What is the annual revenue of the United States? Why does the United States have such a big fiscal deficit?

To understand the fiscal deficit, we must first understand Keynesianism. According to Keynesian theory, due to people's propensity to save, there will be a gap between a country's total investment and total demand, leading to overproduction and products that cannot be sold. This gap needs government expenditure to make up. Keynesianism became popular after World War II, including the fact that China's economic development was driven by government procurement, so there would be a fiscal deficit. From this perspective, the fiscal deficit is only an economic development strategy.

The annual GDP of the United States is more than 20 trillion US dollars, ranking first in the world. It can be said that the United States is not short of money, but the American government does not rely entirely on taxes to meet its expenses, but borrows some money to supplement its fiscal revenue by issuing treasury bonds.

Because the proportion of consumption in the American economic structure is very high, accounting for 70%, if the American government collects less taxes, the American people can get more disposable income, increase consumption to stimulate consumption development, and the expansion of economic scale increases the tax base. At the same time, because of its high reputation, the American government can borrow money at a very low interest rate, which can be said to be a virtuous circle.

After Trump took office, he immediately implemented large-scale tax cuts, and the US economy grew very strongly. Non-agricultural employment data is bright, and the stock market has hit record highs. However, Trump's tax cuts have also reduced the US government's fiscal revenue, and the US deficit continues to grow. /kloc-in 0/8, the US fiscal revenue was 3.33 trillion US dollars, and the deficit was close to 800 billion US dollars. It's only a matter of time before the US fiscal year deficit breaks through 1 trillion dollars.

The United States, on the other hand, used this fiscal deficit to stimulate the economy and create more gdp. For example, although the annual deficit in the United States is several trillion dollars, the newly created gdp is more than 20 trillion dollars, and the efficiency of creating wealth is very high.

At present, the fiscal revenue of the United States is 7 trillion dollars a year, but there is a deficit of nearly 1 trillion dollars. Too many flowers, of course. So what do you spend it on?

1 battle: In fact, around 2000, the US fiscal deficit was still in surplus, and it began to rise sharply in 2002. What happened? 9 1 1 terrorist attacks, followed by the Iraq war. It is estimated that the total cost of the Iraq war is about $6 trillion, which is easy to know. This war is one of the huge reasons for the American deficit.

Another reason for the US deficit is that the military-industrial complex is too big to fail. After these people were fattened up by many wars in the United States, they began to control Congress with money, which made the United States start to use troops frequently or develop military weapons, so as to convey benefits to them.

3 Welfare: According to the data of 20 16, although it is a bit outdated, it is basically meaningful. From this point of view, apart from the military, the biggest expenditure lies in social welfare expenditure. Simply put, it makes people feel too comfortable.

China's expenditure on education, agriculture and science and technology is significantly higher than that of the United States.

In this regard, I just want to say, gnome male-",wait and see.

Money doesn't have to be used to make money later, but to squander it. If you finish your family, you won't get it.

Recently, we all saw the deep pockets of the United States in dealing with the COVID-19 epidemic, and soon declared a national emergency, and the US government allocated 50 billion dollars to deal with the COVID-19 epidemic. At the same time, it is announced that it will spend $400-500 billion on the living expenses of every American citizen 1000. Now many netizens ask why there is a huge fiscal deficit in the United States with so much fiscal revenue.

Take fiscal year 20 18 as an example. The US fiscal revenue is $3.3 trillion, while the fiscal deficit is as high as $779 billion. According to the prediction of the US Congressional Budget Office, the US fiscal deficit will reach 970 billion US dollars in fiscal year 20 19, and will exceed the trillion US dollars mark for the first time in fiscal year 2020. At the same time, the total size of US Treasury bonds has exceeded 23 trillion, and the debt of the US government is equivalent to 106% of the country's GDP.

In fact, the fiscal deficit in the United States has not always been so high. As early as the Clinton administration, the United States not only had no fiscal deficit, but also had a fiscal surplus. From 65438 to 0990, the United States achieved economic growth for ten consecutive years, which was the longest in history. In the last year of Clinton's eight-year term, the fiscal surplus was as high as $237 billion. When Clinton stepped down, the national debt was $5.6 trillion.

Now the question is coming, so what is the reason for the high fiscal deficit in the United States? There are three main reasons: first, the huge welfare expenditures such as military expenditure, medical insurance and social security in the United States are also very large. Take the US military expenditure in 20 18 as an example, reaching 600 billion US dollars, and the military budget in 20 19 is 730 billion US dollars. Expenditure on this scale has been much higher than the annual GDP of 170 countries. Moreover, this is in peacetime, and the military expenditure in wartime is higher. In recent decades, the United States has spent as much as $7.6 trillion on war alone.

