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As the figure suggests, over 50% of discretionary spending is attributed to national defense. The remaining 48% of funds is divided among non-defense items such as transportation and education. Total discretionary spending approved for the fiscal year 2019 is $1,305 billion, just 28% of total spending. [10]
Major categories of FY 2022 spending included: Medicare and Medicaid ($1.339T or 5.4% of GDP), Social Security ($1.2T or 4.8% of GDP), non-defense discretionary spending used to run federal Departments and Agencies ($910B or 3.6% of GDP), Defense Department ($751B or 3.0% of GDP), and net interest ($475B or 1.9% of GDP).
Mandatory spending of the US Federal Government in 2023 Breakdown of discretionary outlays of US Federal Government for 2023 CBO projections of U.S. Federal spending as % GDP 2014-2024 A timeline showing projected debt milestones from the CBO Social Security – Ratio of Covered Workers to Retirees. Over time, there will be fewer workers per ...
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Graph of U.S. mandatory and discretionary spending from 1966 to 2015. Mandatory spending levels start to diverge from discretionary spending levels in the early 1990s. In 2016, the U.S. federal government spent $1.2 trillion on U.S. discretionary spending. Of this $1.2 trillion, nearly half ($584 billion) was spent on national defense.
Economists upgraded their estimates for third-quarter consumer spending to a 3.4% rate from a 3.0% pace last month. Consumer spending grew at a 2.8% rate in the April-June quarter.
Discretionary spending is non-essential spending that isn't mandatory for your basic needs like shelter, food, healthcare, work and personal care. Many expenses are essential, but discretionary...
In fiscal year (FY) 1965, mandatory spending accounted for 5.7 percent of gross domestic product (GDP). [4] In FY 2016, mandatory spending accounted for about 60 percent of the federal budget and over 13 percent of GDP. [5] Mandatory spending received $2.4 trillion of the total $3.9 trillion of federal spending in 2016. [5]