Spending

Spending Analyses
Total Spending Analysis Federal Spending Analysis State Spending Analysis Local Spending Analysis
Entitlement Analyses
Entitlement Spending Analysis Social Security Analysis Medicare Analysis Medicaid Analysis Welfare Analysis
Education Analyses
Total Education Analysis Federal Education Analysis State Education Analysis Local Education Analysis
Federal Mandatory Spending Analysis
Interest Analyses
Total Interest Analysis Federal Interest Analysis State Interest Analysis Local Interest Analysis
Defense Analysis Great Enrichment Federal Grant Analysis US Inflation Analysis TARP Bailout Analysis
Revenue Analyses
Total Revenue Analysis Federal Revenue Analysis State Revenue Analysis Local Revenue Analysis
Federal Budget Analysis

Deficit – Debt

Federal Deficit Analysis Deficit Analysis as Percent GDP Deficit Analysis as Percent Spending
Debt Analyses
Total Debt Analysis Federal Debt Analysis State Debt Analysis Local Debt Analysis
Federal Yield Curve Analysis Federal Agency Debt Analysis

Spending 101

Spending 101 Courses Taxes 101 Courses

History

Current Spending Brief Recent Spending Brief Future Spending Brief Overall History Defense Spending History
Social Spending History
Entitlement Spending History Pensions Spending History Health Care Spending History Education Spending History Welfare Spending History
States Spending History Debt Deficit History Recent Debt History Agency Debt History Revenue History

Deficit Analysis

Federal Deficit Federal Deficit as Percent GDP Federal Deficit as Percent Spending Deficit History Download Deficit

Debt Analysis

Debt Clock
Debt Analyses
Total Debt Analysis Federal Debt Analysis State Debt Analysis Local Debt Analysis
Federal Agency Debt Analysis Debt History Recent Debt History Agency Debt History Download Debt

State Spending

State Spending Rank State Welfare Spending Rank State Debt Rank
State Spending Maps
Total State Spending Map Pension State Spending Map Health Care State Spending Map Education State Spending Map Welfare State Spending Map State Debt Map
State Spending Bubble Charts
Total State Spending Bubble Chart Pensions State Spending Bubble Chart Health State Spending Bubble Chart Education State Spending Bubble Chart Welfare State Spending Bubble Chart State Debt Bubble Chart
States GDP Rank States History Federal Spending by State States Taxes

Local Spending

County Rank City Rank District Rank Schools Rank Local Detail Local Charts Local Taxes

Headline

Total Spending Overview Federal Spending Overview State Spending Overview Local Spending Overview Total Spending in trillions Breakdown in trillions Breakdown as percent GDP Breakdown as per capita

US Spending Details

Spending Details Spending in Percent GDP Spending per Capita Spending Change
Spending Pie Charts
Total Spending Pie Chart Federal Spending Pie Chart State Spending Pie Chart Local Spending Pie Chart
Welfare Spending Defense Spending Pension Spending Health Care Spending Education Spending

Download

Download Central Download Year Spend Download Multi Years Download Deficit Download Debt Download Raw Data Download Taxes

Chart Galleries

Total Spending Federal Spending State Spending Local Spending Federal Budget Estimates Federal Budget Estimate vs. Actual Total Debt Federal Debt

Bar Charts

Make Spending Chart Make Local Spending Chart Make Federal Budget Chart Make Fed. Budget Chart Est. vs. Actual Make Debt Chart Social Security OASI Chart Social Security DI Chart
Medicare Charts
Overall Medicare Chart Medicare HI Chart Medicare SMI Chart Medicare Advantage Chart Medicare SMI Drug Chart
US GDP Chart Chart Wizard

Pie Charts

US Pie Chart Federal Pie Chart Federal Budget Pie Chart State Pie Chart State & Local Pie Chart Local Pie Chart

