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Submitted | February 4, 2008 [1] |
---|---|
Submitted by | George W. Bush |
Submitted to | 110th United States Congress |
Total revenue | $2.7 trillion (estimated) $2.105 trillion (actual)[2] 14.6% of GDP (actual)[3] |
Total expenditures | $3.107 trillion (estimated) $3.518 trillion (actual)[2] 24.4% of GDP (actual)[3] |
Deficit | $407 billion (requested) $1.413 trillion (actual)[2] 9.8% of GDP (actual)[3] |
Debt | $11.876 trillion (at fiscal end) 82.4% of GDP[4] |
GDP | $14.415 trillion[3] |
Website | Office of Management and Budget |
2010 › |
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The United States federal budget for fiscal year 2009 began as a spending request submitted by President George W. Bush to the 110th Congress. The final resolution written and submitted by the 110th Congress to be forwarded to the President was approved by the House on June 5, 2008.[5]
The government was initially funded through three temporary continuing resolutions. Final funding for the Department of Defense, Department of Homeland Security, and Department of Veterans Affairs was enacted on September 30, 2008 as part of the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, while the remaining departments and agencies were funded as part of an omnibus spending bill, the Omnibus Appropriations Act, 2009, on March 10, 2009.[6]
Total receipts[edit]
2009 Actual Receipts by Source
Social Security/other payroll tax (41.1%)
Excise tax (3.2%)
Deposits of earnings and Federal Reserve System (1.3%)
Customsduties (1.1%)
(in billions of dollars)
Source | Requested[7] | Enacted[8] | Actual[9] |
---|---|---|---|
Individual income tax | 1,259 | 958 | 915 |
Corporate income tax | 339 | 165 | 138 |
Social Security and other payroll tax | 949 | 898 | 891 |
Excise tax | 69 | 71 | 62 |
Estate and gift taxes | 26 | 28 | 23 |
29 | 24 | 22 | |
Deposits of earnings and Federal Reserve System | - | 28 | 34 |
Other miscellaneous receipts | 28 | 16 | 18 |
Total | 2,700 | 2,186 | 2,105 |
Receipts 1 4 9 X 2
Total spending[edit]
A dot plot representing spending by category for the US budget for 2009
The 110th Congress' budget for 2009 totaled $3.1 trillion. Percentages in parentheses indicate percentage change compared to 2008. This budget request is broken down by the following expenditures: Buzzbundle 2 55 8.
- Mandatory spending: $1.89 trillion (+6.2%)
- $644 billion – Social Security
- $408 billion – Medicare
- $224 billion – Medicaid and the State Children's Health Insurance Program (SCHIP)
- $360 billion – Unemployment/Welfare/Other mandatory spending
- $260 billion – Interest on National Debt
- Discretionary spending: $1.21 trillion (+8.6%)
- $515.4 billion – United States Department of Defense
- $145.2 billion (2008*) – Global War on Terror
- $70.4 billion – United States Department of Health and Human Services
- $68.2 billion – United States Department of Transportation
- $45.4 billion – United States Department of Education
- $44.8 billion – United States Department of Veterans Affairs
- $38.5 billion – United States Department of Housing and Urban Development
- $38.3 billion – State and Other International Programs
- $37.6 billion – United States Department of Homeland Security
- $25.0 billion – United States Department of Energy
- $20.8 billion – United States Department of Agriculture
- $20.3 billion – United States Department of Justice
- $17.6 billion – National Aeronautics and Space Administration
- $12.5 billion – United States Department of the Treasury
- $10.6 billion – United States Department of the Interior
- $10.5 billion – United States Department of Labor
- $8.4 billion – Social Security Administration
- $7.1 billion – United States Environmental Protection Agency
- $6.9 billion – National Science Foundation
- $6.3 billion – Judicial branch (United States federal courts)
- $4.7 billion – Legislative branch (United States Congress)
- $4.7 billion – United States Army Corps of Engineers
- $0.4 billion – Executive Office of the President
- $0.7 billion – Small Business Administration
- $7.2 billion – Other agencies
- $39.0 billion (2008*) – Other Off-budget Discretionary Spending
The financial cost of the Iraq War and the War in Afghanistan are not part of the defense budget; they were appropriations. 360 panorama stitching online.
Deficit[edit]
Decreased tax revenue and high spending resulted in an unusually large budget deficit of about $1.4 trillion, well above the $407 billion projected in the FY 2009 budget.[10] A 2009 CBO report indicated that $245 billion, about half of the excess spending, was a result of the 2008 TARP bailouts. Spending increases and tax credits resulting from the American Recovery and Reinvestment Act of 2009 accounted for another $200 billion of the budget deficit.
References[edit]
- ^'Fiscal Year 2009 Managing for Results'. Fiscal Year 2009 Managing for Results. archives.gov. February 4, 2008. Retrieved March 20, 2015.
- ^ abc'Summary Tables'. 2011 Budget of the U.S. Government. United States Office of Management and Budget. February 1, 2010. Retrieved December 8, 2011.
- ^ abcd'Table 1.2—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–) AS PERCENTAGES OF GDP: 1930–2020'(PDF). Government Publishing Office. Retrieved October 8, 2015.
- ^'Fiscal Year 2016 Budget Historical Tables'(PDF). Office of Management and Budget. Archived from the original(PDF) on October 21, 2015. Retrieved October 8, 2015.
