United States Budget FY2023 vs FY2024
Spending, revenue and category allocations compared side by side.
Key Budget Metrics โ FY2023 vs FY2024
FY2023
$6.13 trillion
FY2024
$6.75 trillion
FY2023
$4.44 trillion
FY2024
$4.92 trillion
FY2023
$1.69 trillion
FY2024
$1.83 trillion
FY2023
6.2%
FY2024
6.3%
FY2023
$658.3 billion
FY2024
$879.9 billion
FY2023
$26.24 trillion
FY2024
$28.20 trillion
Receipts & Expenditure Comparison
| Particulars | FY2023 | FY2024 | Difference |
|---|---|---|---|
| Total Receipts | $4.44 trillion | $4.92 trillion | -9.7% |
| Total Outlays | $6.13 trillion | $6.75 trillion | -9.1% |
| Deficit | $1.69 trillion | $1.83 trillion | -7.5% |
| Net Interest | $658.3 billion | $879.9 billion | -25.2% |
| Debt Held by the Public | $26.24 trillion | $28.20 trillion | -7.0% |
| Nominal GDP | $27.40 trillion | $28.95 trillion | -5.4% |
| Deficit (% of GDP) | 6.18% | 6.33% | โ |
| Debt-to-GDP Ratio | 95.76% | 97.40% | โ |
FY2023 โ Revenue Composition
FY2024 โ Revenue Composition
Category-wise Allocation โ FY2023 vs FY2024
| Category | FY2023 | FY2024 | Difference |
|---|---|---|---|
1. Social Security | $1.35 trillion | $1.45 trillion | -7.3% |
2. All Other | $1.07 trillion | $1.34 trillion | -20.1% |
3. Medicare | $1.02 trillion | $1.04 trillion | -2.7% |
4. Net Interest | $658.3 billion | $879.9 billion | -25.2% |
5. National Defense | $806.2 billion | $850.7 billion | -5.2% |
6. Medicaid | $615.8 billion | $617.5 billion | -0.3% |
7. Income Security | $448.1 billion | $370.2 billion | +21.0% |
8. Veterans Benefits | $170.4 billion | $191.8 billion | -11.1% |
Compare Another Fiscal Year
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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