Instructions For Form 1040 - U.s. Individual Income Tax Return - 2017 Page 103
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107 Major Categories of Federal Income and Outlays for Fiscal Year 2016
Income and Outlays. These pie charts show the relative sizes of the major categories of federal income and outlays for scal year 2016.
Income
Outlays*
Net
Physical,
Law
Personal income
interest
Social security,
human, and
Social security, Medicare,
enforcement
taxes
Medicare, and other
on the
community
and unemployment and other
and general
40%
debt
retirement
1
development
3
retirement taxes
government
6%
42%
7%
29%
2%
Excise, customs,
Social
estate, gift, and
programs
4
miscellaneous
Corporate
National defense,
23%
Borrowing to
income taxes
taxes
veterans, and foreign
cover de cit
8%
8%
affairs
2
15%
21%
* Numbers may not total to 100% due to rounding.
On or before the first Monday in February
30, 2016), federal income was $3.268 tril-
countries and the maintenance of U.S.
of each year, the President is required by
lion and outlays were $3.853 trillion,
embassies abroad.
law to submit to the Congress a budget
leaving a deficit of $585 billion.
3. Physical, human, and communi-
proposal for the fiscal year that begins the
ty development: These outlays were for
Footnotes for Certain Federal
following October. The budget plan sets
agriculture; natural resources; environ-
forth the President's proposed receipts,
Outlays
ment; transportation; aid for elementary
spending, and the surplus or deficit for
and secondary education and direct assis-
the federal government. The plan includes
tance to college students; job training; de-
1. Social security, Medicare, and
recommendations for new legislation as
posit insurance, commerce and housing
other retirement: These programs pro-
well as recommendations to change, elim-
credit, and community development; and
vide income support for the retired and
inate, and add programs. After receipt of
space, energy, and general science pro-
disabled and medical care for the elderly.
the President's proposal, the Congress re-
grams.
views the proposal and makes changes. It
2. National defense, veterans, and
4. Social programs: About 16% of
first passes a budget resolution setting its
foreign affairs: About 15% of outlays
total outlays were for Medicaid, Supple-
own targets for receipts, outlays, and sur-
were to equip, modernize, and pay our
mental Nutrition Assistance Program
plus or deficit. Next, individual spending
armed forces and to fund national defense
(formerly food stamps), temporary assis-
and revenue bills that are consistent with
activities; about 4% were for veterans
tance for needy families, supplemental se-
the goals of the budget resolution are
benefits and services; and about 1% were
curity income, and related programs; and
enacted.
for international activities, including mili-
6% for health research and public health
tary and economic assistance to foreign
In fiscal year 2016 (which began on
programs, unemployment compensation,
October 1, 2015, and ended on September
assisted housing, and social services.
Note. The percentages shown here exclude undistributed offsetting receipts, which were $95 billion in fiscal year 2016. In the budget, these receipts are offset against spending in figuring the outlay totals shown above.
These receipts are for the U.S. Government's share of its employee retirement programs, rents and royalties on the Outer Continental Shelf, and proceeds from the sale of assets.
-103-
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