With $1.7 trillion in discretionary funds shaping our national priorities and over 24 million dedicated public servants turning policy into action, understanding the immense scale and intricate machinery of the U.S. Government Industry is more crucial than ever.
Key Takeaways
- In FY 2023, U.S. federal government discretionary spending totaled $1.7 trillion, representing 25% of total federal outlays.
- Mandatory spending in the U.S. federal budget for FY 2023 reached $3.8 trillion, primarily on Social Security, Medicare, and Medicaid.
- U.S. federal defense spending in FY 2023 was $877 billion, accounting for 13% of the total budget.
- In 2022, U.S. federal civilian employment totaled 2.1 million employees.
- U.S. Postal Service employed 640,000 workers in 2022.
- Department of Defense civilian workforce in 2023 was 780,000 employees.
- In FY 2023, U.S. federal individual income tax revenue was $2.2 trillion.
- Corporate income tax revenue for U.S. federal in FY 2023 totaled $420 billion.
- Payroll taxes (Social Security and Medicare) generated $1.6 trillion in FY 2023.
- U.S. public debt held by the public reached $26.3 trillion in FY 2023.
- Intragovernmental holdings of U.S. debt were $7.0 trillion in 2023.
- U.S. debt-to-GDP ratio was 98% at end of FY 2023.
- Federal government procurement spending efficiency: GAO reports 10-20% waste in contracts.
- U.S. federal improper payments totaled $236 billion in FY 2022.
- IT modernization lags: 80% of federal systems are legacy per 2023 GAO.
The U.S. federal budget reveals immense spending on mandatory programs and defense.
Government Debt
1U.S. public debt held by the public reached $26.3 trillion in FY 2023.
Verified2Intragovernmental holdings of U.S. debt were $7.0 trillion in 2023.
Verified3U.S. debt-to-GDP ratio was 98% at end of FY 2023.
Verified4Federal deficit for FY 2023 was $1.7 trillion.
Directional5Interest costs on U.S. public debt projected to reach $1 trillion by 2025.
Single source630% of U.S. marketable debt matures within 1 year as of 2023.
Verified7Foreign holders of U.S. debt: $7.6 trillion in Dec 2023.
Verified8Japan holds $1.1 trillion of U.S. Treasury securities in 2023.
Verified9China holds $775 billion of U.S. debt in Dec 2023.
Directional10Federal debt limit suspended until Jan 2025.
Single source11State and local government debt outstanding: $3 trillion in 2022.
Verified12U.S. municipal bond market size: $4 trillion in 2023.
Verified13Average credit rating for U.S. Treasuries: AAA but downgraded to AA+ by Fitch in 2023.
Verified14Debt service as % of federal revenue: 10% in FY 2023.
Directional15U.S. gross federal debt: $33.2 trillion as of Oct 2023.
Single source16Social Security Trust Fund holds $2.8 trillion in Treasuries in 2023.
Verified17Medicare HI Trust Fund assets: $200 billion in 2023.
Verified18Unfunded liabilities for federal entitlements estimated at $75 trillion over 75 years.
Verified19Primary deficit excluding interest: $1 trillion in FY 2023.
Directional20U.S. debt held by Federal Reserve: $5.2 trillion in 2023.
Single source21Household holdings of Treasuries: under 5% of total debt in 2023.
Verified22Pension funds hold 10% of U.S. marketable debt.
Verified23Projected debt-to-GDP: 122% by 2033 per CBO.
Verified24State pension debt unfunded: $1.4 trillion in 2022.
Directional25Local government OPEB liabilities: $600 billion unfunded.
Single source26U.S. Treasury yield curve inverted in 2023 signaling recession risks tied to debt.
VerifiedGovernment Debt Interpretation
The United States has become so adept at writing IOU's to itself and the world that we're now throwing a trillion-dollar annual interest party where the only confirmed guests are future taxpayers and a nagging sense of fiscal vertigo.
Government Efficiency
1Federal government procurement spending efficiency: GAO reports 10-20% waste in contracts.
Verified2U.S. federal improper payments totaled $236 billion in FY 2022.
Verified3IT modernization lags: 80% of federal systems are legacy per 2023 GAO.
Verified4Regulatory compliance cost to businesses: $2 trillion annually per studies.
Directional5Federal workforce productivity growth: 0.5% annually 2010-2020.
Single source6Permitting delays for infrastructure average 4.5 years per project.
Verified7Tax code complexity: 4.3 million words, 70,000+ pages in 2023.
Verified8Federal grants to states: $800 billion with 20% administrative overhead.
