Capitalism, while imperfect, is the best known mechanism for wealth creation, but unregulated market forces can produce vast inequality and other negative consequences. We believe that our government of, by, and for the people, while also imperfect, has a central role in using the common wealth for the common good in a blanced economy.

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Government Budgets for Fiscal Year 2011
   

This page contains two charts:

1. The Fiscal Year 2011 spending budget (before the $38.5 billion federal spending cut compromise that prevented a government shutdown in April, 2011), and
2. The Fiscal Year 2011 revenue budget.

These budgets include all government spending and all government income, including federal, state, and local amounts, and they show the transfer of dollars from the federal government to state and local governments.

These charts are downloads from the U.S. Government Spending web site. They represent a lot of work by a fellow named Christopher Chantrill, a staunch conservative. We applaud his efforts. They give us a view of overall government spending and revenue that very few get to see. They provide valuable background and perspective for knowledgeable debate on our economic policies.

Government Spending

For FY 2011, federal spending totals about $3.8 trillion, and total government spending is about $6.1 trillion. If you visit Chantrill's web site, you can find the additional detail behind the major spending line items. In the chart below, we expanded the Health Care item to reveal the $494 billion for Medicare, and the $347 billion for Medicaid (about $283 billion transfer to the states) and SSI.

Government Revenue

For FY 2011, federal revenue totals about $2.2 trillion, compared with $3.8 trillion in spending, for a federal budget deficit of $1.6 trillion. Total government revene totals about $4.5 trillion. . If you visit Chantrill's web site, you can find the additional detail behind the major revenue line items. In the chart below, we expanded the Income Taxes item and Social Insurance Taxes item to reveal Federal Individual Income Tax of $956 billion, Social Security Insruance payroll tax of $478 billion, and Medicare Hospital Insurance payroll tax of $187 billion. We also expanded Ad-valorem (based on assessed value) Taxes to reveal Sales Taxes of $373 billion and Property Taxes of $460 billion.