Federal Budget Summary

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Slate's daily Kindle edition recently included an article by Eliot Spitzer on the federal budget. Here are the big facts:

a. Spending is about $3.8 trillion.
b. Revenue is about $2.5 trillion.
c. This leaves a deficit of about $1.3 trillion.

The budget is allocated thusly:

a. Defense—about $900 billion.
b. Social Security—$730 billion.
c. Medicare—$490 billion.
d. Medicaid—$300 billion.
e. Interest—$250 billion.
f. Nondefense discretionary—$610 billion.

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