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Spending Analyses:
Debt, Deficit Analyses:
Numbers — Charts:
US Federal Budget Analyst
FY25 Federal Budget Spending Estimates
for Fiscal Years 2024 - 2029
US Federal Government Spending
Budget Interest Cost Analysis for FY 25 in $ billion
| FY 2024 Spending | FY 2025 Spending | FY 2026 Spending | FY 2027 Spending | FY 2028 Spending | FY 2029 Spending | |||||
| OMB Budget Numbers1 | ||||||||||
| Interest | 888.6 | 965.5 | 1,013.4 | 1,072.4 | 1,135.7 | 1,190.4 | ||||
| Interest as Pct GDP | 3.3 | 3.5 | 3.5 | 3.6 | 3.4 | 3.4 | ||||
| Interest Rate % | 2.53 | 2.60 | 2.60 | 2.63 | 2.67 | 2.70 | ||||
| Total Spending | 6,940.9 | 7,266.0 | 7,419.4 | 7,696.6 | 8,082.5 | 8,312.8 | ||||
| Federal Deficit | 1,859.4 | 1,781.0 | 1,546.7 | 1,510.3 | 1,572.9 | 1,482.9 | ||||
| Gross Public Debt | 35,107.9 | 37,096.5 | 39,039.6 | 40,787.5 | 42,460.8 | 44,164.9 | ||||
| Revised Budget Numbers | ||||||||||
| Revised Interest | 888.6 | 965.5 | 1,013.4 | 1,072.4 | 1,135.7 | 1,190.4 | ||||
| Revised Interest as Pct GDP | 3.3 | 3.5 | 3.5 | 3.6 | 3.4 | 3.4 | ||||
| Revised Interest Rate % | Go | |||||||||
| Revised Total Spending | 6,940.9 | 7,266.0 | 7,419.4 | 7,696.6 | 8,082.5 | 8,312.8 | ||||
| Revised Federal Deficit | 1,859.4 | 1,781.0 | 1,546.7 | 1,510.3 | 1,572.9 | 1,482.9 | ||||
| Revised Gross Public Debt | 35,107.9 | 37,096.5 | 39,039.6 | 40,787.5 | 42,460.8 | 44,164.9 | ||||
| Spending: Pie Chart: Select a pie chart you wish to display. You can create a pie chart for federal, state and local, and overall spending/revenue. Data Source: | ||||||||||
The table shows overall budgeted federal expenditures for total spending and interest payments on federal debt for the next five fiscal years. In the first section, labeled “OMB Budget Numbers” you can see the budgeted expenditure as estimated in the historical tables in the current presidential budget. The row labeled “Interest Rate %” is the effective interest rate for the accumulated federal debt for each year and is computed by dividing the budgeted interest cost by the gross public debt.
Under “Revised Budget Numbers” you can input your own estimate of future interest rates for each fiscal year. Click Go to recalculate interest costs and to view the effect of those interest costs on total spending and the accumulated federal debt.
Notes
Data Sources: Federal spending from Budget of the United States Government.
For a discussion of the sources of the government spending data used here read How We Got the Data for usgovernmentspending.com.
Budget Updates: The president’s budget is typically published each year in February.
Download Federal Interest Forecast for 2024-2029
Tab-delimited Table
Here is the interest forecast table with columns tab-delimited. You can cut and paste directly into a spreadsheet:
You can copy all the text in the textbox by clicking your cursor in the box. Then press Ctrl-A and Ctrl-C and paste the text into your spreadsheet.
US Treasury Securities Yield Curve for May 16, 2024
The US Treasury Yield Curve shows the current yield of the full range of securities issued by the US Treasury, from One Month Treasury Bills to 30 Year Treasury Bonds. “Experts agree” that a “normal” yield curve, where every security with a longer maturity has a yield greater than all securities with a shorter maturity, is the sign of a growing economy.
US Treasury Securities Yield Curve for November 28,2006
An “inverted” yield curve, where US securities with
shorter maturity have yields greater than some securities with a longer maturity, “experts agree,” is a flashing red sign indicating recession ahead.
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Spending Data Sources
Spending data is from official government sources.
- Federal spending data since 1962 comes from the president’s budget.
- All other spending data comes from the US Census Bureau.
Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.
Detailed table of spending data sources here.
Medicare breakdown here; Medicaid breakdown here.
Federal spending data begins in 1792.
State and local spending data begins in 1820.
State and local spending data for individual states begins in 1957.
Gross Federal Debt
| Debt Now: | $34,534,845,450,747.16 | Debt 2/2020: | $23,409,959,150,243.63 |
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Data Sources for 2024_2029:
Sources for 2024:
GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years
Sources for 2029:
GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years
> data sources for other years
> data update schedule.
Blog
Federal Budget for FY25 Released
On March 11, 2024, we updated usgovernmentspending.com with the numbers from the Public Budget Database in the Budget of the United States Government for Fiscal Year 2025.
Here is how headline budget estimates for the upcoming FY 2024 fiscal year have changed since the release of the FY 2024 budget a year ago in Winter 2023.
| $ billion | Estimate for 2024 in FY2024 Budget | Estimate for 2024 in FY2025 Budget | Change |
| Federal Outlays | $6,371.8 | $6,940.9 | +$569.1 |
| Federal Receipts | $4,802.5 | $5,081.6 | +$279.1 |
| Federal Deficit | $1,569.4 | $1,859.4 | +$290.0 |
You can see line item changes from budget to budget here. You can compare budget estimates with actuals here.
Account level spending estimates through FY 2029 come from the Outlays table in the Public Budget Database and were updated on usgovernmentspending.com on March 11, 2024.
Account level budget authority estimates through FY 2029 come from the Budget Authority table in the Public Budget Database and were updated on usgovernmentspending.com on March 11, 2024.
On March 11, 2024, usgovernmentspending.com updated its data for agency debt from the Federal Reserve Board database. Data is now available for the period 1945-2023. You can see our Agency Debt pag ...
On January 19, 2024 usgovernmentspending.com updated its GDP series with the latest data from the Bureau of Economic Analysis, ...
> blog
Budget News
President’s FY 2025 Budget Release Scheduled for March 11
Although the FY 2024 appropriations process is not yet resolved
Biden to Release Budget March 9
will press McCarthy On Default Risk - Bloomberg
Biden to Release 2023 Budget Request on March 28
how the administration expects to spend money for priorities including aid to Ukraine and the continuing effort to fight the coronavirus pandemic, as well as legislative proposals such as increased funding for community policing programs, cancer research, and mental health education.
> archive
Spend Links
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