Bush Slashes Funds For Key Programs

The growing budget crunch may squeeze the middle class and business owners

FY04

  In Billions % of Fed.
  of Dollars Spending
National Defense (incl. $27 billion for Homeland Security) $482 21.0%
Interest on the National Debt (net) 160 7.0
Social Security 496 21.6
Medicare 269 11.7
Health (including Medicaid) 240 10.5
Federal Employee & Military Retirement 90 3.9
Budget Subtotal $1,737 75.7%
Total Federal Spending for FY04 $2,292  
Total Federal Revenues 1,880  
Federal Deficit 412  
SOURCE: FINAL MONTHLY TREASURY STATEMENT FOR FISCAL YEAR 2004, THROUGH SEPT. 30, 2004, U.S. TREASURY DEPARTMENT.

 

 

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