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Deficit. $3.132 trillion (actual)[1] 15.0% of GDP[1] Website. BUDGET OF THE U.S. GOVERNMENT. ‹ 2019. 2021›. The United States federal budgetfor fiscal year2020 ran from October 1, 2019 to September 30, 2020. The government was initially funded through a series of two temporary continuing resolutions.
The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs.
A balanced budget requirement is a law that requires a government to balance its budget annually, such that government spending equals government revenue. [26] There are two types of balanced budget requirements: ex-post balanced budget requirements, and ex-ante balanced budget requirements.
The federal debt at the end of the 2018/19 fiscal year (ended September 30, 2019) was $22.7 trillion (~$27.1 trillion in 2023). The portion that is held by the public was $16.8 trillion. Neither figure includes approximately $2.5 trillion owed to the government. [ 83] Interest on the debt was $404 billion.
As of 2018 this region is still the largest source of immigrants to the United States [73] [74] [75] In 2018, there were almost 90 million immigrants and U.S. born children of immigrants (second-generation Americans) in the United States, accounting for 28% of the overall U.S. population. [76]
Federal spending per capita (that is, per person in the U.S.) was approximately $11,551 during 2011, versus $6,338 in 2000. Adjusted for inflation, these amounts were $5,133 in 2011 and $3,496 in 2000. Adjusted for inflation, federal spending per person remained around $3,500 throughout the 1990s.
The 2020 United States presidential election was the 59th quadrennial presidential election, held on Tuesday, November 3, 2020. [ a ] The Democratic ticket of former vice president Joe Biden and the junior U.S. senator from California Kamala Harris defeated the incumbent Republican president , Donald Trump , and vice president , Mike Pence . [ 9 ]
2020 United States House of Representatives elections: Republicans make gains although Democrats retain control. 2020 United States gubernatorial elections: Republicans flip Montana, increasing their control to 27 gubernatorial mansions. Post-election lawsuits related to the 2020 United States presidential election.