In 2015, the federal government spent close to $3.7 Trillion to pay its bills (I.e. Military, Social Security, Medicare/Medicaid, Education etc.). Here’s how much of it was spent:
* Medicare/Medicaid – $1 Trillion ($.27 for every $1 spent)
* Social Security – $944 Billion ($.26 for every $1 spent)
* Dept. of Defense – $562 Billion ($.15 for every $1 spent)
* Dept. of Treasury INTEREST ONLY on our Debt – $402 Billion ($.11 for every $1 spent)
Those four “items” alone account for $.79 for every $1 spent by the federal government.
The other $.21 combined spending goes for everything else including Education, Veterans, Homeland Security, Housing & Urban Development, Transportation, Energy, Agriculture, Environmental Protection.
Department of Treasury related link
The federal government also collected roughly $3.2 Trillion from taxpayers (I.e. Your paycheck).
Here’s the breakdown
Finally, over the years, the federal government has borrowed money to take care of its needs. Currently, it owes over $19 Trillion on its “credit cards” and “loans” combined (national debt).
Here is a real time total of what the federal government owes and who it owes it to.
As stated earlier, in 2015, the federal government used the taxes we paid to pay $402 Billion in INTEREST ONLY on the total amount it owes.
Here’s how much the national debt has grown since 2000:
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