The 2008 National Budget

I’ve been on a finance related theme lately.  Yesterday I added this kind of cool debt clock on the right side of the page but quickly got depressed at the size of our over commitment.  So what is it exactly that we get for our exorbitant taxes and huge national debt?

Well, first there’s the big ticket items like: Social Security … who would want our retirees to go hungry, National Defense … gotta pay for those $700.00 toilet seats, Interest on debt … people don’t loan money for free, welfare … we also don’t want anyone too lazy to work going hungry ;), etc.  But there’s also a number of other pricey items that you may not have expected.  Such as $10 billion for the IRS.. they’re taxing us so they can tax us!  There’s also almost $100 million for unused plane tickets.  If that’s not enough we also have large amounts of dollars that are being spent that weren’t budgeted.  For instance, in 2003, nearly $25 billion was spent but not accounted for.  Someone or several someones are sitting pretty with all of those tax dollars.

2008 National Budget

Category Amount Budgeted
Social Security $608,000,000,000.00
Medicare $386,000,000,000.00
Medicaid and SCHIP $209,000,000,000.00
Unemployment / Welfare / Other $324,000,000,000.00
Interest on National Debt $261,000,000,000.00
National Defense $481,400,000,000.00
War on Terror $145,200,000,000.00
Health and Human Services $69,300,000,000.00
Department of Education $56,000,000,000.00
Department of Veteran Affairs $39,400,000,000.00
Department of Housing and Urban
Development
$35,200,000,000.00
State & International Programs $35,000,000,000.00
Department of Homeland Security $34,300,000,000.00
Department of Energy $24,300,000,000.00
Department of Justice $20,200,000,000.00
Department of Agriculture $20,200,000,000.00
NASA $17,300,000,000.00
Department of Transportation $12,100,000,000.00
Department of Treasury $12,100,000,000.00
Department of the Interior $10,600,000,000.00
Department of Labor $10,600,000,000.00
Other $90,800,000,000.00