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This infographic provides an overview of CBO's report, The 2016 Long-Term Budget Outlook. Gain quick insight into why CBO projects a substantial imbalance in the federal budget beyond the next 10 years.
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Revenues received by the federal government in 2015 totaled $3.2 trillion, of which $1.5 trillion was receipts of individual income taxes.
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Discretionary spending by the federal government totaled $1.2 trillion in 2015—about half for national defense and half for nondefense activities.
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Mandatory spending by the federal government totaled $2.3 trillion in 2015, of which $1.0 trillion was for major health care programs.
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The federal deficit in 2015 was $439 billion, equal to 2.5 percent of gross domestic product.