Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs. Congressional decisions are governed by rules and legislation regarding the federal budget process. However, Congress is the body required by law to pass appropriations annually and to submit funding bills passed by both houses to the President for signature. The fiscal year refers to the year in which it ends. The budget document often begins with the President's proposal to Congress recommending funding levels for the next fiscal year, beginning October 1 and ending on September 30 of the year following. President's Proposed 2016 Budget: Federal Spending and Revenue as Share of U.S.CBO current law baseline as of May 2023, showing forecast of deficit and debt by year.President's Proposed 2016 Budget: Military and Non-Military Discretionary Spending.President's Proposed 2016 Budget: Mandatory and Discretionary Spending and Interest on Debt.President's Proposed 2016 Budget: Mandatory Spending.President's Proposed 2016 Budget: Discretionary Spending.President's Proposed 2016 Budget: Total Spending.“Other” includes categories of spending that contributed less than 1 percent of mandatory spending each, including Energy & Environment, Military, Education, and Science.įor additional analysis of the President’s fiscal 2016 budget, see NPP’s President Obama Proposes 2016 Budget. Lower than zero spending can occur when segments of government have surpluses from previous years that they return to the federal government. º Totals in chart do not equal $2.63 trillion because spending on Government (administration) and International Affairs are less than zero and are omitted in the mandatory spending pie chart. This chart shows how the president would allocate that spending. Lawmakers do not choose the exact amount of money spent on these programs, because they are dependent on the number of people who qualify for benefits, but rule changes can indirectly affect how much is spent. Mandatory spending includes earned-benefit programs that people pay into, such as Social Security and Medicare, and accounts for 65 percent of all spending in the president’s proposed 2016 budget. President Obama proposes to spend $2.63 trillion º in mandatory spending in fiscal year 2016, an increase of more than 5 percent over the 2015 enacted level. President's Proposed 2016 Budget: Mandatory Spending * Spending on Government (administration) is less than zero and omitted in the total spending pie chart. Social Security and labor, Medicare and health programs, and military spending will make up 76 percent of the total budget, leaving just 24 percent, or $957 billion of the $4.1 trillion total, to spend on all other programs. ![]() This includes every type of federal spending, from funding for discretionary programs like infrastructure improvements and job training to mandatory spending programs like Social Security and Medicare, as well as interest payments on the federal debt. This chart shows how President Obama proposed allocating $4.1 trillion * in total federal spending in fiscal year 2016, an increase of more than 5 percent over the total 2015 spending level. President's Proposed 2016 Budget: Total Spending These pictures tell the story of the priorities found in the president’s budget. ![]() ![]() It’s the president’s vision for the country in fiscal year 2016 and beyond, and it reflects input and spending requests from every federal agency. Though the budget ultimately enacted by Congress may look very different from the budget request released by the president, the president’s budget is important. Budgets are about our nation’s priorities: What are we going to spend money on? How are we going to raise the money we want to spend? President Obama recently released his fiscal year 2016 budget proposal. Easily share any of the charts below by clicking on the social media buttons directly below them.
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