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50/30/20 Budget Calculator - NerdWallet
WebMar 28, 2024 · The Budget and Economic Outlook: 2024 to 2033. February 15, 2024. In CBO’s projections, the federal deficit totals $1.4 trillion in … The federal government estimates it will receive $4.174 trillion in revenuein FY 2024. Most of this revenue is in the form of taxes paid by taxpayers either through income or payroll taxes. The estimate for each type of revenue is as follows: 1. Income taxes contribute $2.039 trillion or nearly 49% of total receipts. 2. … See more The government expects to spend $6.011 trillion in 2024. More than 65% of that pays for mandated benefits such as Social Security, Medicare, … See more Mandatory spendingis estimated to be $4.018 trillion in FY 2024. This category includes entitlement programs such as Social Security, Medicare, and unemployment compensation. It also includes welfare … See more Military spendingis included in the budget under discretionary spending. The biggest expense for the military is the Department of Defense base … See more The discretionary budget for 2024 is $1.688 trillion.3Much of it goes toward military spending, including Homeland Security, the Department of Veterans Affairs, and other defense-related departments. The … See more smu by rachel pedersen
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