A (FY) Federal Budget (FY=Fiscal Year - meaning govt revenue/tax related and projected for the year. The actual budget will always exceed these figures).
In order to best understand the black budget and nuances of spending I suggest first reading:
https://dwahts.blogspot.com/2020/02/the-united-states-worlds-most-socialist.html
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(FY) Budgets are usually far too conservative to be adhered to, even a record $4.829 trillion federal budget proposal which was made for fiscal year (FY) 2021 on Feb. 5, 2020.1 The U.S. government estimates it will receive $3.863 trillion in revenue, creating a $966 billion deficit for Oct. 1, 2020, through Sept. 30, 2021.
The Congressional Budget Office predicted that the COVID-19 pandemic would raise the FY 2021 deficit to $2.1 trillion. The FY 2020 deficit will be $3.7 trillion.
Government spending is broken down into three categories:
- Mandatory spending, budgeted at $2.966 trillion;
- Discretionary spending, forecasted to be $1.485 trillion; and
- Interest on the national debt, estimated to be $378 billion.
Each category of spending has different subcategories.
The DEFICIT is the shortfall.
- President Trump’s budget for Fiscal Year (FY) 2021 totals $4.829 trillion, eclipsing all other previous budgets.
- Mandatory expenditures, such as Social Security, Medicare, and the Supplemental Nutrition Assistance Program account for over 50% of the budget, but much of this is considered profiteering by pharmaceutical companies or goes to Wall Street under the pretence of "good investment" but in reality these are all vultures after their piece of the pie.
- For FY 2021, budget expenditures exceed federal revenues by $966 billion.
- Most of these revenues come from taxes and earnings from QE.
- Case in point: Obama doubled the National debt with the 2008 bailouts. DOUBLED. There is no public shareholding in the banks for this even though its actually the taxpayer that is on the hook for the debt plus interests. Only bank shareholders enjoy the profit, but the banks lost pensions, properties and savings of ours won't be repaid to us. Take and debt is for the little people, the peasants, almost all of us.
Revenue
The federal government estimates it will receive $3.863 trillion in revenue in FY 2021. Most of the revenue is in the form of taxes, paid by taxpayers, either through income or payroll taxes. The estimate for each type of revenue is as follows:1
The IRS and Fed were set up in the same year. Income tax on wage earners was never paid before then on wages, only on Capital Gains tax. There is still no law requiring US citizens to pay income tax, it is voluntary, but the cabal in power is an illegal criminal organisation the controls all branches of govt and courts, they will coerce and threaten us into paint income tax to fund the world most oligarchical
- Income taxes contribute $1.932 trillion or 50% of total receipts.
- Social Security, Medicare, and other payroll taxes add $1.373 trillion or 36%.
- Corporate taxes supply $284 billion or 7%.
- Excise taxes and tariffs contribute $141 billion or 4%.
- Earnings from the Federal Reserve's holdings add $71 billion or 2%. Those are interest payments on the U.S. Treasury debt the Fed acquired through quantitative easing.
- Estate taxes and other miscellaneous revenue supply the remaining 1%.
Mandatory Spending
Mandatory spending is estimated at $2.966 trillion in FY 2021. This category includes entitlement programs such as Social Security, Medicare, and unemployment compensation. It also includes welfare programs such as Medicaid.
Social Security will be the biggest expense, budgeted at $1.151 trillion. It's followed by Medicare at $722 billion and Medicaid at $448 billion.
Social Security costs are currently 100% covered by payroll taxes and interest on investments. Until 2010, there was more coming into the Social Security Trust Fund than being paid out. Thanks to its investments, the Trust Fund is still running a surplus, a meaningless token gesture designed to create a perception of responsibility against the Trillion's the government of the US caters for allowing crooks to plunder your ney
The Trust Fund’s Board estimates that Social Security's surplus will be depleted by 2034.3 Social Security revenue, from payroll taxes and interest earned, in fact it will cover only 79% of the benefits promised to retirees, but that's a stretch, bank on half.
