2010 United States Federal Budget

2010 United States Federal Budget

The United States Federal Budget for Fiscal Year 2010, titled A New Era of Responsibility: Renewing America's Promise, is a spending request by President Barack Obama to fund government operations for October 2009–September 2010. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2010, which must be authorized by Congress.

The subsequent 2010 Financial Report of the United States Government, reporting on the implementation of the 2010 Congressionally approved Budget, shows a net operating cost of $2,080 billion, although since this includes accounting provisions (estimates of future liabilities), the cash rather than accruals deficit is $1,294 billion. According to the Government Accountability Office, the 'accrual deficit provides more information on the longer-term implications of the government's annual operations'. Gross costs rose 20% from $3,736 billion in 2009 to $4,472 billion ($3,552 billion budgeted), while total taxes and other revenues rose 1% from $2,198 billion to $2,217 billion. The Government Accountability Office was unable to provide an audit opinion on the 2010 financial statements due to 'widespread material internal control weaknesses, significant uncertainties, and other limitations', although it noted that significant progress had been made. The GAO cited as the principal obstacle to its provision of an audit opinion 'serious financial management problems at the Department of Defense that made its financial statements unauditable'. The GAO identified during its audit work an estimated $125.4 billion of 'improper payments'. Thirteen of the twenty-four Government Agency Heads either qualified or withheld their assurance statements.