In the most recent fiscal year, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for
A) less than 20 percent of federal spending.
B) about 40 percent of federal spending.
C) approximately 50 percent of federal spending.
D) more than 85 percent of federal spending.

Question

Quizplus · Accepted Answer

These categories are major components of federal spending, with income transfers (like Social Security and unemployment benefits), health care (such as Medicare and Medicaid), national defense, and interest on the national debt together comprising a significant portion of the federal budget, often exceeding 85%.

In the Most Recent Fiscal Year, Federal Expenditures on Income