In order to save US military spending, the Trump administration has targeted NATO members and garrison countries such as Japan and South Korea. Last year, it asked NATO members to increase their defense spending and pay "money" in full to ease the pressure on the United States. NATO did not respond. Going to Japan and South Korea to say that the protection fee should be raised was opposed by the local people and regarded as a "rip-off" by the outside world. But if the United States does not tear it up, the pressure on US military spending will not be reduced much.

Moreover, since Trump took office, he has promoted a comprehensive tax reduction policy (30% tax reduction), supported the development of American enterprises, attracted overseas American enterprises and international funds to flow into the United States, and supported the economic development of the United States. Trump's original intention is to reduce taxes and fees. First, the GDP cake will become bigger, and then the cake will become bigger, and the fiscal revenue of the US government will also increase. The idea is good, but it takes a long time to make a big GDP cake. In the short term, it is not surprising that the US government's revenue has decreased, its expenditure has increased, and its fiscal deficit has risen sharply.

Finally, the economic growth of the United States is slow, with an average growth rate of about 2% in recent years, although the economic growth rate is slightly better than that of other developed countries such as Germany, France and Japan, because these countries have to face the problems of aging population and insufficient labor force, and the United States, as an immigrant country, has no such concerns. However, the economic growth rate is still relatively slow, so the growth of fiscal revenue is relatively slow, while various expenses are increasing. Therefore, it has been difficult to reduce the fiscal deficit.

As a matter of fact, most countries in the world have fiscal deficits, and the key is to make proper debts and live within our means. The United States spends a lot on military, social security, medical insurance, etc., and the United States has carried out comprehensive tax cuts in recent years, which has led to more and more fiscal expenditures in the United States, but the fiscal revenue has not increased much. Even the Trump administration wants to open sources and reduce expenditure, but all expenditures are hard expenditures and it is difficult to come down. So judging from the current situation, the debt scale of the United States will continue to grow and will not stop at all.

I'm Lao Wei, and I'll answer.

Today, the United States is the largest economic power in the world, and this position has never wavered since 1894. There was no period of government debt in American history, only when Lincoln was president, and other periods were not in debt. In recent years, the number of US Treasury bonds has increased rapidly.

As can be seen from the above figure, in recent years, especially after the 9 1 1 incident, the balance of US Treasury bonds has risen very rapidly. By 20 10, the balance of US Treasury bonds was 13.72 trillion US dollars, and by 20 18, the balance of US Treasury bonds exceeded 22 trillion US dollars, with an annual interest rate of 5,200.

So, what is the fiscal revenue of the United States?

The above picture shows the fiscal revenue of the United States in 20 18. The annual fiscal revenue was $6.3 trillion, of which $5.8 trillion came from various taxes and fees. In other words, the income of the US government basically depends on tax collection. Of course, there are no state-owned enterprises in the United States, so there is no state-owned enterprise income.

According to the annual interest rate of US$ 520 billion, the current fiscal revenue of 6.3 trillion can still be supported.

The picture above shows the financial expenditure of the United States. The annual fiscal expenditure was $ 7. 1 trillion, of which the largest three items were social medical care, old-age care and education, totaling $ 4. 1 trillion, accounting for 57.7% of the total fiscal expenditure. It can be said that most of the fiscal expenditure is spent on national welfare.

The second is defense expenditure, that is, US military expenditure of 900 billion US dollars, accounting for 12.7% of the total fiscal expenditure, which is not very large.

Compared with China's fiscal revenue, from 20 18 to 12, the national general public budget expenditure was 22,090.6 billion yuan.

The main expenditure items are as follows:

65,438+0. Education expenditure was 3,222.2 billion yuan, up by 6.7%.

