Hospitals & Asylums 

 

 

June 2024

 

By Anthony J. Sanders

 

United States Budget FY 17 – 25

 

Public debt retirement leaves the United States with $14.4 trillion gross federal debt, 62.5% of GDP, much less than the $31.4 trillion statutory debt limit. 31USC§3101.  There is a $1.1 trillion General Fund Balance remaining from COVID relief to purchase deficits in excess of 3 percent of GDP, federal student loan deficits and unaccountable robbery in the beginning of FY 25 pursuant to the Anti-deficiency Act of 1982 31USC§1502.  On-budget revenues are estimated $3,661 billion, outlays $4,329 billion and deficit -$668 billion, -2.9% of GDP, in fiscal year 2025.  Off-budget revenues are estimated $1,409 billion, expenditures $1,551, and deficit -$142 billion, -0.6% of GDP for the calendar year 2025. Total revenues are estimated at $5,070 billion, expenditures $5,880 billion, and -810 billion deficit, -3.5% of GDP, FY 25 pursuant to concurrent resolution 2USC§632 and supplemental appropriation 31IUSC§1106.  In light of the Treasury overvaluation since FY 22, the on-budget deficit -2.9% FY 25  is the first deficit less than 3 percent of GDP since 2019, a $24 billion deposit in the General Fund Balance is anticipated FY 25, however the total deficit is 3.5% due to the increasing OASDI off-budget deficit with 2033 doomsday, financed by off-budget by savings held in Trust Funds, until repeal of Adjustment to Contributions Base Sec. 230 of the Social Security Act 42USC§430 ends child poverty by 2024, state underinsurance and all poverty by 2030. 

 

Treasury Valuation FY 17 - 25

 

The public must add up total discretionary and mandatory spending of Treasury Department Budget-in-brief.  Treasury FY 22 request of $731.2 billion has gone up due to (1) Child Tax Credit FY 25 request, vote for $110 billion FY 25 pursuant to Congressional Budget Office estimate (2) ACA Refundable Premium FY 23-25 hyperinflation, transfer to HHS/CMS whereas working age death rate has increased since 2011, (3) IRS Mandatory FY 22-25 is absorbed with undistributed offsetting receipt treatment of $79,969 million and credit on Enhancement of Internal Revenue in Sec. 10301 of the Inflation Reduction Act (IRA) PL 117-130 August 16, 2022 to provide consistent annual accounting pursuant to Audit Standard No. 6 Evaluating Consistency of Financial Statement by the Public Company Accounting Oversight Board (2008) and Rule 66 of the International Public Sector Standards Board Handbook of International Public Sector Accounting 2022 Edition Vol. I, (4) Interest on Public Debt is preliminarily restructured to pay up to 3 percent of GDP for the actual deficit since FY 22 with 3 percent inflation since FY 22 and novel Debt retirement calculus: $28.4 trillion FY 21 gross federal debt + $2.7 trillion 3% of GDP FY 22-25 –$4..9 trillion FY94 gross public debt - $11.7 trillion interest payments FY95-25 = $14.4 trillion outstanding public debt.