when does the federal budget year begin and end
United States federal budget The budget document often begins as the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1 and ending on September 30 of the year following. The fiscal year is named for the year in which it ends. However, Congress is the body required by law to pass appropriations annually and to submit funding bills passed by both houses to the President for signature. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs.[2]
United States federal budget During FY2016, the federal government spent $3.85 trillion on a budget or cash basis, up $164 billion or 4% vs. FY2015 spending of $3.69 trillion. Major categories of FY 2016 spending included: Healthcare such as Medicare and Medicaid ($1,060B or 28% of spending), Social Security ($910B or 24%), non-defense discretionary spending used to run federal Departments and Agencies ($600B or 16%), Defense Department ($585B or 15%), and interest ($240B or 6%).[1]