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Debt trajectory data hf


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This is a PPT that I created for a discussion of the US Federal Budget, the Deficit, and the Debt. Many of the slides are public domain items for Heritage Foundation and Concord Coalition. It led to some very good non-partisan discussions. There is hope!

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Debt trajectory data hf

  1. 1. The Federal BudgetA (Hopefully) Non-Partisan Review and Discussion of the Data and Options. Joseph D. Botana II CPA September 23rd, 2012
  2. 2. These piecharts illustratethe composition $3.5 TRof our federal spendingbudget.The four largest sourcesof spending -- Health,Social Security, Defense,and Income Security --constitute over 75% ofannual expenditures.While the governmentbrings in most of itsrevenue from incometaxes and socialinsurance taxes, thesecond pie chartdemonstrates that thedeficit is similar in size tothese revenue sources.As a result, ourgovernment spends asignificant part of thebudget on annual interest, $2.3 TRa percentage that willcontinue to grow as revenuesdeficits accumulate anddebt increases.
  3. 3. Revenues,Outlays, andthe Deficit: This line graphshows historical andprojected data for U.S.outlays and revenues.Only four times since1968 have revenuesexceeded outlays,thereby eliminating thedeficit. Current policyprojections show thatthe government isunlikely to come close tobudget balance in futureyears. Projections ofcurrent law get closer,but still dont achievebalance.
  4. 4. MANDATORY SPENDINGMandatory spending accounts for more than 60% of the federal budget. This bar chart shows theprojected amount, in billions of dollars, spent on select mandatory programs like Social Security, Medicare, and Medicaid.
  5. 5. This bar chart shows how the federal budget will grow and change over the next twenty years . As a percentage of GDP, the largest source of growth will be the rising interest on the U.S. national debt.
  6. 6. Outlays & Revenues: This line graph shows historical and projected data for U.S. outlaysand revenues. Only four times since 1968 have revenues exceeded outlays, thereby eliminating thedeficit. Current policy projections show that the government is unlikely to come close to budget balance infuture years. Projections of current law get closer, but still dont achieve balance.
  7. 7. Americans arecarrying lighterdebt burdens.Debt held byhouseholds andnonprofits — includingmoney owed onmortgages, studentloans, auto loans andcredit cards — wasequivalent to 113.2% ofafter-tax income as ofJune, the lowest levelsince 2003. Afterpeaking at 134.4% insummer 2007,household debt hasfallen as consumersmake payments andwipe out debt throughforeclosure andbankruptcy.