Verified9Duplicative programs: GAO identified 100+ overlapping in 2023.
Directional10E-government adoption: 60% of services digitized by 2023.
Single source11Federal real property: 20% underutilized per GSA reports.
Verified12Acquisition savings from better practices: $100 billion potential annually.
Verified13Telework reduces federal office space needs by 25%.
Verified14Cybersecurity incidents: 20,000+ reported federally in 2023.
Directional15VA wait times average 20 days for new appointments in 2023.
Single source16IRS audit rate for millionaires: 2.4% vs historical 8%.
Verified17Medicare fraud losses: $60 billion annually estimated.
Verified18SNAP error rate: 11.4% improper payments in 2022.
Verified19Federal student aid default rate: 12% for 2023 cohort.
Directional20Infrastructure bill execution: only 10% of funds obligated by mid-2023.
Single source21Pandemic relief fraud: $200 billion estimated losses.
Verified22Federal R&D ROI: $5 benefit per $1 invested historically.
Verified23Passport processing time: 6-8 weeks average in 2023.
Verified24SBA loan approval rate: 55% for small businesses in 2023.
DirectionalGovernment Efficiency Interpretation
The federal government's staggering inefficiency is a tragicomic symphony of waste, fraud, and delay, where every step forward is mired in a billion-dollar bureaucracy of its own making.
Government Employment
1In 2022, U.S. federal civilian employment totaled 2.1 million employees.
Verified2U.S. Postal Service employed 640,000 workers in 2022.
Verified3Department of Defense civilian workforce in 2023 was 780,000 employees.
Verified4Veterans Affairs Department employed 450,000 in 2023.
Directional5U.S. federal executive branch employment excluding Postal Service was 1.87 million in Dec 2023.
Single source6State government employment in the U.S. reached 5.3 million in 2023.
Verified7Local government employment totaled 14.8 million workers in 2023.
Verified8U.S. public education employment at state and local levels was 8.1 million in 2023.
Verified9Federal government average annual pay in 2022 was $95,000.
Directional10State government average wages in 2023 were $62,000 annually.
Single source11Local government average annual wages in 2023 stood at $55,000.
Verified12U.S. federal workforce diversity: 40% women in 2023.
Verified1318% of federal employees were veterans in 2023.
Verified14Turnover rate in federal government was 8.5% in 2022.
Directional15U.S. state and local government pension plans covered 15 million active employees in 2022.
Single source16Federal retirement contributions averaged 4.4% of payroll in 2023.
Verified1725% of federal employees have advanced degrees in 2023.
Verified18U.S. government hospital employment at state/local level was 800,000 in 2023.
Verified19Police protection employment in local government: 800,000 officers in 2023.
Directional20Fire protection local government employment: 350,000 in 2023.
Single source21U.S. correctional institution employment at state/local: 450,000 in 2023.
Verified22Federal air traffic controllers numbered 14,000 in 2023.
Verified23IRS employed 80,000 in 2023.
Verified24FBI workforce was 35,000 in 2023.
Directional25TSA screened 800 million passengers with 60,000 employees in 2023.
Single source26U.S. Park Service rangers and staff: 20,000 in 2023.
Verified27Federal judiciary employed 30,000 in 2023.
Verified28State legislatures total members: 7,383 in 2023.
Verified29Local government elected officials: over 500,000 in U.S.
Directional30Federal telework participation rate: 25% full-time in 2023.
Single source31U.S. federal hiring increased by 2% in 2023.
VerifiedGovernment Employment Interpretation
The sheer scale of American governance is revealed not just in its 14.8 million local public servants—from teachers and police officers to park rangers—who form the bedrock of daily life, but also in the intricate federal machinery that supports defense, delivers mail, and collects taxes, all while navigating a complex tapestry of pay scales, pensions, and a workforce that is increasingly diverse, educated, and occasionally working from home.
Government Revenue
1In FY 2023, U.S. federal individual income tax revenue was $2.2 trillion.
Verified2Corporate income tax revenue for U.S. federal in FY 2023 totaled $420 billion.
Verified3Payroll taxes (Social Security and Medicare) generated $1.6 trillion in FY 2023.
Verified4Excise taxes brought in $87 billion to U.S. federal coffers in FY 2023.
Directional5Estate and gift taxes revenue was $34 billion in FY 2023 federally.
Single source6Customs duties revenue for U.S. in FY 2023 was $80 billion.
Verified7Federal Reserve earnings remitted $116 billion to Treasury in 2023.
Verified8State individual income tax collections totaled $500 billion in FY 2022.
