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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 | 3.0 | 3.3 | 3.3 | 3.4 | 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 | 3.0 | 3.3 | 3.3 | 3.4 | 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 October 10, 2025
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.
Suggested Video: All About Welfare
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MILITARY SPENDING details, budget and history.
ENTITLEMENT SPENDING history.
See BAR CHARTS of spending, debt.
Check STATE spending: CA NY TX FL and compare.
See SPENDING ANALYSIS briefing.
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Take a COURSE at Spending 101.
Make your own CUSTOM CHART.
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: | $37,889,756,572,760.44 | 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
State and Local Finances for 2023
On September 11, 2025 we updated the state and local spending and revenue for FY 2023 using the new Census Bureau State and Local Government Finances summaries for FY 2023 released on July 31, 2025. (See also Annual Survey of State and Local Government Finances). The release includes state and local spending for the United States as a whole and the 50 individual states and the District of Columbia.
State and local spending and revenue for FY2023 are now actual historical spending as reported by the Census Bureau. In addition, the Census Bureau published updated tables for 2021 and 2022.
We have updated the "guesstimated" state and local finances for FY2024-30 as indicated in our "guesstimate" blog entries.
We have also updated data for individual local government units with data for 2023.
Beginning in 2022 the Census Bureau has changed the value for Line 56 Direct Expenditure and Line 7 General Revenue from own sources, as follows:
We have decided to end our publication of non-insurance trust cash and security holdings.
However, to keep the time series at usgovernmentspending.com consistent, we have decided to add insurance-trust values back into Line 56 and Line 7 values.
In March 2025 the US Census Bureau released data on state finances for FY 2023 here and ...
On June 24, 2025, usgovernmentspending.com updated its data for agency debt from the Federal Reserve Board database. Data is now available for the period 1945-2024. You can see our Agency Debt page ...
> 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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