President Trump’s 2018 Budget Proposal

Today, Mick Mulvaney, Director of the Office of Management and Budget (OMB), released President Donald Trump’s budget proposal for 2018.

Here is the full text

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We Don’t Waste A Lot of Our Tax Dollars on Welfare

According to the Department of the Treasury, in 2016, the federal government spent $3.8 Trillion to pay its bills (I.e. Military, Social Security, Medicare/Medicaid, Education etc.). Here’s how much of it was spent:

* Medicare/Medicaid  – $1.1 Trillion

* Social Security  – $976 Billion

* Dept. of Defense  – $565 Billion

* Dept. of Treasury INTEREST ONLY on our Debt – $429 Billion

Those four “items” alone account for roughly $.80 for every $1 spent by the federal government.

Also according to the Department of the Treasury, the food stamps program which is part of spending through the Department of Agriculture, is less than 2% of overall federal spending each year. 2 cents of every $1 we pay in taxes

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Quick Summary of Social Security for 2016

According to the Department of the Treasury, the federal government spent $976 Billion (of $3.8 Trillion in total) for Social Security benefits in 2016. They took in $1.06 Trillion (of $3.2 Trillion in total) for 2016.

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Presidential Transition Letters

Every four or eight years we change individual Presidents. For years, there was an understanding that the outgoing President left a personal letter to the incoming President.

Two of those letters have recently been released. Here are Bill Clinton’s letter to George W. Bush & George W. Bush’s letter to Barack Obama courtesy of ABC News and the National Archives.

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America’s Expenses, Income & Debt for 2016

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In 2016, the federal government spent $3.8 Trillion to pay its bills (I.e. Military, Social Security, Medicare/Medicaid, Education etc.). Here’s how much of it was spent:

* Medicare/Medicaid  – $1.1 Trillion

* Social Security  – $976 Billion

* Dept. of Defense  – $565 Billion

* Dept. of Treasury INTEREST ONLY on our Debt – $429 Billion

Those four “items” alone account for roughly $.80 for every $1 spent by the federal government.

The other roughly $.20 combined spending goes for everything else including Education, Veterans, Homeland Security, Housing & Urban Development, Transportation, Energy, Agriculture, Environmental Protection.

Department of Treasury related link

Income

The federal government also collected roughly $3.2 Trillion from taxpayers (I.e. Your paycheck).

Here’s the breakdown

Debt

Finally, over the years, the federal government has borrowed money to take care of its needs. Currently, it owes over $19.8 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 2016, the federal government used the taxes we paid to pay $429 Billion in INTEREST ONLY on the total amount it owes.

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

debt.jpg

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America’s Expenses, Income & Debt for 2015

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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.

Budget

Department of Treasury related link

Income

The federal government also collected roughly $3.2 Trillion from taxpayers (I.e. Your paycheck).

Here’s the breakdown

Debt

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:

debt.jpg

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