how much does the us government spend per month?
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$4.4 trillion is equivalent to a little more than $13,500 in spending per U.S. individual. $4.4 trillion equates to the average household spending $2,900 per month.
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Average Salaries The U.S. sits just below Canada at approximately $2,942 per month, or roughly $35,300 per year. The real difference is seen in the cost of living. While Americans and Canadians roughly make the same amount per annum, there are large gaps in specific spending areas of both countries.
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The federal government spent $559 billion on contracts for products and services in fiscal 2018, the most the government has doled out in contracts since fiscal 2010, according to an analysis from Bloomberg Government.
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In fiscal year 2019, the federal government spent $4.4 trillion, amounting to 21 percent of the nation's gross domestic product (GDP). Of that $4.4 trillion, over $3.5 trillion was financed by federal revenues. The remaining amount ($984 billion) was financed by borrowing.
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In 2014, the Federal Government spent $32.8 billion on transportation (excluding federal transfers to states), and state and local governments spent $291.2 billion (including expenditures paid for with federal transfers, such as the Federal-Aid Highway Program and the Airport and Airway Trust Fund).
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The Average Spending Amount In Retirement Is Surprisingly High. According to the Bureau of Labor Statistics data, “older households” – defined as those run by someone 65 and older – spend an average of $45,756 a year, or roughly $3,800 a month.
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During FY2019, the federal government spent $4.45 trillion, up $338 billion or 7.1% vs. FY2018 spending of $4.11 trillion.
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That adds up to a total of 525,600 minutes. Divide that figure into the $3.6 trillion in FY2010 spending and you find that the federal government spends about $6.85 million per minute. That's right - the government spends, on average, nearly $7 million every minute.
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It might surprise you to know that only about 2 cents of that dollar goes to education. How does the government arrive at that figure? Many of the expenditures in the federal budget are mandatory, like Social Security, Medicare, Medicaid, and servicing the national debt.
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An average U.S. family of four pays about 72.93 U.S. dollars for water every month as of 2019, if each person used about 100 gallons per day. The price index of water and sewage maintenance have increased in recent years as infrastructure continues to age across the United States.
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Below is a look at the average monthly living costs for each place. On a national level, a family of four can expect to spend an average 4,700,000 KRW per month (3,950 USD) in living expenses. A single expat can expect to pay 2,100,700 KRW (1,760 USD).
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Entertainment. The average household spends $2,482 a year on entertainment, and I'm guessing that some of the “other expenses” might fall into this category, too. To break this down, this adds up to a little over $200 a month spent on entertainment.
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The United States federal budget consists of mandatory expenditures (which includes Medicare and Social Security), discretionary spending for defense, Cabinet departments (e.g., Justice Department) and agencies (e.g., Securities & Exchange Commission), and interest payments on debt.
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Federal spending totaled $4.4 trillion in 2019. About 62 percent of the total was for programs not subject to regular budget review, while nearly 30 percent covered discretionary programs for which Congress must regularly appropriate funds. Eight percent went for interest on government debt (figure 1).
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According to the latest figures from the Bureau of Labor Statistics, the typical U.S. household spent $60,060 in 2017 and had an average income of $73,573 before taxes. Spending was up 4.8% from 2016, even as pretax incomes fell 1.5%. The Consumer Price Index, a commonly used measure of inflation, rose 2.1%.
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In the US, people who rent apartments should plan to spend $100–$150 (sometimes more) per month for utilities,1 and we've found that homeowners should budget closer to $400 a month. Of course, climate and energy costs vary from one state to another, so utility bills do too.
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In fiscal year 2015, the federal budget is $3.8 trillion. These trillions of dollars make up about 21 percent of the U.S. economy (as measured by Gross Domestic Product, or GDP).