Budget Of The Us Government Fiscal Year 2024

Budget Of The Us Government Fiscal Year 2024. This week, president biden released his fiscal year (fy) 2024 budget request, which seeks total discretionary spending of $1.695 trillion, split between $886 billion for defense programs and $688 billion for nondefense, reflecting increases of three and seven percent respectively over fy23. The congressional budget office estimates that if no new legislation affecting spending and revenues is enacted, the budget deficit for fiscal year 2024 will total $1.9 trillion.

Learn about the federal government’s budget process, from the president’s budget plan to congress’s work creating funding bills for the president to sign. This week, president biden released his fiscal year (fy) 2024 budget request, which seeks total discretionary spending of $1.695 trillion, split between $886 billion for defense programs and $688 billion for nondefense, reflecting increases of three and seven percent respectively over fy23.