How much money did the federal government spend in 2012?
2012 United States federal budget
| Submitted | February 14, 2011 |
|---|---|
| Total revenue | $2.627 trillion (requested) $2.45 trillion (actual) 15.3% of GDP (actual) |
| Total expenditures | $3.729 trillion (requested) $3.537 trillion (actual) 22.1% of GDP (actual) |
Which three areas are the biggest sources of government spending in 2012?
Federal entitlements are driving this spending growth, having increased from less than half of total federal outlays just 20 years ago to nearly 62 percent in 2012. Three major programs—Medicare, Medicaid, and Social Security—dominate in size and growth, soaking up about 44 percent of the budget.
How much has the government spent in 2021?
In 2021, the federal government spent $6.82 trillion.
What were the three largest expenditures in the federal budget in 2012 together about how much of the budget did they make up?
Together, about how much of the budget did they make up? How much money was that? Medicare and Medicaid, Social Security, and Defense. They make up just a little more than 60% of the budget.
What are the top 5 expenditures for the federal government in 2012?
What Was Spent in FY 2012
- Social Security —$570 billion.
- Medicare—$201 billion.
- Unemployment—$67 billion.
- Retirement—$8 billion.
How much will the government spend this year?
In 2021, the federal government is projected to spend $6.8 trillion — higher than even last year’s total — while collecting about $3.8 trillion in revenue.
How much money does Australia have?
As of June 2021, the country’s GDP was estimated at A$1.98 trillion. The Australian economy is dominated by its service sector, which in 2017 comprised 62.7% of the GDP and employed 78.8% of the labour force. Australia has the tenth-highest total estimated value of natural resources, valued at US$19.9 trillion in 2019.
What was the 2011 federal government deficit?
For the 2011 fiscal year, expenditure was estimated at $3.82 trillion, with expected revenues of $2.17 trillion, leaving a deficit of $1.48 trillion. This includes, public and federal debt, as well as the GDP. Leaving a budget deficit of 38.7%, the world’s highest.
What are the three largest categories of expenditures in the federal budget quizlet?
Terms in this set (17)
- DEFENSE, SOCIAL SECURITY, MEDICARE. The three largest categories of federal government spending.
- WITHHOLDING. How much is being taken out of your paycheck in taxes.
- START PAYING TAXES. WHEN YOU MAKE MORE THAN THE MINIMUM INCOME REQUIREMENT.
- APRIL 15.
- W-4.
- 401(k) contribution.
- I-9.
- REFUND.
How much does the Australian government spend on government?
Australia Government Spending Government Spending in Australia decreased to 104151 AUD Million in the first quarter of 2021 from 104697 AUD Million in the fourth quarter of 2020. source: Australian Bureau of Statistics 3Y 10Y
When did the Australian Budget 2012 come out?
(June 2012) ( Learn how and when to remove this template message) ‡ Numbers in italics are projections.
How much did the Australian government spend in 1959?
Government Spending in Australia averaged 39721.38 AUD Million from 1959 until 2019, reaching an all time high of 91328 AUD Million in the second quarter of 2019 and a record low of 9362 AUD Million in the second quarter of 1960.
When was the last time Australia spent money?
Australia Government Spending – values, historical data and charts – was last updated on July of 2021. Government Spending in Australia is expected to be 111613.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
