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The U.S. borrowed 25¢ of every dollar it spent in 2025. Interest cost more than defense.

Sankey diagram of fiscal 2025 federal money. Into federal spending of $7,010 billion: individual income taxes $2,656B, borrowing $1,775B, payroll taxes $1,748B, corporate taxes $452B, tariffs $195B, other $183B. Out to Social Security $1,581B, Medicare $997B, Medicaid and other health $979B, interest on the debt $970B, defense $917B, income security $702B, veterans $377B, everything else $488B.
In fiscal 2025 the federal government spent $7.01 trillion and took in $5.23 trillion, so it borrowed $1.78 trillion, about 25 cents of every dollar spent. Borrowing was the second-largest source of money after individual income taxes, slightly ahead of payroll taxes. Interest on the debt, $970 billion, cost more than defense, $917 billion. Source: U.S. Treasury Monthly Treasury Statement.

Where U.S. federal money came from and where it went in fiscal 2025 (October 2024 to September 2025), in billions of dollars. Of $7.01 trillion spent, $1.78 trillion was borrowed. Interest on the debt ($970 billion) cost more than defense ($917 billion).

Credit: FactHub Research Team; data from U.S. Treasury, Monthly Treasury Statement

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What this chart asks

Where did federal money come from and where did it go in fiscal 2025?

Why it is shown this way

  • A Sankey shows both halves of the budget at once: what came in on the left, what went out on the right, with ribbon widths proportional to dollars.
  • Borrowing is drawn as a source beside the taxes, so readers can see it is the second-largest source of money, ahead of payroll taxes.
  • Borrowing, interest and defense are highlighted; everything else is muted so the two findings stand out.
  • Sources and destinations are listed largest first; 'Everything else' sits last on the right.

Data and accessibility

The chart's data and images are in the strip under it.

Dataset us-federal-money-flow-fy2025, analysis money-flow-fy2025

Sources

This chart draws on the sources of the dataset versions it visualizes.

Where federal money came from and went, fiscal 2025

  1. U.S. Treasury, Monthly Treasury Statement, Table 9: Summary of Receipts by Source, and Outlays by Function (September 2025, fiscal year to date) Receipts by source and outlays by budget function for fiscal 2025

    Retrieved November 8, 2026. U.S. government work, open data. Free to redistribute without restriction

    Reliability: Government. The Bureau of the Fiscal Service compiles the Monthly Treasury Statement from agency accounting reports; it is the official record of federal receipts and outlays. Retrieved through the Fiscal Data API (mts_table_9, record_date 2025-09-30).

Limitations

  • Net outlays by budget function: offsetting receipts are already subtracted, so 'Everything else' is a net figure.
  • Borrowing is the deficit (outlays minus receipts); the change in federal debt differs because of cash and other financing changes.
  • 'Medicaid and other health' is the Health budget function, mostly Medicaid.
  • Interest is net interest (budget function 900), not gross interest on the public debt.

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