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United States Budget FY2023 vs FY2014

Spending, revenue and category allocations compared side by side.

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Key Budget Metrics โ€” FY2023 vs FY2014

Total Outlays

FY2023

$6.13 trillion

FY2014

$3.51 trillion

FY2023 is 75.0% higher
Total Receipts

FY2023

$4.44 trillion

FY2014

$3.02 trillion

FY2023 is 47.0% higher
Deficit

FY2023

$1.69 trillion

FY2014

$484.8 billion

FY2023 is 249.4% higher
Deficit (% GDP)

FY2023

6.2%

FY2014

2.8%

FY2023 is 120.7% higher
Net Interest

FY2023

$658.3 billion

FY2014

$229.0 billion

FY2023 is 187.5% higher
Debt Held by Public

FY2023

$26.24 trillion

FY2014

$12.78 trillion

FY2023 is 105.3% higher

Receipts & Expenditure Comparison

ParticularsFY2023FY2014Difference
Total Receipts$4.44 trillion$3.02 trillion+47.0%
Total Outlays$6.13 trillion$3.51 trillion+75.0%
Deficit$1.69 trillion$484.8 billion+249.4%
Net Interest$658.3 billion$229.0 billion+187.5%
Debt Held by the Public$26.24 trillion$12.78 trillion+105.3%
Nominal GDP$27.40 trillion$17.43 trillion+57.2%
Deficit (% of GDP)6.18%2.8%โ€”
Debt-to-GDP Ratio95.76%73.3%โ€”

FY2023 โ€” Revenue Composition

FY2014 โ€” Revenue Composition

Category-wise Allocation โ€” FY2023 vs FY2014

CategoryFY2023FY2014Difference
1. Social Security
$1.35 trillion
$850.5 billion
+58.5%
2. All Other
$1.07 trillion
$347.0 billion
+209.0%
3. Medicare
$1.02 trillion
$511.7 billion
+98.5%
4. National Defense
$806.2 billion
$603.5 billion
+33.6%
5. Net Interest
$658.3 billion
$229.0 billion
+187.5%
6. Medicaid
$615.8 billion
$301.5 billion
+104.2%
7. Income Security
$448.1 billion
$513.6 billion
-12.8%
8. Veterans Benefits
$170.4 billion
$149.6 billion
+13.9%

Compare Another Fiscal Year

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019

Understanding This Comparison

Federal figures are compared on outlays and receipts as reported by the Treasury and the Congressional Budget Office. The deficit is the gap between them; net interest is the cost of servicing past borrowing, and it buys no current services.

The federal fiscal year runs October to September and is named for the year it ends in, so FY2026 covers October 2025 through September 2026.

Definitions for every term used here are in the US budget glossary. To compare across countries, see India budget comparisons.

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