West Virginia Recommended Spending Percentages

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What percentage of your income should you spend on what items? This form has some recommendations to consider. The important thing is to come up with realistic percentages.

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FAQ

Most of local government spending is on services like water, electricity, sewage, waste removal, roads and facilities.

Military (Discretionary)Social Security, Unemployment, and Labor (Mandatory)Medicare and Health (Mandatory)Government (Discretionary)Education (Discretionary) Whether you owe money to the IRS or you have a State tax debt, our staff of Enrolled Agents and Tax Professionals can help you!

State Government Spending Total expenditures for all 50 states in the United States was estimated to be $2.7 trillion in 2020. General expenditures by function rounded in billions of dollars are listed in the table below. Welfare and education are the largest expenditures by state governments.

Virginia's largest spending areas per capita were elementary and secondary education ($2,157) and public welfare ($1,658). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.

As Figure A suggests, Social Security is the single largest mandatory spending item, taking up 38% or nearly $1,050 billion of the $2,736 billion total. The next largest expenditures are Medicare and Income Security, with the remaining amount going to Medicaid, Veterans Benefits, and other programs.

This category includes entitlement programs such as Social Security, Medicare, and unemployment compensation. It also includes welfare programs such as Medicaid. Social Security will be the biggest expense, budgeted at $1.196 trillion. It's followed by Medicare at $766 billion and Medicaid at $571 billion.

In 2019, 43 percent of states' direct general expenditures went toward public welfare, the largest direct expenditure as a share of state spending.

Social Security will be the biggest expense, budgeted at $1.196 trillion. It's followed by Medicare at $766 billion and Medicaid at $571 billion.

State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).

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West Virginia Recommended Spending Percentages