Key Takeaways
- In fiscal year 2023, the U.S. federal government total outlays reached $6.13 trillion, with mandatory spending accounting for $3.8 trillion or 62% of the total.
- U.S. federal discretionary spending in FY2023 was $1.7 trillion, split evenly between defense ($886 billion) and nondefense ($820 billion).
- In 2022, U.S. federal revenues totaled $4.9 trillion, with individual income taxes contributing 50% or $2.45 trillion.
- As of September 2023, the U.S. federal civilian workforce numbered 2.92 million employees.
- In 2022, U.S. federal executive branch employees totaled 2.1 million, excluding postal service.
- The U.S. Department of Defense had 775,000 civilian employees in 2023.
- In the 118th Congress (2023-2024), the U.S. House of Representatives passed 27 public laws.
- U.S. Senate confirmed 234 judicial nominees in 2023.
- From 2021-2023, Congress enacted 362 public laws.
- U.S. voter turnout in the 2020 presidential election was 66.6%, highest since 1900.
- In 2020, 159.7 million Americans voted in the presidential election.
- U.S. midterm election turnout in 2022 reached 47.5% of voting-eligible population.
- As of October 2023, U.S. public debt held by the public was $26.3 trillion.
- U.S. debt-to-GDP ratio reached 98% in 2023.
- Intragovernmental holdings of U.S. debt were $7.0 trillion in 2023.
Federal spending exceeds revenue, creating large deficits and a growing national debt.
Electoral Processes
- U.S. voter turnout in the 2020 presidential election was 66.6%, highest since 1900.
- In 2020, 159.7 million Americans voted in the presidential election.
- U.S. midterm election turnout in 2022 reached 47.5% of voting-eligible population.
- 81 million votes cast for Joe Biden in 2020, 47% of total votes.
- Donald Trump received 74 million votes in 2020, 43% of electorate.
- Voter registration rates: 77% of citizens 18+ registered in 2020.
- Absentee and mail-in ballots comprised 46% of votes in 2020 U.S. election.
- Early voting used by 101 million Americans in 2020, 65% of total.
- Youth turnout (18-29) was 55% in 2020, up from 50% in 2016.
- Black voter turnout hit 62.6% in 2020, highest on record.
- Hispanic turnout rose to 53.7% in 2020 from 47.7% in 2016.
- Women cast 68% of votes in 2020, men 32%.
- College-educated voters favored Democrats 62-37% in 2020.
- Non-college whites voted 65-33% for Trump in 2020.
- Campaign spending in 2020 U.S. election totaled $14.4 billion.
- Super PACs spent $6.6 billion in 2020 federal elections.
- FEC reported 15,000 federal candidates in 2022 cycle.
- Ballot initiatives: 149 on ballots in 2022 across 37 states.
- Voter ID laws in 36 states as of 2023.
- Automatic voter registration in 24 states and DC as of 2023.
- Ranked-choice voting used in 52 jurisdictions in 2023.
- U.S. House incumbents reelected at 94% rate in 2022.
- Senate incumbents won 84% in 2022 midterms.
- Presidential approval ratings averaged 41% for Biden in 2023.
- Gerrymandering: 187 districts rated competitive in 2022.
- FEC enforcement cases: 2,500 in 2022.
Electoral Processes Interpretation
Fiscal Policy and Budgeting
- In fiscal year 2023, the U.S. federal government total outlays reached $6.13 trillion, with mandatory spending accounting for $3.8 trillion or 62% of the total.
- U.S. federal discretionary spending in FY2023 was $1.7 trillion, split evenly between defense ($886 billion) and nondefense ($820 billion).
- In 2022, U.S. federal revenues totaled $4.9 trillion, with individual income taxes contributing 50% or $2.45 trillion.
- The U.S. Congressional Budget Office projects federal deficits to average 5.5% of GDP from 2024-2033.
- In FY2022, U.S. federal spending on Medicare was $748 billion, representing 12% of total federal outlays.
