Federal government spending in FY 2023 (October 2022 to September 2023) was down from a peak of $7.8 trillion in FY 2021, but still $847.1 billion higher than pre-pandemic levels (adjusted for inflation). Economy and infrastructure spending was twice as high in FY 2023 as it was in FY 2019. Obligations were also 34% higher, mostly driven by increased net interest on the national debt.
President Biden’s original student loan forgiveness executive order affected FY 2022 and FY 2023 education spending. Loan forgiveness costs appeared as spending in the FY 2022 budget. The Supreme Court reversed this anticipated spending for the FY 2023 budget by ruling the program unconstitutional in Biden vs. Nebraska. As a result, total federal education spending in the FY 2023 budget was negative.
zzwv on
So we just hand out 2 Trillion to old boomers to sit around and fart in their homes while children are left to deal with the scraps and get no education or infrastructure. Very cool USA!
SteelMarch on
Huh, it’s interesting to see the rate of growth for obligations (debt). Will we potentially see a significantly larger share of debt repayments in the decades to come in comparison to our other expenditures? I know this is only showing spending since the pandemic but now I’m curious to see how much it’s changed over the years.
planko13 on
If you adjust for inflation, spending in 2023 is actually less than 2019.
The evidence continues to (ironically) suggests that Democrats are better at cutting spending than Republicans are.
5 Comments
Source: USAFacts aggregation of data from Office of Management and Budget (OMB), Census Bureau, and Bureau of Economic Analysis (BEA)
Tools: Excel, Illustrator
Note: Adjusted for inflation (FY 2023 dollars). Numbers may not add due to rounding.
Data/viz pulled from [this report](https://usafacts.org/reports/annual-report/), which we create and send to Congress.
Federal government spending in FY 2023 (October 2022 to September 2023) was down from a peak of $7.8 trillion in FY 2021, but still $847.1 billion higher than pre-pandemic levels (adjusted for inflation). Economy and infrastructure spending was twice as high in FY 2023 as it was in FY 2019. Obligations were also 34% higher, mostly driven by increased net interest on the national debt.
President Biden’s original student loan forgiveness executive order affected FY 2022 and FY 2023 education spending. Loan forgiveness costs appeared as spending in the FY 2022 budget. The Supreme Court reversed this anticipated spending for the FY 2023 budget by ruling the program unconstitutional in Biden vs. Nebraska. As a result, total federal education spending in the FY 2023 budget was negative.
So we just hand out 2 Trillion to old boomers to sit around and fart in their homes while children are left to deal with the scraps and get no education or infrastructure. Very cool USA!
Huh, it’s interesting to see the rate of growth for obligations (debt). Will we potentially see a significantly larger share of debt repayments in the decades to come in comparison to our other expenditures? I know this is only showing spending since the pandemic but now I’m curious to see how much it’s changed over the years.
If you adjust for inflation, spending in 2023 is actually less than 2019.
The evidence continues to (ironically) suggests that Democrats are better at cutting spending than Republicans are.