New Delhi, Feb. 24 -- The United States Federal budget for 2025 will be about $7 Trillion. That makes it roughly 12 times the size of the Indian government's annual budget and about 75% more than the Chinese one. The top five spending categories in order of size are: Social Security (21%), Medicare (15%), defence (13%), interest payments (13%) and health (13%). On the revenue side, individual income taxes, social security and Medicare taxes and corporate income taxes make up over 90% of the federal revenue.

The US operates on a fiscal year that goes from 1 October to 30 September. Its budget for fiscal year 2024-25 is likely to run a deficit of about $2 trillion on revenues of roughly $5 trillion (with outlays of above $7 trillion).

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