2010 United States federal budget

The United States Federal Budget for Fiscal Year 2010, titled A New Era of Responsibility: Renewing America's Promise,[6] is a spending request by President Barack Obama to fund government operations for October 2009–September 2010. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2010, which must be authorized by Congress.

2010 (2010) Budget of the United States federal government
President Barack Obama with OMB Director Peter Orszag.
SubmittedFebruary 26, 2009[1]
Submitted byBarack Obama
Submitted to111th Congress
Total revenue$2.381 trillion (requested)
$2.163 trillion (actual)[2]
14.6% of GDP (actual)[3]
Total expenditures$3.552 trillion (requested)
$3.456 trillion (actual)[2]
23.4% of GDP (actual)[3]
Deficit$1.171 trillion (requested)
$1.294 trillion (actual)[4]
8.7% of GDP (actual)[3]
Debt$13.53 trillion (at fiscal end)
91.4% of GDP[5]
GDP$14.799 trillion[3]
WebsiteOffice of Management and Budget
‹ 2009
2011

The government was initially funded through two temporary continuing resolutions. Final funding for the government was enacted as an omnibus spending bill, the Consolidated Appropriations Act, 2010, on December 16, 2009.[7]

Total spending

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A pie chart representing spending by category for the US budget for 2010[citation needed]

Incoming President Barack Obama's budget request for FY 2010 totaled $3.55 trillion and was passed by Congress on April 29, 2009. Percentages in parentheses indicate percentage changes compared to FY 2009. A breakdown of Obama's budget request includes the following expenditures:[8]

  • Mandatory spending: $2.173 trillion (+14.9%)
US receipt and expenditure estimates for fiscal year 2010.

Total revenue

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2010 Actual Receipts by Source

  Social Security/other payroll tax (40.4%)
  Deposits of earnings and Federal Reserve System (3.6%)
  Excise tax (3.4%)
  Customs duties (1.1%)
  Estate and gift taxes (0.8%)
  Other miscellaneous receipts (0.8%)

(in billions of dollars):

SourceRequested[9]Enacted[10]Actual[11]
Individual income tax1,061936899
Corporate income tax222157191
Social Security and other payroll tax940875865
Excise tax777367
Estate and gift taxes201719
Customs duties232425
Deposits of earnings and Federal Reserve System227776
Allowance for jobs initiatives-−12-
Other miscellaneous receipts161821
Total2,3812,1652,163

Deficit

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The total deficit for fiscal year 2010 was $1.293 trillion.[11]

References

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