2. Expenditure on science and technology was 832.2 billion yuan, up by 14.5%.

3. Expenditure on culture, sports and media was 352.2 billion yuan, up by 3.7%.

4. Expenditure on social security and employment was 2,708.4 billion yuan, up by 9.7%.

5. Expenditure on health care and family planning was 654.38+0.57 trillion yuan, an increase of 8.5%.

6. Expenditure on energy conservation and environmental protection was 635.3 billion yuan, up by 13%.

7. Urban and rural community expenditure was 2.27 trillion yuan, up by 10.2%.

8. Expenditure on agriculture, forestry and water was 2,078.6 billion yuan, up by 9.9%.

9. Transportation expenditure 1 1073 billion yuan, up by 3.7%.

10. The debt service expenditure was 734.5 billion yuan, a year-on-year increase of 17 1%.

In contrast, China's education expenditure is 3,222.2 billion yuan, accounting for 14.58% of the total fiscal expenditure and 3.58% of GDP, while the United States is 1. 1 trillion dollars, accounting for 15.49% of the total fiscal expenditure and 5.37% of GDP. The expenditure on social pension in China is 2708.4 billion yuan, accounting for 12.26% of the total fiscal expenditure and 3% of GDP. American social pension expenditure is $65,438 +0.4 trillion, accounting for 19.72% of the total fiscal expenditure and 6.83% of GDP. China's medical and health expenditure is 654.38+0.57 trillion yuan, accounting for 7. 1% of the total fiscal expenditure and 1.74% of GDP. The expenditure on health care in the United States is $65,438 +0.6 trillion, accounting for 22.5% of the total fiscal expenditure and 7.8% of GDP.

In fact, we can see that the United States spends much more on social welfare than China, and basically a lot of financial expenditure is spent on the American people. The total expenditure on education, medical care and old-age care in the United States is $465,438 +0 trillion. According to the calculation of the population of 327 million in the United States, the average expenditure per American is $654,380 +0.25 million, equivalent to RMB 87,800.

Other aspects, such as American government welfare, that is, government expenditure is 400 billion US dollars, accounting for 5.6% of the total US fiscal expenditure, and national defense expenditure is 900 billion US dollars, which supports the largest army in the world.

Therefore, the financial expenditure in the United States is mainly in social welfare. To reduce the fiscal deficit, it is estimated that the social welfare expenditure in the United States will be greatly reduced. It is estimated that the American people will not agree with this, and it is not good for the president to do so.

The fiscal deficit is simple: the cost of borrowing money (1-2%) is too low, which is much cheaper than collecting taxpayers' money (5-8% opportunity cost).

In fiscal year 20 18 (from June 20 17 to September 20 18), the government revenue was 3.3 trillion dollars, the expenditure was 4. 1 trillion dollars, and the fiscal deficit reached 779 billion dollars, an increase of 17% over the previous fiscal year.

Figures released by the US Treasury Department last month showed that in the first eight months of fiscal year 20 19 (from October 20 18 to May 20 19), the US government's fiscal deficit reached $738.6 billion, a substantial increase of about 42% year-on-year.

The US government predicted in March this year that the fiscal deficit in fiscal year 20 19 may be as high as $65,438 +0. 1 trillion, much higher than the $779 billion in the previous fiscal year.

The reasons for the widening fiscal deficit of the US government are the increase of interest expenditure on federal debt, the increase of military expenditure, the increase of social security expenditure and the Trump administration's tax reduction, and the government tax revenue has not kept pace with the expenditure.

In 20 17, the US fiscal revenue was $5,764.9 billion. It is said that it is more than 300 million, either federal income or national tax income. The U.S. Treasury Department does not care about national income statistics, but only about federal income statistics. State and local governments manage their own fiscal revenue statistics. The federal government of the United States has downward transfer payments, and so do state governments. Therefore, the three fiscal revenues add up to double counting. This data does not include duplicate data. ...

The United States is the largest debtor country in the world, and its federal government finances have been unable to make ends meet all the year round. Take fiscal year 20 18 as an example. The fiscal revenue of the United States is 3.3 trillion dollars, while the fiscal deficit is as high as 779 billion dollars. According to the forecast of the Congressional Budget Office, the US fiscal deficit will reach 970 billion US dollars in fiscal year 20 19, and will break through the trillion US dollars mark for the first time in fiscal year 2020.

Why is the US fiscal deficit so high?

The reason is that the huge welfare expenditures such as military expenditure, medical insurance and social security in the United States are huge, and these expenditures are basically indispensable items that cannot be reduced. Take the US military expenditure in 20 18 as an example, reaching 600 billion US dollars, and the military budget in 20 19 is 730 billion US dollars. Expenditure on this scale has been much higher than the annual GDP of 170 countries.

Although the total national debt of the United States has reached $22.7 trillion, and the annual interest on debt is close to $600 billion, it is simply a drop in the bucket compared with the huge military expenditure. However, US President Trump did realize the seriousness of the fiscal deficit. Last year, he called for reducing federal government spending, but military spending continued to increase.

