Federal Budget 2022

Fiscal Year 2022 Federal Budget: A Comprehensive Overview

Understanding the Federal Deficit

In fiscal year 2022, the federal deficit reached 14 trillion, representing approximately 55% of the budget. This significant deficit highlights the challenges faced by the U.S. government in managing its finances. The deficit is driven by a combination of factors, including increased spending and reduced tax revenue.

Budgetary Highlights for Fiscal Year 2022

The federal budget for fiscal year 2022 spanned from October 1, 2021, to September 30, 2022. The budget included: * A proposed total spending of over $6 trillion * An estimated revenue of approximately $4.2 trillion * A deficit of around $2 trillion

Budget Message and Priorities

The President's Budget Message outlined the administration's priorities for the year. These included: * Investing in infrastructure and clean energy * Expanding social programs and healthcare * Reducing deficit spending

Congressional Justification of Appropriations

The Congressional Justification of Appropriations (CJ) provides detailed information on the allocation of funds within the budget. The CJ reflects the deliberations and decisions made by Congress during the appropriations process.