Spending other people's money

It's presented as a test, but here are the answers:

1) Total spending for the federal budget for 2010 is projected to be approximately $3.6 trillion.  The budget comprises total expenditures and total receipts by the federal government.

2) The federal deficit for 2010 is projected to be approximately $1.2 trillion.  However, note that in 2009, the deficit was projected to be $407 billion but ended up being $1.4 trillion.  The deficit is total expenditures less total receipts (such as income taxes) received.  When receipts exceed expenditures, there is a surplus.

3) The national debt at the end of fiscal year 2010 is projected to be $14 trillion.  This debt is the accumulation of every year's deficit since 1776 less all accumulated surpluses.

4) The annual interest payment on the National Debt for 2010 is projected to be $164 billion.