The United States of America holds a leading position in the global economy by several criteria at once. This is especially true for the level of nominal GDP. US financial policy is fully diversified. In terms of budget indicators, America bypasses even such the developed countries, like Germany, France and China. However, recently the economy of the United States is hanging in the balance due to huge federal and foreign debt.
Budgeting
The American economy is rooted in the 16-17th century, when the main source of state profits was trade with regularly sailing merchants. Gradually, the New World began to be successfully colonized by Europeans. The first industry, which was widely developed, was farming.
Small land quickly spread throughout the United States. Soon, supporting industries began to develop. All this at a slow pace formed a full-fledged and stable economy of the country. In the 18th century, the first factories specializing in shipbuilding began to appear in some regions of America. Also, agriculture has gained popularity.
With the signing of the US Constitution, items were identified that aimed at centralizing all sectors of the economy. From this moment we can talk about the formation of the state budget. The charter clearly spelled out legislation that controls the receipt of taxes, copyright, the exclusion of monopoly and other important nuances.
In the 19th century, after the industrial revolution in Europe, most investors crossed the ocean to the United States. The most difficult economic periods were the 1930s (the Great Depression) and the mortgage crisis in 2006. Today, the country's budget is gradually recovering.
Structure of the economy
A significant share of state GDP falls on the service sector. This is health care, and education, and science, and trade, and finance, and transportation. In general, the US budget structure is post-industrial in nature. The share of agriculture and industry is only slightly more than 20% of GDP.
To date, the United States has no equal in industrial performance even among the TOP countries of the world. Moreover, the Americans surpassed Israel and the Netherlands in terms of GDP. It was these countries that for a long time held the leadership in the production of gross domestic product. At the moment, Hong Kong shares the first line in this ranking with the United States. On the other hand, this administrative territory belongs to the economic structure of China, so that it can be ignored.
Recently, in America there has been an artificial decrease in the share of agriculture and other raw materials industries. Thus, the government puts industry first. All technical development and investments are directed at it.
Federal budget
Its formation and distribution paths are proposed to Congress by the President of America. US budget is one fiscal year, starting October 1st. The President’s draft contains recommendations and several options for the structure of the financial system. Finally Congress only legitimizes the budget. In case of disagreement of the majority, the project can be finalized within 30 days. Congress has the right to amend, but only in separate articles.
Today, the United States federal treasury is the largest in the world. Revenues and expenses of the US budget are fixed by special committees created from members of Congress. It is noteworthy that some articles of the distribution of finance are under the jurisdiction of the purely Senate and House of Representatives.Budget expenditures occur only after signing the special appropriations. It is worth noting that a similar structure of the federal distribution of finance was fixed by Rudman more than 100 years ago.
Military budget
The USA in this indicator also confidently holds the first place in the world ranking. The government spends enormous funds to strengthen the military and defensive parts of the armed forces. According to authorities, the US military budget should be replenished annually at the expense of taxpayers. Only in this way can the state protect its citizens from the constant overseas threat.
Interestingly, the amount of funds spent on military activities does not depend on economic indicators. Thus, it is this area that is the priority among the American authorities, with which the vast majority of US citizens do not agree. It should be noted that the military budget does not extend to assistance to veterans or law enforcement agencies. It goes only to the creation and updating of military and defensive army ranks.
It is noteworthy that the United States spends more money on military needs than all European countries combined, even taking into account Russia. America annually transfers over $ 700 billion to army accounts. For example: China ranks second in the ranking - $ 143 billion. Russia is on the 3rd line in this list ($ 72 billion).
Key economic indicators
Two centuries ago, the US budget was only 2% of global GDP. In the early 1900s, the share of income grew 5 times. The peak of the country's profitability was noted during the Second World War, when the Americans sold military equipment to several warring alliances at once. Then the US budget revenues for the first time exceeded 50% of global GDP.
A significant decline was recorded in the late 1960s, when the level of gross domestic product fell by almost 2 times. In subsequent years, a slight positive trend was observed. According to statistics, for each reporting quarter, the treasury of the United States is replenished by 0.6%. The greatest leap occurred in 2013. Since then, US GDP has stood at $ 17 trillion. Per capita accounts for about $ 53 thousand. 
If you imagine the US budget in numbers, you can identify the natural correlation of economic sectors. The service sector accounts for 80% of GDP, industry - about 19%, agriculture - 1%.
Economic development
Industry in the country plays a decisive role after the service sector. It accounts for more than 3 trillion dollars annually. In this indicator, the United States is even ahead of China and Japan.
The US budget per year is replenished with immeasurable sums from such large automotive companies as Ford, General Motors and Chrysler. Significant profits come from the aviation and rocket industries. It is worth noting the widespread development of nuclear engineering.
A few decades ago, a fair share of GDP was oil production. However, recently this source has practically dried up due to the appearance of shale gas on the market.
An important role in the budget structure is played by exports. Over the year, the United States exports goods worth $ 1.3 billion. Foreign investment is also kept afloat in the US economy.
Federal debt
The US budget is stabilizing thanks to huge loans. In terms of total government debt, America has gone far from all other countries. In 2011, the loan amount amounted to more than 15 trillion dollars. In a record short period, federal debt exceeded 100% of the country's GDP. In 2013, total bank credit reached $ 17 trillion.
It is noted that the costs of the United States significantly exceed the rate of return for the past half a century. The largest negative leap was observed between 1998 and 2001. To date, the country's debt is about 18 trillion dollars. The largest lenders to the United States are Japan and China.
External and internal debt
The entire loan amount is identical to dollar savings.This is the only plus for the US economy in a growing crisis. The external debt of the country 15 years ago amounted to 2.7 trillion dollars. Today, this amount reaches the mark of $ 18.1 trillion. This is considered a world anti-record. A significant part of the debt is represented by securities (more than 10 trillion dollars). 
As for domestic debt, it clearly reflects the helplessness of American officials. The amount of delays to households is more than $ 13 trillion dollars. Of these, almost 85% are mortgage debts, the rest are consumer.
Budget deficit
Every year, the US economy is becoming more vulnerable to external factors. Currently, the budget deficit is more than 465 billion dollars. In July 2015 alone, this figure increased by 58%. At the beginning of this summer, the budget deficit was about $ 316 billion.
Oddly enough, treasury revenues in July reached a record $ 225 billion in 2015. However, the negative dynamics is supported by a sharply increased spending level - more than 21%.
In total, the costs of the US government in 2015 amounted to about 3.1 trillion dollars, when the profit was less than $ 2.7 trillion.
