2008 United States federal budget

The United States federal budget for fiscal year 2008 was a spending request by President George W. Bush 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 taxes
*$314.9 billion - Corporate income tax
*$68.1 billion - Excise taxes
*$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%) - United States Department of Defense
**$145.2 billion (+45.8%) - Global War on Terror
**$69.3 billion (+0.3%) - Health and Human Services
**$56.0 billion (+0.0%) - United States Department of Education
**$39.4 billion (+18.7%) - United States Department of Veterans Affairs
**$35.2 billion (+1.4%) - US Department of Housing and Urban Development
**$35.0 billion (+22.0%) - State and Other International Programs
**$34.3 billion (+7.2%) - Department of Homeland Security
**$24.3 billion (+6.6%) - 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 Treasury
**$10.6 billion (+2.9%) - United States Department of the Interior
**$10.6 billion (-9.4%) - United States 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 Afghanistan war are not part of the defense budget; they are appropriations.

Deficit

With projected receipts significantly less than projected outlays, the budget proposed by President Bush predicts a net deficit of approximately 240 billion dollars, adding to a United States governmental debt of about $9 trillion.

External links

* [http://www.gpoaccess.gov/usbudget/browse.html "The President's Budget of the United States Government," FY 1996 -- present]