%)
  Customs duties (1.1%)
  Estate and gift taxes (0.8%)
  Other miscellaneous receipts (0.8%)

(in billions of dollars):

Source Requested[9] Enacted[10] Actual[11]
Individual income tax 1,061 936 899
Corporate income tax 222 157 191
Social Security and other payroll tax 940 875 865
Excise tax 77 73 67
Estate and gift taxes 20 17 19
Customs duties 23 24 25
Deposits of earnings and Federal Reserve System 22 77 76
Allowance for jobs initiatives - -12 -
Other miscellaneous receipts 16 18 21
Total 2,381 2,165 2,163

Deficit

The total deficit for fiscal year 2010 was $1.293 trillion.[11]

References

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  3. ↑ 3.0 3.1 3.2 3.3 Lua error in package.lua at line 80: module 'strict' not found.
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  11. ↑ 11.0 11.1 Lua error in package.lua at line 80: module 'strict' not found.

External links

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