Overview of the US Economy and Federal Debt

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Presented Aug. 10, 2011 by John Olienyk, PhD, Senior Associate Dean, College of Business, Colorado State University. Posted w/Permission.

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Overview of the US Economy and Federal Debt

  1. 1. Overview of the National Economy<br />Presented by<br />John Olienyk, PhD<br />Senior Associate Dean<br />College of Business<br />Colorado State University<br />Burning Issues Lecture Series<br />YMCA Camp of the Rockies<br />Estes Park, Colorado<br />August 10, 2011<br />
  2. 2. http://research.stlouisfed.org/publications/net<br />
  3. 3. http://research.stlouisfed.org/publications/net<br />
  4. 4. http://www.kansascityfed.org/publicat/speeches/2011-henderson-seward-jones-bank-3-15.pdf<br />
  5. 5. Inflation (CPI)<br />% change from year ago<br />All Items<br />Excluding Food and Energy<br />http://research.stlouisfed.org/publications/net<br />
  6. 6. http://research.stlouisfed.org/publications/net<br />
  7. 7. Duration of Unemployment<br />Percent of labor force<br />> 15 weeks<br />left scale<br />Median<br />right scale<br />< 5 weeks<br />left scale<br />http://research.stlouisfed.org/publications/net<br />
  8. 8. Federal Debt<br />$ trillion<br />
  9. 9. Federal Budget<br />http://research.stlouisfed.org/publications/net/<br />
  10. 10. Growth in Federal Debt by Presidential Term<br />http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms<br />
  11. 11. Growth in Federal Debt by Presidential Term<br />http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms<br />
  12. 12. http://zfacts.com/p/318.html<br />
  13. 13. Federal Debt as Percentage of GDP<br />
  14. 14. Pres. Obama’s 2012 Budget Proposal<br />FY 2012 receipts (revenues) ~$2.6 trillion<br />FY 2012 expenditures ~$3.7 trillion<br />Defense spending ~5% of GDP (20%)<br />Social Security spending ~5% of GDP (21%)<br />Health care programs (Medicare, Medicaid, CHIP) ~6% of GDP (23%)<br />Unemployment compensation & welfare programs ~4% of GDP (14%)<br />Interest on federal debt ~2% of GDP (7%)<br />Other ~4% of GDP (15%)<br />Budget deficit ~$1.1 trillion ~7% of GDP<br />
  15. 15. FY 2011 Budget<br />http://www.cbpp.org/cms/index.cfm?fa=view&id=1258Center on Budget and Policy Priorities<br />
  16. 16. The Debt Ceiling Compromise<br />

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