Overview of the US Economy and Federal Debt

Overview of the National Economy
Presented by
John Olienyk, PhD
Senior Associate Dean
College of Business
Colorado State University
Burning Issues Lecture Series
YMCA Camp of the Rockies
Estes Park, Colorado
August 10, 2011

http://research.stlouisfed.org/publications/net

http://www.kansascityfed.org/publicat/speeches/2011-henderson-seward-jones-bank-3-15.pdf

Inflation (CPI)
% change from year ago
All Items
Excluding Food and Energy

Duration of Unemployment
Percent of labor force
> 15 weeks
left scale
Median
right scale
< 5 weeks
left scale

Federal Debt
$ trillion

Federal Budget
http://research.stlouisfed.org/publications/net/

Growth in Federal Debt by Presidential Term
http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

http://zfacts.com/p/318.html

Federal Debt as Percentage of GDP

Pres. Obama’s 2012 Budget Proposal
FY 2012 receipts (revenues) ~$2.6 trillion
FY 2012 expenditures ~$3.7 trillion
Defense spending ~5% of GDP (20%)
Social Security spending ~5% of GDP (21%)
Health care programs (Medicare, Medicaid, CHIP) ~6% of GDP (23%)
Unemployment compensation & welfare programs ~4% of GDP (14%)
Interest on federal debt ~2% of GDP (7%)
Other ~4% of GDP (15%)
Budget deficit ~$1.1 trillion ~7% of GDP

FY 2011 Budget
http://www.cbpp.org/cms/index.cfm?fa=view&id=1258Center on Budget and Policy Priorities

The Debt Ceiling Compromise

Overview of the US Economy and Federal Debt

by Dave Wieneke

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