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The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
The Federal Budget(2)
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The Federal Budget(2)

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  • 1. The Federal Budget A Graphical Primer
  • 2. 2008 Budget Forecast <ul><li>$2.902 trillion in total spending </li></ul><ul><li>4.8% raw dollar increase over FY 2007 </li></ul><ul><li>$239 billion projected deficit </li></ul><ul><li>2.0% raw dollar deficit reduction over FY 2007 </li></ul><ul><li>929.8 billion in discretionary spending </li></ul>
  • 3. Where does discretionary spending go?
  • 4. Expenditures <ul><li>Majority of discretionary expenditures for military / security </li></ul><ul><li>Non-discretionary spending counts for almost 3/5 of the total budget </li></ul><ul><li>Social security and emergency funding are considered “off-budget” spending </li></ul>
  • 5. Where does the money come from?
  • 6. Receipts <ul><li>Majority of receipts from individual income tax </li></ul><ul><li>Corporate income tax receipts slightly more than ¼ of individual receipts </li></ul><ul><li>Off-budget (i.e. social security) tax receipts total 674.1 billion </li></ul>
  • 7. On-Budget Receipts and Expenditures since 1901
  • 8. The Changing Budget <ul><li>On-budget spending hit 1 billion for the first time in 1917 </li></ul><ul><li>10 billion in 1918 </li></ul><ul><li>100 billion in 1964 </li></ul><ul><li>1 trillion in 1995 </li></ul><ul><li>2 trillion in 2005 </li></ul><ul><li>Revenue has exceeded expenditures 27 times since 1901 </li></ul><ul><li>Revenue has exceeded expenditures only 3 times since 1960 </li></ul>
  • 9. Budget & GDP <ul><li>Gross Domestic Product (GDP) is the total value of final goods and services produced in a year </li></ul><ul><li>Budget is often discussed as a percentage of GDP </li></ul><ul><li>Useful because inflation makes raw dollar amounts a deceptive indicator </li></ul>
  • 10. Budget & GDP (1940-2008)
  • 11. Budget & GDP <ul><li>As a percentage of GDP, expenditures average 20.4 % with standard deviation of 5.6 </li></ul><ul><li>Standard deviation and average are skewed because of extremely high WWII expenditures </li></ul><ul><li>Disregarding WWII yields 19.6 % with StdDev of 2.8 </li></ul><ul><li>Receipts average 17.5 % with standard deviation of 2.4, since WWII did not affect revenue </li></ul>
  • 12. National Debt <ul><li>The national debt reflects the tendency for budget expenditures to exceed receipts </li></ul><ul><li>Debt rises during budget deficits </li></ul><ul><li>Total current outstanding debt over 9 trillion dollars </li></ul>
  • 13. National Debt since 1940
  • 14. The Federal Budget <ul><li>To learn more about the federal budget, visit www.gpoaccess.gov/usbudget/ </li></ul><ul><li>All statistics gleaned from US government charts and tables </li></ul>
  • 15. Note The photos on slides 1 and 14 are licensed Creative Commons attribution, Slide 1 is flickr member www.flickr.com/photos/pixelcore/ Slide 14 is www.flickr.com/photos/pling/

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