Current Budget

Current Budget FY2025 Chart Gallery Budget Outlays Actual Outlay Details Est. vs. Actual Outlays Budget Authority Estimated Budget Authority vs. Actual Revenue Budget

Budget Misc

Previous Budgets
FY2024 BudgetFY2023 BudgetFY2022 BudgetFY2021 BudgetFY2020 BudgetFY2019 Budget
Compare Budgets Interest Analysis CBO Long Term Medicare Trustees Soc. Security Trustees

Budget Bar Charts

Budget Forecasts Budget Estimate vs. Actual Custom Budget Chart Budget Est. vs. Actual Charts

Revenue Data

Taxes Home Revenue Totals Revenue Breakdown Revenue Details Revenue Change Chart Gallery Revenue Analysis Revenue History Revenue Budget State Taxes

Revenue Charts

Chart Gallery Make Custom Chart

Analysis & History

Revenue Analysis Revenue History
Taxes 101

FAQ

Data Sources Spending Category Definitions Federal Budget Medicare Breakdown State/Local Spending Federal/State GDP

FAQ cont.

US Population All About Welfare WWI WWII Defense All About "Guesstimates" Intergovernmental Transfers Feds Borrow More Than Deficit Data Update Schedule All FAQs

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Site Tour

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Saturday October 11, 2025 
compiled by Christopher Chantrill

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What is the Federal Yield Curve

The Federal Yield Curve is a graph showing the yield on US federal securities of all maturities from one month to 30 years. Experts believe that the shape of the yield curve forecasts future turns in the economy.

Federal Yield Analysis  

 

This page is an analysis of yields on US federal securities.

Latest Federal Yield Curve

Chart Y.01f: Latest Federal Yield Curve

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.

Federal Yield Curve for April 1, 2009

Chart Y.02f: Federal Yield Curve

At the bottom of a recession, as in April 2009, the federal yield curve is sharply positive. A sharply positive yield curve is a sign that the Federal Reserve Board is “fighting recession.”

Federal Yield Curve for November 28,2006

Chart Y.03f: Federal Yield Curve

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. An “inverted” yield curve is a sign that the Federal Reserve Board is “fighting inflation.”

Federal Yield Curve for June 2, 2008

Chart Y.04f: Federal Yield Curve

Make your own yield curve:

Note: If you select a weekend or holiday, you will get the day before.

Spending Analyses:

Debt, Deficit Analyses:

Numbers — Charts:

Suggested Video: Spending 101

Top Spending Requests:

Find DEFICIT stats and history.

Get WELFARE stats and history.

US BUDGET overview and pie chart.

Find NATIONAL DEBT today.

DOWNLOAD spending data or debt data.

See FEDERAL BUDGET breakdown and estimated vs. actual.

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.

See SPENDING HISTORY briefing.

Take a COURSE at Spending 101.

Make your own CUSTOM CHART.

Spending Data Sources

Spending data is from official government sources.

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.

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Spending 101 Courses

Spending | Federal Debt | Revenue | Defense | Welfare | Healthcare | Education
Debt History | Entitlements | Deficits | State Spending | State Taxes | State Debt


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email: chrischantrill@gmail.com

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More Topics

Federal Yield Curve
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Gross Federal Debt

Debt Now:  $37,889,756,572,760.44
Debt 2/2020:$23,409,959,150,243.63

Videos

 Spending 101

 What is the Deficit?

 All About Debt

 All About Welfare

 US Defense Spending

 Taxes 101

 All About Income Tax
 

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Spending 101

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Welfare Spending

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Data Sources for :

GDP: Samuel H. Williamson, "What Was the U.S. GDP Then?" MeasuringWorth, 2015.
Federal: Bicentennial Edition: Historical Statistics of the US, Colonial Times to 1970
State and Local: not available

> 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. 

State Spending for 2023
In March 2025 the US Census Bureau released data on state finances for FY 2023 here and  ...

Agency Debt Update for 2024
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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