America's fiscal choices_10_4

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  • Members of the first quintile have a non-trivial amount of their income coming from “Public Cash Assistance.” this is about 8.5%
  • America's fiscal choices_10_4

    1. 1. Setting the Framework: Economic Growth, Investment and Deficit Reduction<br />Tamara Draut, Demos<br />Lawrence Mishel, Economic Policy Institute<br />
    2. 2. The Employment and Income Landscape<br />
    3. 3. Family income growth by income group, 1989-2007<br />162%<br />108%<br />Top 0.1%<br />Top 1%<br />38%<br />95-99%<br />7%<br />Bottom 90%<br />
    4. 4. High unemployment ahead<br />Projected<br />2012: 8.3%<br />2013: 6.5%<br />Source: Bureau of Labor Statistics and Moody’s Economy.com<br />
    5. 5. Underemployment, 2000-2010<br />Black<br />Hispanic<br />All<br />Source: Economytrack.org<br />
    6. 6. Setting Priorities<br /> What is an Emergency?<br />
    7. 7. ‘Emergency’ spending in 2010<br />Source: EPI Analysis of CBO Estimates<br />*Includes EUC, EB, FAC, and COBRA. ** CBO Estimate of the Administration's Request<br />
    8. 8. Setting Priorities<br />Ensuring<br /> Retirement<br /> Security <br />
    9. 9. Income composition for the elderly, 2008<br />Earnings<br />Other<br />Pensions<br />Social Security<br />Source: Social Security Administration (2010)<br />
    10. 10. Participation in employer-sponsored retirement plans in 2008*, by race<br />
    11. 11. Male life expectancy at 65<br />2006<br />1986<br />2006<br />1986<br />Source: Waldron (2007)<br />
    12. 12. The long-term budget challenge<br />Controlling escalating health care costs<br />
    13. 13. The Long-term Budget Outlook: One view<br />Other Mandatory<br />Medicare & Medicaid<br />Revenue<br />Social Security<br />Net Interest<br />Source: EPI Analysis of CBO Long-Term Budget Outlook and Budget and Economic Update<br />
    14. 14. The Long-term Budget Outlook: Another view<br />Net Interest<br />Other Mandatory<br />Medicare & Medicaid<br />Revenue<br />Social Security<br />Source: EPI Analysis of CBO Long-Term Budget Outlook and Budget and Economic Update<br />
    15. 15. What Drives Health Care Costs<br />Source: Congressional Budget Office (2007)<br />
    16. 16. Health Care Costs in the Private Sector<br />11.7%<br />8.5%<br />
    17. 17. The long-term budget challenge<br />Rebuilding our revenue base<br />
    18. 18. Revenue as a Share of the Economy Hits a 60-Year Low<br />Revenue<br />Deficit<br />Sources: OMB Historical Tables 2.1 (1945-2009), <br />CBO Analysis of the FY2011 Budget (Projections 2010-2020)<br />
    19. 19. The Bush-Era Tax Cuts Account for Half of the Deficit After the Economy Recovers<br />TARP<br />Economic Recovery Measures<br />Other<br />Economic Downturn<br />War costs<br />Bush-era Tax Cuts<br />Source: Center on Budget and Policy Priorities Analysis of CBO Estimates<br />
    20. 20. The long-term budget challenge<br />Investing in growth<br />
    21. 21. With the Exception of Temporary Spending Related to the Recession, Discretionary Spending will be at Historically Low Levels<br />Projected<br />Domestic discretionary spending<br />*Includes Departments of Veterans Affairs, Homeland Security, and State<br />Source: OMB Historical Tables<br />
    22. 22. The Physical Infrastructure Deficit (in billions)<br />Estimated Spending<br />Projected Shortfall<br />(Based on 5-year spending needs) <br />
    23. 23. Public Spending on Childcare and Preschool, 2005<br />U.S.<br />0.4%<br />Source: OECD (2010)<br />
    24. 24. Percentage of Public University Revenue from State Appropriations and Tuition<br />Source: U.S. Department of Education<br />
    25. 25. Our Fiscal Security<br />The Responsible Path toward Recovery and Long-Term Growth<br />

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