Visualizing America’s $1.8 Trillion Federal Deficit

Marcus Lu
2025-06-09 10:51:00
www.visualcapitalist.com

Visualizing America’s $1.8 Trillion Federal Deficit

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

In fiscal year 2024, the U.S. federal government recorded a staggering deficit of $1.83 trillion—the third-largest in history outside the pandemic era.

Although the government collected $4.9 trillion in revenue, it also spent a massive $6.8 trillion, driven by rising Social Security, Healthcare, and Net Interest costs.

In this infographic, we dissect the federal budget, highlighting the widening gap between income and expenditures.

Data & Discussion

The figures we used to create this graphic were sourced from FiscalData.Treasury.gov.

Category	Value
Total Receipts	$4,920,000,000,000
Individual Income Taxes	$2,400,000,000,000
Payroll Taxes	$1,700,000,000,000
Corporation Taxes	$530,000,000,000
Other	$253,000,000,000
Total Spending	$6,750,000,000,000
Social Security	$1,500,000,000,000
Healthcare (Mostly Medicaid)	$912,000,000,000
Net Interest on Debt	$882,000,000,000
Medicare	$874,000,000,000
Defense	$874,000,000,000
Income Security	$671,000,000,000
Veterans	$325,000,000,000
Education	$305,000,000,000
Transport	$137,000,000,000
Other	$311,000,000,000
Deficit	$1,830,000,000,000

Because the federal government spent more than it brought in through taxes, the country is left with a $1.83 trillion federal deficit. To learn more, let’s look closer at the federal government’s three biggest categories of spending.

Social Security

Social Security is the largest single line item in the federal budget due to the combination of longer life expectancies and an aging population.

The number of beneficiaries is growing quickly as Baby Boomers retire, even outpacing contributions from the current workforce.

Projections indicate that, without legislative changes, the Social Security Trust Fund may be depleted by the mid-2030s, potentially leading to benefit reductions of about 22% unless reforms are enacted.

Medicaid

Factors driving Medicaid spending include higher-than-anticipated enrollment and increased healthcare costs.

The program continues to support over 80 million Americans, including low-income families, seniors, and individuals with disabilities. Recent legislative proposals aim to reduce federal Medicaid spending by up to $880 billion over the next decade, which could impact coverage for millions of beneficiaries.

Net Interest on Debt

The federal government’s interest payments on the national debt hit a record high in FY2024, nearly tripling from 2020 levels ($882 billion vs $345 billion).

Interest payments now exceed the defense budget, and are expected to reach $1 trillion annually in the near future. This unprecedented growth is due to the combination of regular government overspending and higher interest rates (which were introduced to combat inflation).

Learn More on the Voronoi App

If you enjoyed today’s post, check out the Top 20 Countries Holding the Most U.S. Debt on Voronoi, the new app from Visual Capitalist.

Source Link

Please read the Privacy and Security Disclaimer on how Techcratic handles your support.

Disclaimer: As an Amazon Associate, Techcratic may earn from qualifying purchases.