![]() ![]() ![]() About 95 percent of the spending in this category reflects the underlying costs of the Defense Department, largely for operations and maintenance military personnel procurement of weapons and research, development, testing, and evaluation. Defense: Another 13 percent of the budget, or $768 billion, will be paid for national defense activities.In 2022, 13 million of the 14.5 million people estimated to be enrolled in health insurance through ACA marketplaces received subsidies that lower their premiums and out-of-pocket costs, at an estimated cost of about $82 billion. (Both Medicaid and CHIP require states to pay some of their total costs.) In a typical month, Medicaid and CHIP provide health care or long-term care to about 87 million low-income children, parents, elderly people, and people with disabilities. The rest of this category funds the federal costs of Medicaid, CHIP, and ACA subsidy and marketplace costs. One-half of this amount, or $733 billion, goes to Medicare, which provides health coverage to around 80 million people who are aged 65 and older or have disabilities. Health insurance: Four health insurance programs - Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and Affordable Care Act (ACA) marketplace health insurance subsidies - together account for 25 percent of the budget in 2022, or $1.4 trillion.Social Security also expects to provide benefits to 3 million spouses and children of retired workers, 6 million surviving children and spouses of deceased workers, and 9 million disabled workers and their eligible dependents. ![]() Social Security: In 2022, 21 percent of the budget, or $1.2 trillion, will be paid for Social Security, which will provide monthly retirement benefits averaging $1,538 to 49 million retired workers.As the chart below shows, three major areas of spending make up the majority of the budget: The remaining amount will be financed by net borrowing. Of that $5.8 trillion, over $4.8 trillion is estimated to be financed by federal revenues. In fiscal year 2022, the federal government is estimated to spend $5.8 trillion, amounting to 23.5 percent of the nation’s gross domestic product (GDP). ![]()
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