average household monthly expenses government usa 2016

AVERAGE HOUSEHOLD MONTHLY EXPENSES GOVERNMENT USA 2016 SERIES

This is money that has actually been paid out and not just promised to be paid. Throughout this page, we use outlays to represent spending. These purchases can also be classified by object class and budget functions. This spending can be broken down into two primary categories: mandatory and discretionary. Visit the national deficit explainer to see how the deficit and revenue compare to federal spending.įederal government spending pays for everything from Social Security and Medicare to military equipment, highway maintenance, building construction, research, and education. In fiscal year (FY), the government spent $, which was than it collected (revenue), resulting in a. If the government spends less than it collects in revenue, there is a budget surplus. If the government spends more than it collects in revenue, then there is a budget deficit. Consequently, as the debt grows, the spending on interest expense also generally grows. The federal government also spends money on the interest it has incurred on outstanding federal debt.

AVERAGE HOUSEHOLD MONTHLY EXPENSES GOVERNMENT USA 2016 SERIES

For an indication of the comparability of medians calculated using Pareto interpolation with medians calculated using linear interpolation, see Series P-60, Number 114, Money Income in 1976 of Families and Persons in the United States.The federal government spends money on a variety of goods, programs, and services that support the economy and people of the United States. Median incomes below those levels are more comparable from year to year since they have always been calculated using linear interpolation. Thus, use caution when comparing median incomes above $12,000 for people or $18,000 for families and households for different years. All other estimates of median income and associated standard errors for 1976 through 2011 (2012 ASEC) and almost all of the estimates of median income and associated standard errors for 1975 and earlier were calculated using linear interpolation. This is because the width of the income interval containing the estimate is greater than $1,000. We calculated estimates of median income and associated standard errors for 1976, 1977, and 1978 using Pareto interpolation if the estimate was larger than $12,000 for people or $18,000 for families and households. This is because the width of the income interval containing the estimate is greater than $2,500. The Census Bureau calculated estimates of median income and associated standard errors for 1979 through 1987 using Pareto interpolation if the estimate was larger than $20,000 for people or $40,000 for families and households. Pareto interpolation assumes a decreasing density of population within an income interval, whereas linear interpolation assumes a constant density of population within an income interval. Currently, we are using linear interpolation to estimate all medians. The Census Bureau has computed medians using either Pareto interpolation or linear interpolation. The Census Bureau has changed the methodology for computing median income over time.

Household data are collected as of March.Īs stated in the Census's Source and Accuracy of Estimates for Income, Poverty, and Health Insurance Coverage in the United States: 2011.Įstimation of Median Incomes. 2021 CPI-U-RS Adjusted Dollars, Not Seasonally Adjusted

Average household monthly expenses government usa 2016