- U.S. federal interest payments on debt in FY2023 amounted to $659 billion, up 30% from the previous year.
- In 2023, U.S. federal grants to state and local governments totaled $1.2 trillion, focused on health and transportation.
- The U.S. deficit for FY2023 was $1.7 trillion, or 6.3% of GDP.
- Federal spending on veterans' benefits in FY2023 reached $301 billion, including disability compensation.
- U.S. federal R&D spending in FY2023 was $201 billion, with 42% allocated to health research.
- In 2022, corporate income taxes generated $425 billion for the U.S. federal government, 9% of total revenues.
- U.S. federal education spending in FY2023 was $79 billion at the federal level, excluding state aid.
- Homeland security discretionary spending in FY2023 was $108 billion for the U.S. government.
- U.S. federal housing assistance programs disbursed $54 billion in FY2022.
- Energy and environment federal outlays in FY2023 totaled $46 billion for the U.S.
- U.S. federal international affairs spending in FY2023 was $60 billion, including foreign aid.
- Federal agriculture subsidies in FY2022 amounted to $28 billion in the U.S.
- U.S. federal justice system spending in FY2023 was $58 billion.
- Federal natural resources spending in FY2023 reached $44 billion in the U.S.
- U.S. federal community development block grants disbursed $3.3 billion in FY2022.
- Federal transportation outlays in FY2023 were $109 billion for highways and transit in the U.S.
- U.S. federal food and nutrition assistance spending in FY2023 was $182 billion.
- Federal science funding outside of health in FY2023 totaled $40 billion in the U.S.
- U.S. federal unemployment insurance outlays peaked at $552 billion in FY2021 but fell to $32 billion in FY2023.
- Federal earned income tax credit payments in 2022 were $73 billion in the U.S.
- U.S. federal child tax credit expenditures reached $119 billion in 2022.
- Federal supplemental nutrition assistance program (SNAP) spending was $119 billion in FY2023.
- U.S. federal Medicaid spending in FY2023 was $616 billion.
- Federal deposit insurance fund maintained $123 billion in reserves as of 2023.
- U.S. federal crop insurance subsidies cost $10 billion in premiums subsidized in FY2022.
Fiscal Policy and Budgeting Interpretation
Government Workforce and Administration
- As of September 2023, the U.S. federal civilian workforce numbered 2.92 million employees.
- In 2022, U.S. federal executive branch employees totaled 2.1 million, excluding postal service.
- The U.S. Department of Defense had 775,000 civilian employees in 2023.
- U.S. federal Veterans Affairs Department employed 409,000 in 2023.
- In FY2023, U.S. federal agencies spent $23 billion on employee compensation and benefits.
- U.S. Postal Service employed 640,000 career employees as of 2023.
- The U.S. Department of Homeland Security had 240,000 employees in 2023.
- Federal judicial branch employees numbered 31,000 in 2022.
- U.S. Treasury Department workforce was 115,000 in FY2023.
- Department of Justice employed 113,000 personnel in 2023.
- U.S. Department of Agriculture had 100,000 employees in 2023.
- Federal Aviation Administration workforce reached 45,000 in 2023.
- U.S. Environmental Protection Agency employed 15,000 staff in 2023.
- Department of Energy civilian workforce was 15,200 in 2023.
- U.S. Department of the Interior had 70,000 employees in 2023.
- Federal Bureau of Investigation workforce totaled 35,000 in 2023.
- U.S. Department of Education employed 4,100 in 2023.
- NASA workforce was 18,000 civil servants in 2023.
- U.S. Department of Transportation had 55,000 employees in 2023.
- Social Security Administration employed 60,000 in 2023.
- U.S. Department of Health and Human Services workforce was 87,000 in 2023.
- Internal Revenue Service had 80,000 employees in 2023.
- Federal Reserve System employed 20,000 across its system in 2023.
- U.S. Government Accountability Office had 3,100 staff in 2023.
- Congressional Budget Office employed 270 in 2023.
