What is the biggest category of government spending?
As Figure A suggests, Social Security is the single largest mandatory spending item, taking up 38% or nearly $1,050 billion of the $2,736 billion total. The next largest expenditures are Medicare and Income Security, with the remaining amount going to Medicaid, Veterans Benefits, and other programs.
What are the largest categories of spending for state governments?
State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
What are the 3 largest categories of federal government spending?
The U.S. Treasury divides all federal spending into three groups: mandatory spending, discretionary spending and interest on debt. Together, mandatory and discretionary spending account for more than ninety percent of all federal spending, and pay for all of the government services and programs on which we rely.
What are the three largest categories of federal government spending?
Which of the following are the three largest categories of federal government spending? Health, Military, and Interest on Debt.
What is the largest area of spending in local governments?
Local spending averages report that the largest spending category is education at 35%, followed by 20% listed as “other spending”. At the local level (counties, municipalities, townships, school districts, special districts) the largest category is for public education at the elementary and secondary levels.
What are the two largest categories in federal government spending?
The answer is income security and national defense.
What is the largest category of federal spending quizlet?
At the present time, Social Security is the federal governments largest category of spending.
What is the largest category of spending by the Commonwealth of Virginia?
Social Security was the largest category of federal spending in most localities (77 of 134 localities statewide). Military spending was largest in 28 localities, and health care spending was largest in 25 localities.
What are three largest categories of federal government spending?
Which of the following are the three largest categories of federal?
Terms in this set (17)
- DEFENSE, SOCIAL SECURITY, MEDICARE. The three largest categories of federal government spending.
- WITHHOLDING. How much is being taken out of your paycheck in taxes.
- START PAYING TAXES. WHEN YOU MAKE MORE THAN THE MINIMUM INCOME REQUIREMENT.
- APRIL 15.
- 401(k) contribution.
What is the largest and fastest growing category of federal government expenditures?
the transfer of payments
The largest and fastest-growing category of federal government expenditure is the transfer of payments.