2009 United States federal budget

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2009 (2009) Budget of the United States federal government
2008
2010
Submitted byGeorge W. Bush
Submitted to110th Congress
Total revenue$2.7 trillion (estimated)
$2.105 trillion (actual)[1]
Total expenditures$3.107 trillion (estimated)
$3.518 trillion (actual)[1]
Deficit$407 billion (estimated)
$1.413 trillion (actual)[1]
Debt$12.867455 trillion (estimated)
Websitehttp://www.gpoaccess.gov/USbudget/fy09/hist.html US Government Printing Office
 
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2009 (2009) Budget of the United States federal government
2008
2010
Submitted byGeorge W. Bush
Submitted to110th Congress
Total revenue$2.7 trillion (estimated)
$2.105 trillion (actual)[1]
Total expenditures$3.107 trillion (estimated)
$3.518 trillion (actual)[1]
Deficit$407 billion (estimated)
$1.413 trillion (actual)[1]
Debt$12.867455 trillion (estimated)
Websitehttp://www.gpoaccess.gov/USbudget/fy09/hist.html US Government Printing Office

The United States federal budget for fiscal year 2009 began as a spending request submitted by President George W. Bush to the 110th Congress. The final resolution was approved by the House on June 5, 2008.[2] The final spending bills for the budget were not signed into law until March 11, 2009 by President Barack Obama, nearly five and a half months after the fiscal year began.

Contents

Total receipts

Estimated receipts for fiscal year 2009 are $2.7 trillion (+7.1%).

Total spending

A dot plot representing spending by category for the US budget for 2009

The 110th Congress' budget for 2009 totaled $3.1 trillion. Percentages in parentheses indicate percentage change compared to 2008. This budget request is broken down by the following expenditures:

The financial cost of the Iraq War and the War in Afghanistan are not part of the defense budget; they were appropriations.

Deficit

Decreased tax revenue and high spending resulted in an unusually large budget deficit of about $1.4 trillion, well above the $407 billion projected in the FY 2009 budget.[3] A 2009 CBO report indicated that $245 billion, about half of the excess spending, was a result of the 2008 TARP bailouts. Tax cuts resulting from the American Recovery and Reinvestment Act of 2009 accounted for nearly half of the lost revenue.[4]

References

  1. ^ a b c "Summary Tables". 2011 Budget of the U.S. Government. United States Office of Management and Budget. February 1, 2010. http://www.gpo.gov/fdsys/search/pagedetails.action?granuleId=BUDGET-2011-BUD-28&packageId=BUDGET-2011-BUD. Retrieved December 8, 2011.
  2. ^ "Final Vote Results for Roll Call 382". United States House of Representatives. June 5, 2008. http://clerk.house.gov/evs/2008/roll382.xml. Retrieved December 14, 2012.
  3. ^ "Budget of the US Government, FY 2011". Office of Management and Budget. Archived from the original on July 7, 2011. http://www.gpoaccess.gov/usbudget/fy11/pdf/budget.pdf. Retrieved July 21, 2011.
  4. ^ "Monthly Budget Review". Congressional Budget Office. October 7, 2009. http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/106xx/doc10640/10-2009-mbr.pdf. Retrieved December 14, 2012.

External links