Post by anointedteacher on Feb 1, 2010 17:25:30 GMT -5
President Obama's $3.8 trillion budget proposal for fiscal year 2011 includes billions to put people back to work and imposes new fees on some of the nation's largest banks.
Spending:
**DISCRETIONARY:
****Defense ************** 895 billion
****Other Discretionary******520 billion
**MANDATORY:
****Social Securty**********730 billion
****Medicare**************491 billion
****Medicaid************** 297 billion
****Trouble Asset Relief****** 11 billion
****Jobs Initiatives********** 25 billion
****Other*****************612 billion
**OTHER:
****Interest on debt*********251 billion
TOTAL SPENDING*********************** $3.83 Trillion
Revenue:
****Individual Inome Taxes****1.1 trillion
****Corporate Income Taxes***297 billion
****Social Security & Other
Payroll Taxes************934 billion
****Excise Taxes************ 74 billion
****Estate & Gift Taxes******* 25 billion
****Customer duties********* 27 billion
****Other****************** 87 billion
Total Revenue**************************$2.57 trillion
Deficit:********************************$1.27 trillion