$587 Billion Deficit for 2016
The fiscal year for 2016 ran from October 1, 2015 – September 30, 2016. According to the Treasury Department statement of receipts and outlays, the government had:
- $3.267 trillion in tax revenue
- $3.584 trillion in outlays
- $587 billion deficit
Receipts came from several sources:
Individual Income Taxes: $1.546 trillion
Social Security and Other Payroll Taxes: $1.115 trillion
Other Taxes and Duties: $306 Billion
Corporate Income Taxes:$300 Billion
Outlays were comprised of several groups:
Social Security $916 Billion
Defense: $595 Billion
Medicare: $595 Billion
Interest on Debt: $241 Billion
Other: $1,507 Billion
You can view the entire report here