| |
| Submitted | February 26, 2009[1] |
|---|---|
| Submitted by | Barack Obama |
| Submitted to | 111th Congress |
| Total revenue | $2.381 trillion (requested) $2.163 trillion (actual)[2] 14.6% of GDP (actual)[3] |
| Total expenditures | $3.552 trillion (requested) $3.456 trillion (actual)[2] 23.4% of GDP (actual)[3] |
| Deficit | $1.171 trillion (requested) $1.294 trillion (actual)[4] 8.7% of GDP (actual)[3] |
| Debt | $13.53 trillion (atfiscal end) 91.4% of GDP[5] |
| GDP | $14.799 trillion[3] |
| Website | Office of Management and Budget |
|
‹ 2009 2011› | |
The United States Federal Budget for Fiscal Year 2010, titled A New Era of Responsibility: Renewing America's Promise,[6] is a spending requestbyPresident Barack Obama to fund government operations for October 2009–September 2010. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2010, which must be authorized by Congress.
The government was initially funded through two temporary continuing resolutions. Final funding for the government was enacted as an omnibus spending bill, the Consolidated Appropriations Act, 2010, on December 16, 2009.[7]
Incoming President Barack Obama's budget request for FY 2010 totaled $3.55 trillion and was passed by Congress on April 29, 2009. Percentages in parentheses indicate percentage changes compared to FY 2009. A breakdown of Obama's budget request includes the following expenditures:[8]
2010 Actual Receipts by Source
(in billions of dollars):
| Source | Requested[9] | Enacted[10] | Actual[11] |
|---|---|---|---|
| Individual income tax | 1,061 | 936 | 899 |
| Corporate income tax | 222 | 157 | 191 |
| Social Security and other payroll tax | 940 | 875 | 865 |
| Excise tax | 77 | 73 | 67 |
| Estate and gift taxes | 20 | 17 | 19 |
| Customs duties | 23 | 24 | 25 |
| Deposits of earnings and Federal Reserve System | 22 | 77 | 76 |
| Allowance for jobs initiatives | - | −12 | - |
| Other miscellaneous receipts | 16 | 18 | 21 |
| Total | 2,381 | 2,165 | 2,163 |
The total deficit for fiscal year 2010 was $1.293 trillion.[11]
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