You run the numbers. By the end of the war, the Union had spent $6B on the war, in 4 years.
Total federal budget for 1860 was $60M, 1% of the amount spent on the war over four years.
You are correct about the misuse of the term blockade by the Union.
I agree that I was mistaken about the products being imported.
I should also mention that about 2/3 of Union war expenditures were financed by borrowing. They were not all paid out of current revenues, which may have been implied in some of my earlier posts.
Nevertheless, the Union was spending over $2M/day by the end of the war. This amount was greatly increased over time by pensions and interest on the loans, etc.