What is the total federal budget for 2017 2024?
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Benjamin Brooks
Works at the International Seabed Authority, Lives in Kingston, Jamaica.
Hello there, I'm a financial analyst with a keen interest in government budgets and fiscal policies. It's a pleasure to discuss such an important topic as the federal budget of the United States for the year 2017.
The federal budget is a comprehensive plan that outlines the government's proposed expenditures and revenues for a fiscal year. It's a critical tool for understanding the government's priorities and financial management. For the fiscal year 2017, the budget was submitted to the 114th Congress on February 9, 2016. The budget proposal is a reflection of the administration's fiscal goals and is subject to approval and amendments by Congress.
The total expenditures for the fiscal year 2017 were requested at approximately $4.147 trillion, which represented about **21.5% of the Gross Domestic Product (GDP)** at that time. This figure is a significant indicator of the scale of the federal government's operations and the resources it plans to allocate across various sectors such as defense, education, healthcare, and infrastructure, among others.
In terms of the deficit, which is the difference between the government's expenditures and its revenues, the requested figure was $503 billion, equating to about 2.6% of GDP. However, the actual deficit for the year turned out to be $666 billion. A deficit indicates that the government is spending more than it is taking in through taxes and other revenue sources, which can have implications for the economy and the nation's fiscal health.
The debt of the United States, which is the cumulative total of all the deficits the government has run over the years, was requested to be $11.31 trillion for the fiscal year 2017. This is a substantial figure that reflects the overall financial obligations of the federal government and is a key concern for policymakers and economists alike.
It's important to note that the federal budget is a dynamic document that evolves through negotiations and adjustments by the legislative and executive branches of the government. The figures mentioned here are subject to change as the budget is debated and finalized. Additionally, the actual figures can differ from the requested ones due to various factors, including economic conditions, policy changes, and legislative decisions.
In conclusion, the federal budget for 2017 was a complex and multifaceted plan that aimed to balance the government's spending with its revenue collection. The budget proposal and its eventual outcome are crucial for understanding the financial strategies and priorities of the U.S. government for that year.
The federal budget is a comprehensive plan that outlines the government's proposed expenditures and revenues for a fiscal year. It's a critical tool for understanding the government's priorities and financial management. For the fiscal year 2017, the budget was submitted to the 114th Congress on February 9, 2016. The budget proposal is a reflection of the administration's fiscal goals and is subject to approval and amendments by Congress.
The total expenditures for the fiscal year 2017 were requested at approximately $4.147 trillion, which represented about **21.5% of the Gross Domestic Product (GDP)** at that time. This figure is a significant indicator of the scale of the federal government's operations and the resources it plans to allocate across various sectors such as defense, education, healthcare, and infrastructure, among others.
In terms of the deficit, which is the difference between the government's expenditures and its revenues, the requested figure was $503 billion, equating to about 2.6% of GDP. However, the actual deficit for the year turned out to be $666 billion. A deficit indicates that the government is spending more than it is taking in through taxes and other revenue sources, which can have implications for the economy and the nation's fiscal health.
The debt of the United States, which is the cumulative total of all the deficits the government has run over the years, was requested to be $11.31 trillion for the fiscal year 2017. This is a substantial figure that reflects the overall financial obligations of the federal government and is a key concern for policymakers and economists alike.
It's important to note that the federal budget is a dynamic document that evolves through negotiations and adjustments by the legislative and executive branches of the government. The figures mentioned here are subject to change as the budget is debated and finalized. Additionally, the actual figures can differ from the requested ones due to various factors, including economic conditions, policy changes, and legislative decisions.
In conclusion, the federal budget for 2017 was a complex and multifaceted plan that aimed to balance the government's spending with its revenue collection. The budget proposal and its eventual outcome are crucial for understanding the financial strategies and priorities of the U.S. government for that year.
2024-06-02 23:15:11
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Studied at the University of Zurich, Lives in Zurich, Switzerland.
2017 United States federal budgetSubmitted February 9, 2016 Submitted to114th CongressTotal expenditures$4.147 trillion (requested) 21.5% of GDPDeficit$503 billion (requested) 2.6% of GDP $666 billion (actual)Debt$11.31 trillion (requested)4 more rows
2023-06-11 17:27:52
Lucas Wilson
QuesHub.com delivers expert answers and knowledge to you.
2017 United States federal budgetSubmitted February 9, 2016 Submitted to114th CongressTotal expenditures$4.147 trillion (requested) 21.5% of GDPDeficit$503 billion (requested) 2.6% of GDP $666 billion (actual)Debt$11.31 trillion (requested)4 more rows
