Breaking Down The U.S. Government's 2024 Fiscal Year 💵

What We're Showing

The U.S. government's final budget results for the fiscal year 2024, showing the total receipts and outlays.

Data comes from the U.S. Department of the Treasury. Fiscal year 2024 runs from Oct. 1, 2023 to Sept. 30, 2024.

Receipts are the total revenue the government collects from taxes and other income sources

Outlays are the total amount the government spends on public services, programs, and other expenses

Fiscal Gap Widening

The U.S. government is running a significant deficit of $1.83 trillion, an increase of $138 billion from FY 2023.

This marks the third-largest budget deficit in U.S. history, following the pandemic-related deficits of 2020 and 2021.

The largest portion of government receipts comes from individual income taxes, which account for $2.43 trillion of the total revenue, followed by Social Insurance & Retirement contributions at $1.71 trillion. Receipts increased by about $479 billion from FY 2023 to FY 2024.

The biggest spending categories for FY 2024 are Social Security at $1.46 trillion. Outlays increased by about $617 billion from FY 2023 to FY 2024.