Budget of the U.S. Government
How can I get a copy of the Government's Budget?
What are the ways that the Federal Government receives the revenue it uses to fund programs?
What are my tax dollars spent on every year?
 The Office of Management and Budget (OMB) publishes every year. Because it is not a Treasury Department publication, we do not have copies available for distribution. You may download a copy of the budget from the OMB website. Copies are also available for purchase from the Government Printing Office website. The website also lists Federal Depository Libraries that house copies of the budget.
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The Federal Government receives money to fund its operations from many sources. The major source of revenue is from individual income taxes. Other revenue is received through social insurance taxes and contributions, excise taxes, trust funds, estate and gift taxes, and Customs duties. Finally, the Government receives earnings from the Federal Reserve System's lending to financial institutions, fees for permits and regulatory and judicial services, and from gifts and contributions.
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The Federal Government operates on a fiscal year that begins on October 1 and ends on September 30. The tax money the Federal Government collects is placed into the General Fund of the Treasury to pay for essential government services.
There are many categories of services provided by the Federal Government. First, there are social security and Medicare benefits. Second, there is national defense (salaries and pensions for members of the Armed Services and to provide equipment and supplies to our armed forces). Another use of Federal tax receipts for net interest (payments of interest on the public debt, less interest received by trust funds and other interest received).
The Federal Government provides income security programs (unemployment compensation, retirement and disability programs, food stamps and housing subsidies). It also has programs for health care (assistance to the poor through the Medicaid program, the training of health care professionals, and medical research activities). In addition, the Government is responsible for education, training and social services (grants to elementary, secondary, and vocational schools and assistance to colleges and universities). The Government also provides grants to state and local governments for social services programs.
Federal tax dollars are spent to provide benefits and services to veterans and their dependents (pensions, medical services, education training, and life insurance programs). Tax money also pays for transportation (grants to states and local governments for constructing highways, mass transit systems, and airports). Finally, there are other miscellaneous functions of the Federal Government. Unfortunately, there are far too many programs to list here.
We have a chart available showing the major budget categories for this fiscal year. There is a chart available in the Federal income tax booklets that are mailed out each year. A detailed breakdown of the specific uses of Federal tax dollars is available in. You may download a copy of the budget from the Office of Management and Budget website. Copies are also available for purchase from the Government Printing Office website. The website also lists Federal Depository Libraries that house copies of the budget.
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Last Updated:
June 19, 2007
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