Here’s a Closer Look at How the United States Spent its Money in 2023

The U.S. federal budget is a well-structured financial blueprint divided into about 20 purpose-driven categories known as budget functions. These categories, from defense to healthcare, systematically organize federal spending.

These numbers represent the federal government’s diverse range of priorities and commitments.

Below is a list of the top agencies for federal spending in FY 2023:

Medicare – $1,350,374,630,754

Social Security – $1,319,127,400,101

National Defense – $1,164,324,472,786

Health – $994,341,288,022

Net Interest – $833,684,632,063

Income Security – $763,462,696,644

General Government – $491,603,051,092

Veterans Benefits and Services – $291,761,444,417

Education and More – $254,443,342,191

Commerce and Housing Credit – $139,388,921,306

Transportation – $129,529,683,354

Unreported Data – $110,905,961,906

Community and Regional Development – $103,436,927,633

Natural Resources and Environment – $94,512,568,303

Administration of Justice – $90,446,969,680

International Affairs – $83,291,391,863

Agriculture – $50,947,423,133

Science, Space, and Technology – $39,514,182,384

Energy: Powering the Nation – $23,602,804,039

This detailed breakdown offers a clearer picture of how the U.S. government distributes its financial resources. Each category reflects the government’s priorities and commitment to various aspects of American life.

National defense is clearly a priority, edged out only by Medicare and Social Security, two government programs that provide support to countless Americans. With trillions of dollars spent every year, it is crucial to review the U.S. budget and remain informed about how money is allocated.

Source.

Author: Christopher Alarcon

Title: Journalist

Expertise: personal finance, side hustles, time management

Bio:

Christopher Alarcon is a journalist with a deep passion for personal finance. He has contributed to major online publications, including MSN, Wealth of Geeks, and Business Insider.