Obviously, it is almost impossible for Trump to engage in $65,438 +0.3 trillion tax cuts on the one hand, and increase fiscal revenue and reduce expenditures on the other. Therefore, the Trump administration has targeted NATO members and countries with armies such as Japan and South Korea. Last year, it asked NATO members to increase defense spending and pay "money" in full to ease the pressure on the United States. In addition, a few days ago, US Presidential National Security Assistant Bolton visited Japan and South Korea and proposed to provide Japan and South Korea with five times the garrison expenses, which was regarded as a rip-off by the outside world.

In short, the world's largest military power with 473 overseas military bases will continue to strengthen its military strength in order to maximize the core interests of the United States and maintain its super hegemonic position, including announcing the establishment of a "space army" last year, so that its huge military expenditure cannot be cut. This is still in peacetime. Once the United States launches a war with foreign countries, there is no other way but to expand the issuance of US Treasury bonds. The United States has been founded for more than 200 years, and peace is less than 10 years. In recent decades, the United States has spent as much as $7.6 trillion on war alone.

The budget time in America is different from that in our country. They use the fiscal year (from the first year 10 to the next September) instead of the natural year. For example, the fiscal year 20 19 in the United States is from 20 1 810 June1to 20 19 September 30.

According to the figures of the Congressional Budget Office, the fiscal revenue of the three levels of government (federal, state and local) in fiscal year 20 19 was $7 trillion. Among them, the US federal government's revenue budget is about 3.4 trillion US dollars, accounting for about half of the total budget revenue, and the budget revenue of state and sub-state governments accounts for half.

In August this year, the US Treasury Department said in its monthly financial report that in the first 65,438+00 months of fiscal year 2065,438+09 (from September 2065,438+08 to July 2065,438+09), the US federal government's fiscal revenue was 2.86 trillion US dollars, and its fiscal expenditure reached 3.73 trillion US dollars. The fiscal deficit between them has reached $866.8 billion. In fiscal year 20 18, the US fiscal deficit reached $779 billion, a six-year high.

The US Treasury Department predicts that the federal government's fiscal deficit will exceed 1 trillion dollars in fiscal year 20 19. The last time the US fiscal deficit exceeded $1 trillion was in 20 12. According to the previous forecast of the US Congressional Budget Office, the federal government's fiscal deficit will exceed one trillion as early as 2022.

The following table shows the budget expenditures of governments at all levels in the United States in fiscal year 20 19. Among the listed subjects, medical care expenditure is the largest, reaching $65,438 +0.7 1 trillion, followed by pension expenditure, and the third is education expenditure, reaching $65,438+0.10.4 trillion. In addition, the defense budget is as high as 940 billion US dollars. The total expenditure of the above four subjects is close to $5.3 trillion, accounting for more than 70% of the total US fiscal revenue.

There is also a striking expenditure, that is, interest expenditure, with a budget as high as $500 billion. The size of US national debt has reached 22 trillion US dollars, and the annual interest expense of 500 billion US dollars is not high, and the interest rate is only about 2.5%.

A very important reason for the sharp increase in the US government's fiscal deficit in the past two years is that the Trump administration has implemented tax reduction policies, including personal income tax and corporate income tax. The tax reduction policy will inevitably lead to an increase in fiscal revenue, but at the same time, the US fiscal expenditure has maintained a relatively fast speed, so the contradiction between revenue and expenditure is prominent. How to bridge this gap? Of course, issuing government bonds to make up for it. Therefore, the scale of US Treasury bonds has grown very rapidly in the past two years.

Compared with GDP, fiscal revenue will be more important to a country, because GDP is imaginary, while fiscal revenue is real. Visible money is an action force that can be transformed into the will of the government!

The fiscal year 20 18 (from June 20 17 to September 30, 20 18) in the United States has a fiscal revenue of $3.329 trillion, a fiscal expenditure of $ 4. 108 trillion and a fiscal deficit of $779 billion.

The reasons for the fiscal deficit are nothing more than the following:

1. The corporate tax reduction act passed by the United States on 20 18 and various tax reduction policies. Enterprises pay less taxes, which will naturally lead to a decrease in fiscal revenue.

Two. Military expenditure. American military spending ranks first in the world all the year round, and foreign wars continue year after year, so military science and technology research and development naturally needs more financial expenditure.

Three. Financial expenditure of social welfare, medical insurance and public utilities.

The American economy is developing slowly. The recent slow economic growth in the United States has passed the peak of the development of capitalist countries, which will also lead to slow fiscal revenue growth.