What is the biggest federal spending?

What is the biggest federal spending?

As Figure A suggests, Social Security is the single largest mandatory spending item, taking up 38% or nearly $1,050 billion of the $2,736 billion total. The next largest expenditures are Medicare and Income Security, with the remaining amount going to Medicaid, Veterans Benefits, and other programs.

What are the top 3 discretionary spending categories?

Discretionary Spending The largest of these programs are Health and Human Services, Education, and Housing and Urban Development.

What are the largest categories of discretionary and mandatory spending?

Examples of mandatory and discretionary spending are below. The largest federal program is Social Security, which provides benefits to over 69 million retired and disabled workers and their families. It accounts for about 23 percent of all federal spending and is required by law, so it is mandatory.

What is discretionary federal spending?

In American public finance, discretionary spending is government spending implemented through an appropriations bill. Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation.

Which category is an example of discretionary spending?

Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation.

What is the largest category of income?

Individual income taxes are the largest single source of federal revenues, constituting one-half of such receipts. As a percentage of GDP, individual income taxes have ranged from 6 to 10 percent over the past 50 years, averaging 8 percent of GDP. Total tax liabilities among individuals vary considerably by income.

What is the largest category of earned income?

Employee compensation — The largest category of gross income by far, it accounts for 73.7% of the total.

What is the largest category of federal discretionary spending quizlet?

The largest category of discretionary spending is defense spending, which accounts for about half of all the federal government’s discretionary spending. Other examples of discretionary spending are spending on education, scientific research, and law enforcement.

What is the largest part of discretionary spending?

By far, the biggest category of discretionary spending is spending on the Pentagon and related military programs.

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