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Q: Federal Budget ( Answered 4 out of 5 stars,   0 Comments )
Question  
Subject: Federal Budget
Category: Business and Money > Economics
Asked by: bill22-ga
List Price: $50.00
Posted: 04 Feb 2006 14:05 PST
Expires: 06 Mar 2006 14:05 PST
Question ID: 441471
What percent of the Federal goverment Budget is Entitlements and
Defense (farm subsidies do not count) for the last fiscal year.
Answer  
Subject: Re: Federal Budget
Answered By: pafalafa-ga on 04 Feb 2006 16:39 PST
Rated:4 out of 5 stars
 
Bill,


A good overview of the federal budget for several years -- both actual
and future proposed -- can be seen in this document from the White
House website:




http://www.whitehouse.gov/omb/budget/fy2004/tables.html
United States Budget
SUMMARY TABLES


Of particular interest is Table S-2, which summarizes major budget
categories.  I've extracted a few key figures below for the 2005
budget figures:



==========

Table S?2. Budget Summary by Category 

Defense                      $410 billion

Total, Mandatory           $1,289 billion

Total Outlays              $2,343 billion

==========


From these numbers, it is apparent that defense spending accounts for
410/2343 = 17.5% of the President's federal budget in 2005.


Mandatory spending -- which is what is commonly known as entitlement
spending -- accounts for 1289/2343 = 55.0% of the budget.



The largest individual entitlements are:

Social Security               512 billion

Medicare                      272 billion

Medicaid/Insurance            199 billion


These categories together account for 512 + 272 + 199 =  983 billion:


which is 983/2343 = 41.9% of the overall budget.  


Another $301 billion is listed in the "Other" category of mandatory
expenditures, but I didn't include these in the analysis, since these
include the agricultural mandatory spending programs such as
Department of Agriculture spending on conservation programs and school
lunch programs.


I trust this information fully answers your question.  


However, please don't rate this answer until you have everything you
need.  If you would like any additional information, just post a
Request for Clarification to let me know how I can assist you further,
and I'm at your service.

All the best,

pafalafa-ga


search strategy -- Google search on [ federal budget ] led to the
White House site, where I perused the budget documents for the
relevant material.

Request for Answer Clarification by bill22-ga on 04 Feb 2006 21:21 PST
This answer is to settle a bet our bet excludes farm subsidies etc ans
only includes Militery and the entitlements
SS,Welfare,Medicaid,Medicare. The over undr was 66.66%. SO is your
answer that the total is over or under 66.66%

Clarification of Answer by pafalafa-ga on 05 Feb 2006 05:46 PST
Under!


Military spending is 17.5% of the total budget, and the Big Three
entitlements are another 41.9%, so the total spending is:


17.5 + 41.9 = 59.4%



Hope you were the under-66.66% guesser!


paf
bill22-ga rated this answer:4 out of 5 stars and gave an additional tip of: $10.00

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