Fiscal Year 2015 Budget Results

How much was spent in FY 2015?

Fiscal year 2015 ran from October 1, 2014 through September 30, 2015.  Federal spending was $3.7 trillion during that period as shown in Figure 1.  Total spending increased by $181 billion or 5.2% vs. fiscal year 2014 as shown in Figure 2.  The largest spending increase was for Medicaid, which rose by $49 billion (+16.1%) vs. fiscal year 2014.  Defense had the largest decrease at $16 billion (-2.7%) vs. last year.

How much revenue was collected in FY 2015?

Total taxes collected were $3.25 trillion in fiscal year 2015, which was a $229 billion increase (+7.6%) vs. 2014 as shown in Figures 3 and 4.  The largest increase was in the individual income tax category, which rose by $144 billion (+10.3%) vs. 2014.  Payroll taxes increased by $44 billion (+4.3%) and corporate taxes were $24 billion (+7.3%) higher than last year.

FY 2015 deficit

The deficit was $435 billion, a decrease of $48 billion (-9.9%) vs. 2014.