- ^'Final Vote Results for Roll Call 382'. United States House of Representatives. June 5, 2008. Retrieved December 14, 2012.
- ^'Appropriations for Fiscal Year 2009'. U.S. Congress. Retrieved March 31, 2018.
- ^'2009 Public Budget Database'. Fiscal Year 2009 Public Budget Database. United States Office of Management and Budget. Receipts: Public Budget Database. Retrieved March 14, 2015.
- ^'Summary Tables'(PDF). Fiscal Year 2010 Budget of the U.S. Government. United States Office of Management and Budget. Table S–4: Proposed Budget by Category. Retrieved March 14, 2015.
- ^'Summary Tables'(PDF). Fiscal Year 2011 Budget of the U.S. Government. United States Office of Management and Budget. Table S–4: Proposed Budget by Category. Retrieved March 14, 2015.
- ^'Budget of the US Government, FY 2011'(PDF). Office of Management and Budget. Archived from the original(PDF) on July 7, 2011. Retrieved July 21, 2011.
Receipts 1 4 9 Equals
External links[edit]
Retrieved from 'https://en.wikipedia.org/w/index.php?title=2009_United_States_federal_budget&oldid=977997326'
(a)General rule.Income although not actually reduced to a taxpayer's possession is constructively received by him in the taxable year during which it is credited to his account, set apart for him, or otherwise made available so that he may draw upon it at any time, or so that he could have drawn upon it during the taxable year if notice of intention to withdraw had been given. However, income is not constructively received if the taxpayer's control of its receipt is subject to substantial limitations or restrictions. Thus, if a corporation credits its employees with bonus stock, but the stock is not available to such employees until some future date, the mere crediting on the books of the corporation does not constitute receipt. In the case of interest, dividends, or other earnings (whether or not credited) payable in respect of any deposit or account in a bank, building and loan association, savings and loan association, or similar institution, the following are not substantial limitations or restrictions on the taxpayer's control over the receipt of such earnings:
(1) A requirement that the deposit or account, and the earnings thereon, must be withdrawn in multiples of even amounts;
Receipts 1 4 9 0
(2) The fact that the taxpayer would, by withdrawing the earnings during the taxable year, receive earnings that are not substantially less in comparison with the earnings for the corresponding period to which the taxpayer would be entitled had he left the account on deposit until a later date (for example, if an amount equal to three months' interest must be forfeited upon withdrawal or redemption before maturity of a one year or less certificate of deposit, time deposit, bonus plan, or other deposit arrangement then the earnings payable on premature withdrawal or redemption would be substantially less when compared with the earnings available at maturity); Dearmob iphone manager 4 2 gb.
(3) A requirement that the earnings may be withdrawn only upon a withdrawal of all or part of the deposit or account. However, the mere fact that such institutions may pay earnings on withdrawals, total or partial, made during the last three business days of any calendar month ending a regular quarterly or semiannual earnings period at the applicable rate calculated to the end of such calendar month shall not constitute constructive receipt of income by any depositor or account holder in any such institution who has not made a withdrawal during such period;
Receipts 1 4 90
(4) A requirement that a notice of intention to withdraw must be given in advance of the withdrawal. In any case when the rate of earnings payable in respect of such a deposit or account depends on the amount of notice of intention to withdraw that is given, earnings at the maximum rate are constructively received during the taxable year regardless of how long the deposit or account was held during the year or whether, in fact, any notice of intention to withdraw is given during the year. However, if in the taxable year of withdrawal the depositor or account holder receives a lower rate of earnings because he failed to give the required notice of intention to withdraw, he shall be allowed an ordinary loss in such taxable year in an amount equal to the difference between the amount of earnings previously included in gross income and the amount of earnings actually received. See section 165 and the regulations thereunder.
(b)Examples of constructive receipt.Amounts payable with respect to interest coupons which have matured and are payable but which have not been cashed are constructively received in the taxable year during which the coupons mature, unless it can be shown that there are no funds available for payment of the interest during such year. Dividends on corporate stock are constructively received when unqualifiedly made subject to the demand of the shareholder. However, if a dividend is declared payable on December 31 and the corporation followed its usual practice of paying the dividends by checks mailed so that the shareholders would not receive them until January of the following year, such dividends are not considered to have been constructively received in December. Generally, the amount of dividends or interest credited on savings bank deposits or to shareholders of organizations such as building and loan associations or cooperative banks is income to the depositors or shareholders for the taxable year when credited. However, if any portion of such dividends or interest is not subject to withdrawal at the time credited, such portion is not constructively received and does not constitute income to the depositor or shareholder until the taxable year in which the portion first may be withdrawn. Accordingly, if, under a bonus or forfeiture plan, a portion of the dividends or interest is accumulated and may not be withdrawn until the maturity of the plan, the crediting of such portion to the account of the shareholder or depositor does not constitute constructive receipt. In this case, such credited portion is income to the depositor or shareholder in the year in which the plan matures. However, in the case of certain deposits made after December 31, 1970, in banks, domesticbuilding and loan associations, and similar financial institutions, the ratable inclusion rules of section 1232(a)(3) apply. See § 1.1232-3A. Accrued interest on unwithdrawn insurance policydividends is gross income to the taxpayer for the first taxable year during which such interest may be withdrawn by him.
[T.D. 6723, 29 FR 5342, Apr. 21, 1964, as amended by T.D. 7154, 36 FR 24997, Dec. 28, 1971; T.D. 7663, 44 FR 76782, Dec. 28, 1979]