National Priorities Project
By Jasmine Tucker
President Obama recently released his fiscal year 2016 budget proposal. 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?
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. 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.
These pictures tell the story of the priorities found in the president’s budget.
President’s Proposed 2016 Budget: Total Spending
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. 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. 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.
* Spending on Government (administration) is less than zero and omitted in the total spending pie chart. Lower than zero spending can occur when segments of government have surpluses from previous years that they return to the federal government.
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A family budget is one thing. Understanding our federal budget is something else. The President’s Proposed Fiscal Year 2016 Budget was released February 2, 2015.
However, with commitment and perseverance as well as internet resources one can gain in their understanding. Several resources are offered by the following. No doubt there are many others. Feel free to pass them along.
Fact sheet: Middle Class Economics: The President’s Fiscal Year 2016 Budget (White House Office of Management and Budget) Suggestion: Search “sequestration” in this article. You will find it used ten times.
Top Five Things You Need to Know About Obama’s FY2016 Budget Proposal (National Priorities Project) Tip: A link to the full report is at the bottom of this article.
Report: Analysis of the President’s FY 2016 Budget (The Committee for A Responsible Federal Budget) Snippet: “…the budget does far too little to reduce current debt levels nor slow the growth of entitlement spending over the long-run.”
Comments and questions (i.e., “Leave a reply”) are invited.
The National Priorities Project (NPP) is a source I frequently refer to. If not familiar with NPP I strongly encourage visiting at least NPP’s home page. I subscribe to their email list (no cost and only requires email and zip) and this can be done near the bottom of their home page.
NPP has an analysis of the recently passed spending bill and has some details not previously shared on this blog including:
Debt & Deficit
- Officially abides by the spending limits ($1.013 trillion) of the 2013 Ryan-Murray Bipartisan Budget Act.
- However, total spending is actually closer to $1.1 trillion, when you count emergency spending and appropriations from previous years that will actually be spent this year, bringing spending above the Bipartisan Budget Act limit.