How much does the government spend and where does the money go?

The federal government collected nearly $4.5 trillion in revenue in fiscal year 2023 (FY 2023).

About half was collected through individual income taxes, while 37% was through payroll taxes. Other revenue sources included corporate income taxes, customs duties, and sales taxes.

The federal government spent almost $6.2 trillion in FY 2023, including funds distributed to states.

Medicare, Social Security, defense and veterans, transfers to states, interest on the debt, and aid to individuals such as the Supplemental Nutrition Assistance Program and refundable tax credits accounted for 90% of spending.