Medicare is already underfunded because taxes withheld for the program don't pay for all benefits. Congress must use tax dollars to pay for a portion of it. Medicaid is 100% funded by the general fund, also known as "America's Checkbook." This account is used to finance daily activities and long-term operations of the government.4
The discretionary budget for 2021 is $1.485 trillion.1 More than half goes toward military spending, including Homeland Security, the Department of Veterans Affairs, and other defense-related departments. The rest must pay for all other domestic programs. The largest of these programs are Health and Human Services, Education, and Housing and Urban Development.
There also is the Overseas Contingency Operations fund that pays for needless wars to enrich contractors and their investors, funding rogue states like Israel or continuing military actions. A growing portion of the discretionary budget is set aside for disaster relief such as hurricane and wildfire relief
Military spending is included in the budget under discretionary spending. The biggest expense for the military is the Department of Defense base budget, estimated at $636 billion.1
Overseas Contingency Operations are estimated to cost approximately $69 billion but in reality are far, FAR higher. It pays for the war OF terror costs triggered by the false flag psyop 9/11 attacks. These include ongoing costs from the wars in Iraq and Afghanistan.
Military spending is at least $700 billion itincludes $228 billion for defense-related departments. These include, spying on citizens, arresting whilsteblowers and tracing and bugginging you. Also includes Homeland Security, the State Department, and Veterans Affairs.
All these military costs combined equal $705 billion.
The budget deficit is estimated at $966 billion. That's the difference between $3.863 trillion in revenue and $4.829 trillion in spending. This shortfall is added to the existing national debt.
The Congressional Budget Office (CBO) projected in April that the budget deficit for 2021 would be about $2.1 trillion, assuming no additional changes to spending and revenues. The difference between the CBO projection and the Trump budget can be attributed mainly to the impact of the coronavirus fake pandemic. The CBO expects the real GDP to decrease by about 12% in the second quarter of 2020 and for unemployment to average about 14%.5 *That figure is a posture, since it does NOT include those no longer looking for work or unemployed over 6 months
Each president and their administration is credited or blamed with increases in national debt due to the budgets their administration proposes. The approval of the budget is delegated to Congress. In other words, it's not the president alone who bears the burden of deficit creation and national debt generation, he's the fall guy.—other elected officials do so as well tiny bit by making marking he
How the Deficit Contributes to the National Debt
Each year, the deficit adds to the U.S. debt. To raise funds to cover the deficit, the government issues securities such as Treasury notes, which are purchased by many investors. Japan and China are two countries whose governments have purchased large amounts of U.S. debt, in a manner of speaking owning the U.S. debt.6
An anticipated budget deficit can slow economic growth. It influences rising interest rates, as investors demand more return. Eventually, investors may become hesitant to purchase Treasury notes because they fear the U.S. government may not be able to repay the debt.
Congress created the budget process in 1974. The process is supposed to follow four steps:
- The Executive Office of Management and Budget prepares the budget.7
- The president submits it to Congress on or before the first Monday in February.
- Congress responds with spending appropriation bills that go to the president by June 30.
- The president has 10 days to reply.
Congress has followed the budget process only twice since creating the FY 2010 budget. Since that time, the process and deadlines within it have been ignored, due to political disagreements, posturing, and government inefficiencies.
The hard deadline for budget approval is September 30. If Congress doesn't approve it by then, the government can shut down. It did just that in 2013, in January 2018, and in December 2018. To avoid shutdowns, Congress usually passes continuing resolutions.8
If the government does shut down, it signals a complete breakdown in the budget creation process, or an attempt to appear as such to distract voters.
Where did all the bailout money go that is causing all this inflation due to expanding the currency supply? Not to you or I, it went to rich companies.
See HERE
The trillion dollar black budget is not covered here, but it must come from somewhere, I assert it is stolen from the American Taxpayer and the victims of US wars of aggression where US funded rebels function as weapons transporters to the terrorists trained by black ops. Oil and Opium are just two examples of how off-budget dark programs get their funding.