- U.S. Capitol Police force numbered 2,100 officers in 2023.
Government Workforce and Administration Interpretation
Legislative Activities
- In the 118th Congress (2023-2024), the U.S. House of Representatives passed 27 public laws.
- U.S. Senate confirmed 234 judicial nominees in 2023.
- From 2021-2023, Congress enacted 362 public laws.
- The 117th Congress (2021-2022) introduced 14,000 bills, with 365 becoming law.
- U.S. House of Representatives held 1,200 committee hearings in 2023.
- Senate passed 95 bills into law during the 117th Congress.
- In 2023, Congress appropriated $1.7 trillion in the omnibus spending bill.
- U.S. Congress enacted the Infrastructure Investment and Jobs Act in 2021, authorizing $1.2 trillion over 5 years.
- The CHIPS and Science Act of 2022 allocated $280 billion for semiconductors and research.
- Inflation Reduction Act of 2022 raised $738 billion in revenue while spending $391 billion on climate.
- U.S. Congress overrode 1 presidential veto in the 20th century (last in 1986).
- House Ways and Means Committee marked up 150 bills in 2023.
- Senate Judiciary Committee held 120 hearings in 2023.
- U.S. Code contains over 50 titles with 54,000 sections as of 2023.
- Congress amended the tax code 4,680 times between 2001-2017.
- In 2023, filibusters in the Senate delayed 250 nominations.
- U.S. House passed 800 resolutions in 2023.
- Bipartisan bills accounted for 65% of enacted laws in 117th Congress.
- Congressional Review Act resolutions nullified 20 rules in 2023.
- U.S. Congress authorized 1,200 earmarks worth $22 billion in FY2024.
- House Oversight Committee investigated 50 topics in 2023.
- Senate passed the National Defense Authorization Act annually for 62 years straight as of 2023.
- U.S. regulatory agenda listed 4,000 rules in 2023.
- Congress enacted 12 appropriations bills late in FY2023 via continuing resolutions.
- House Freedom Caucus blocked 15 bills in 2023.
Legislative Activities Interpretation
Public Debt and Borrowing
- As of October 2023, U.S. public debt held by the public was $26.3 trillion.
- U.S. debt-to-GDP ratio reached 98% in 2023.
- Intragovernmental holdings of U.S. debt were $7.0 trillion in 2023.
- Foreign holders owned $7.6 trillion of U.S. public debt in June 2023.
- Japan held $1.1 trillion in U.S. Treasury securities in 2023.
- China held $859 billion in U.S. Treasuries as of 2023.
- U.S. Federal Reserve held $5.3 trillion in Treasuries in 2023.
- Average interest rate on U.S. marketable debt was 2.5% in FY2023.
- U.S. gross federal debt hit $33.3 trillion in September 2023.
- CBO projects U.S. debt to reach 110% of GDP by 2033.
- U.S. Treasury issued $23 trillion in securities in FY2023.
- Mutual funds held $4.8 trillion in U.S. Treasuries in 2023.
- State and local governments held $1.3 trillion in federal debt in 2023.
- U.S. pension funds owned $1.1 trillion of Treasuries in 2023.
- Interest costs on U.S. debt projected to hit $1 trillion annually by 2028.
- U.S. debt ceiling raised 78 times since 1960.
- 30-year Treasury bonds averaged 4.1% yield in 2023.
- U.S. T-bills outstanding reached $5.9 trillion in 2023.
- Corporate holdings of Treasuries were $2.2 trillion in 2023.
- U.S. debt service coverage ratio was 4.5% of revenues in 2023.
- IMF estimates U.S. general government gross debt at 123% of GDP in 2023.
- U.S. Treasury cash balance averaged $700 billion in 2023.
- Contingent liabilities like Fannie Mae added $7 trillion to U.S. debt risk in 2023.
- U.S. net interest payments were 10.5% of federal spending in FY2023.
Public Debt and Borrowing Interpretation
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