How Your Tax Dollars Were Spent Last Year

From October 2017 – September 2018, the federal government spent $4.1 Trillion to pay its bills. Here’s how much of it was spent:

Medicare/Medicaid (Dept. of Health & Human Services)  – $1.1 Trillion

Social Security  – $1 Trillion

Dept. of Defense  – $601 Billion

Dept. of Treasury INTEREST ONLY on our Debt – $522 Billion

Those four “items” alone account for roughly $.79 for every $1 spent by the federal government. It’s worth noting that box #4 on your W2 and box #6 on your W2 show how much you paid toward your social security and medicare.

The other roughly $.21 combined spending goes for everything else including Education, Veterans, Homeland Security, Housing & Urban Development, Transportation, Energy, Agriculture, Environmental Protection. Here’s a full breakdown.

 

Income

The federal government collected $3.3 Trillion from taxpayers. Here’s a breakdown.

 

Full Report

Here’s the full Department of Treasury report for both expenses and income.  

 

Debt

It’s also worth keeping in mind, that like last year, over the years the government has borrowed a lot of money to pay its bill. Right now the government owes (national debt) over $21.8 Trillion.

Here is a real time total of what the federal government owes and who it owes it to.

Here’s how much the national debt has grown since 2000:

*Source: Department of Treasury, “The Monthly Treasury Statement of Receipts and Outlays of the United States Government October 15, 2018” report.

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