Verified9Local property tax revenue in U.S. was $600 billion in 2022.
Directional10Sales and gross receipts taxes at state level: $450 billion in FY 2022.
Single source11U.S. federal tax gap estimated at $688 billion for TY 2021.
Verified12Effective federal tax rate for top 1% was 25.9% in 2020.
Verified13Total U.S. federal receipts as % of GDP: 17.4% in FY 2023.
Verified14State sales tax average rate: 6.5% in 2023.
Directional15Corporate tax effective rate U.S. federal: 15.3% in 2022.
Single source16U.S. federal withholding taxes: $1.9 trillion in FY 2023.
Verified17State corporate income taxes: $100 billion in FY 2022.
Verified18Local sales taxes: $120 billion collected in 2022.
Verified19Federal miscellaneous taxes: $20 billion in FY 2023.
Directional20U.S. total tax revenue as % of GDP: 27% in 2022.
Single source21State severance taxes on natural resources: $25 billion in FY 2022.
Verified22Federal unemployment insurance taxes: $45 billion in FY 2023.
Verified23Local income taxes rare but totaled $30 billion where applicable in 2022.
Verified24U.S. federal refundable tax credits issued $300 billion in FY 2023.
Directional25State lottery revenue: $30 billion in FY 2022.
Single source26Federal spectrum auctions generated $85 billion since 1994, $2B in recent years.
VerifiedGovernment Revenue Interpretation
While individual taxpayers carry the bulk of the U.S. government's weight, corporations seem to have found a surprisingly cozy tax bracket, proving that in the grand fiscal scheme, the "people" section of "We the People" is doing most of the heavy lifting.
Government Spending
1In FY 2023, U.S. federal government discretionary spending totaled $1.7 trillion, representing 25% of total federal outlays.
Verified2Mandatory spending in the U.S. federal budget for FY 2023 reached $3.8 trillion, primarily on Social Security, Medicare, and Medicaid.
Verified3U.S. federal defense spending in FY 2023 was $877 billion, accounting for 13% of the total budget.
Verified4Non-defense discretionary spending by the U.S. federal government in FY 2023 amounted to $910 billion.
Directional5U.S. federal spending on interest payments on the debt in FY 2023 was $659 billion.
Single source6In FY 2022, U.S. federal grants to state and local governments totaled $721 billion.
Verified7U.S. federal spending on education in FY 2023 was approximately $80 billion.
Verified8Transportation and infrastructure federal spending in FY 2023 reached $108 billion.
Verified9U.S. federal health spending excluding Medicare and Medicaid in FY 2023 was $79 billion.
Directional10Veterans benefits spending by the U.S. federal government in FY 2023 totaled $301 billion.
Single source11U.S. federal agriculture spending in FY 2023 was $28 billion.
Verified12Energy and environment federal spending in FY 2023 amounted to $46 billion.
Verified13U.S. federal international affairs spending in FY 2023 was $60 billion.
Verified14General government operations spending in FY 2023 was $40 billion at the federal level.
Directional15U.S. federal net interest spending as a share of GDP in FY 2023 was 2.4%.
Single source16Social Security spending in FY 2023 totaled $1.3 trillion for the U.S. federal government.
Verified17Medicare spending in FY 2023 reached $839 billion federally.
Verified18Medicaid federal spending in FY 2023 was $584 billion.
Verified19U.S. federal unemployment insurance spending in FY 2023 was $32 billion.
Directional20Housing assistance federal spending in FY 2023 totaled $62 billion.
Single source21Food and nutrition assistance spending in FY 2023 was $182 billion federally.
Verified22Federal law enforcement and justice spending in FY 2023 was $57 billion.
Verified23Science and technology federal R&D spending in FY 2023 reached $201 billion.
Verified24U.S. federal community and regional development spending in FY 2023 was $55 billion.
Directional25Federal natural resources and environment spending in FY 2023 totaled $42 billion.
Single source26U.S. federal spending on income security programs in FY 2023 was $538 billion excluding Social Security.
Verified27Federal administration of justice spending in FY 2023 was $68 billion.
Verified28U.S. federal general science, space, and technology spending in FY 2023 was $40 billion.
Verified29Federal energy spending in FY 2023 amounted to $13 billion.
Directional30U.S. federal spending on deposit insurance in FY 2023 was minimal at under $1 billion.
Single sourceGovernment Spending Interpretation
The federal checkbook reveals a nation that has committed its largest promises to past and present citizens, then bickers over the remaining slice of pie while the interest on the tab grows ominously.
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