2004 United States federal budget

The 2004 United States Federal Budget began as a proposal by President George W. Bush to fund government operations for October 1, 2003 – September 30, 2004. The requested budget was submitted to the 108th Congress on February 3, 2003.

2004 (2004) Budget of the United States federal government
SubmittedFebruary 3, 2003 [1]
Submitted byGeorge W. Bush
Submitted to108th Congress
Total revenue$1.92 trillion (requested)[2]
$1.88 trillion (actual)[3]
15.6% of GDP (actual)[4]
Total expenditures$2.23 trillion (requested)[2]
$2.292 trillion (actual)[3]
19.0% of GDP (actual)[4]
Deficit$307 billion (requested)[2]
$412 billion (actual)[3]
3.4% of GDP (actual)[4]
Debt$7.35 trillion (at fiscal end)
60.8% of GDP[5]
GDP$12.089 trillion[4]
WebsiteGovernment Publishing Office
 2003
2005

Total Receipts

2004 Actual Receipts by Source

  Social Security/other payroll tax (39.0%)
  Excise tax (3.7%)
  Estate and gift taxes (1.3%)
  Customs duties (1.1%)
  Other miscellaneous receipts (1.8%)

Receipts by source: (in billions of dollars)

Source Requested[6] Actual[7]
Individual income tax 850 809
Corporate income tax 169 189
Social Security and other payroll tax 765 733
Excise tax 71 70
Estate and gift taxes 23 25
Customs duties 21 21
Other miscellaneous receipts 24 33
Total 1,922 1,880

Total Outlays

Outlays by budget function (in millions)

Function Title Actual
050National Defense$455,813
150International Affairs$26,870
250General Science, Space and Technology$23,029
270Energy$−147
300Natural Resources and Environment$30,694
350Agriculture$15,439
370Commerce and Housing Credit$5,265
400Transportation$64,627
450Community and Regional Development$15,820
500Education, Training, Employment and Social Services$87,974
550Health$240,122
570Medicare$269,360
600Income Security$333,059
650Social Security$495,548
700Veterans Benefits and Services$59,746
750Administration of Justice$45,576
800General Government$22,338
900Net Interest$160,245
920Allowances$ -
950Undistributed Offsetting Receipts$−58,537
Total$2,292,841

References

  1. "Congressional Record - S1867" (PDF). Government Publishing Office. Retrieved March 20, 2015.
  2. "The Budget for Fiscal Year 2004" (PDF). 2004 Budget Summary Tables. Government Publishing Office. Retrieved October 8, 2015.
  3. "The Budget for Fiscal Year 2006" (PDF). 2006 Historical Tables. Government Publishing Office. Retrieved October 8, 2015.
  4. "Table 1.2—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–) AS PERCENTAGES OF GDP: 1930–2020" (PDF). Government Publishing Office. Retrieved October 28, 2015.
  5. "Fiscal Year 2016 Budget Historical Tables" (PDF). Office of Management and Budget. Archived from the original (PDF) on 2015-10-21. Retrieved October 28, 2015.
  6. "2004 Public Budget Database". Fiscal Year 2004 Public Budget Database. United States Office of Management and Budget. Receipts: Public Budget Database. Retrieved March 15, 2015.
  7. "2006 Public Budget Database". Fiscal Year 2006 Public Budget Database. United States Office of Management and Budget. Receipts: Public Budget Database. Retrieved March 15, 2015.
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