Table of Contents
What was the federal budget in 1930?
Federal Budget Receipts and Outlays:
| Fiscal Year1 | Total Budget2 | G.D.P. |
|---|---|---|
| Receipts | ||
| 1930 | 4.1 | 98.4 |
| 1931 | 3.1 | 84.8 |
| 1932 | 1.9 | 68.5 |
What was the federal budget in 1789?
$639,000
The first appropriations act passed by the new Congress was signed into law on September 29, 1789. This appropriations act sets a budget of $639,000 to cover the Federal Government’s expenses for that year.
What was the federal deficit in 1970?
Budget Deficit by Year Since 1929
| FY | Deficit (in billions) | Deficit-to-GDP Ratio |
|---|---|---|
| 1969 | ($3) | (0.3%) |
| 1970 | $3 | 0.3% |
| 1971 | $23 | 2.0% |
| 1972 | $23 | 1.8% |
What was the US budget in 1950?
Estimated expenditures for the fiscal year 1950 of 41.9 billion dollars include all expenditures from the general and special accounts of the Treasury as well as the net expenditures of Government corporations and enterprises. They exclude expenditures made from trust accounts.
What was the source of federal revenue before 1913?
Until 1913, federal receipts consisted mainly of customs taxes, subsidiarily of the sale of public lands during the 19th century, and of (indirect) excise taxes. These sources would clearly not be enough to adequately fund the growing array of federal expenditures.
What’s the history of the US federal budget?
US federal budget history Line chart and statistics of the US federal budget history, 1789-2019. Over the 119 years since 1901, including the government estimates extending through 2019, the federal budget is 89 times (75% of the time) on the red (deficit), and only 30 times (25%) on the black (surplus).
How much did the US spend on the budget in 1929?
US Federal Budgetary Spending by Year Year Revenue Spending Surplus/Deficit (-) 1929 $3.862 $3.127 $0.734 1930 $4.058 $3.320 $0.738 1931 $3.116 $3.577 -$0.462 1932 $1.924 $4.659 -$2.735
What was the US government’s revenue in 1910?
In 1910, the government’s revenue looked much like it did in the time of George Washington: 3% of GDP, earned primarily through tariffs. By 1930, the government was claiming away twice as much money, and through entirely different means.