Federal Budget for FY24 Released

On March 10, 2023, we updated usgovernmentspending.com with the numbers from the Public Budget Database in the Budget of the United States Government for Fiscal Year 2024. 

Here is how headline budget estimates for the upcoming FY 2023 fiscal year have changed since the release of the FY 2023 budget a year ago in Winter 2021.

Federal Budget Changes for 2023

$ billion	Estimate for 2023 in FY2023 Budget	Estimate for 2023 in FY2024 Budget	Change
Federal Outlays	$5,792.1	$6,371.8	+$579.7
Federal Receipts	$4,638.2	$4,802.5	+$164.3
Federal Deficit	$1,153.9	$1,569.4	$315.5

You can see line item changes from budget to budget here. You can compare budget estimates with actuals here.

Account level spending estimates through FY 2028 come from the Outlays table in the Public Budget Database and were updated on usgovernmentspending.com on March 10, 2023.

Account level budget authority estimates through FY 2028 come from the Budget Authority table in the Public Budget Database and were updated on usgovernmentspending.com on March 10, 2023.

US GDP for 2022 Updated

On March 3, 2023 usgovernmentspending.com updated its GDP series with the latest data from the Bureau of Economic Analysis, under "Supplemental Information and Data" including nominal US GDP for calendar 2022 of $25.464 trillion and real US GDP  for calendar 2022 of $20.015 trillion in 2012 dollars. Real GDP is now expressed in 2012 dollars. GDP for years going back to 2015 have been revised by BEA.

Usgovernmentspending.com uses the BEA US GDP data series from 1929 to the present and measuringworth.com as its US GDP source from 1790 to 1928.