A presentation to the Alaska Interior Republicans to review Alaska's current fiscal situation, where it is headed and the various options for dealing with the continued fiscal gap.
The document is a presentation by the Congressional Budget Office (CBO) Director Phillip L. Swagel to the Prosperity Caucus on October 1, 2020 providing an overview of the CBO's 2020 Long-Term Budget Outlook. The presentation examines projections for federal debt levels and the budget deficit through 2050 under current policies and explores the size of policy changes needed to reduce debt to certain targets. It also analyzes the impact on debt projections of varying assumptions around factors like population growth, economic growth, spending levels, and interest rates.
The document is a presentation by Phillip L. Swagel, Director of the Congressional Budget Office, at the Economic Policy Summit 2020 on September 24, 2020. The presentation provides an overview of CBO's 2020 long-term budget outlook report, including projections for federal debt held by the public, total outlays and revenues, components of outlays and revenues, and the size of policy changes needed to reduce federal debt to 79% or 100% of GDP by 2050.
Fiscal sustainability reporting by the US government - Regina Kearney, United...OECD Governance
This presentation was made by Regina Kearney, United States, at the 15th Annual OECD Public Sector Accruals Symposium held in Paris on 26-27 February 2015.
Nigeria Debt Crisis Over the Years - A tale of Seven PresidentsWaheed Alabede
Comparing the debt profile of Nigeria from 1984 to 2013.On average Pres. Goodluck Jonathan has borrowed more than any other president in the history of NIgeria. He did this at a time of historically higher oil prices.
HJR1 & HB165: Comments of Alaskans for Sustainable Budgets CommentsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HJR 1 & HB165, Rep. Kreiss-Tomkin's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
The Congressional Budget Office released its Budget and Economic Outlook for 2017 to 2027. The report projects modest economic growth, rising interest rates, and continued budget deficits over the next decade. Spending on major health care programs like Medicare and Medicaid are expected to be the largest contributors to increased government outlays. The amount of federal debt held by the public is projected to rise steadily from 77% of GDP in 2017 to 92% in 2027.
This 7-page document discusses sinking funds, amortization schedules, bonds, and bond valuation. It defines key terms related to bonds such as face value, coupon, bond rate, redemption value, and yield rate. It provides examples of sinking fund calculations and amortization schedules. Formulas for calculating redemption value, coupon payments, purchase price, bond premium, bond discount, and market price are also presented.
The document is a presentation by the Congressional Budget Office (CBO) Director Phillip L. Swagel to the Prosperity Caucus on October 1, 2020 providing an overview of the CBO's 2020 Long-Term Budget Outlook. The presentation examines projections for federal debt levels and the budget deficit through 2050 under current policies and explores the size of policy changes needed to reduce debt to certain targets. It also analyzes the impact on debt projections of varying assumptions around factors like population growth, economic growth, spending levels, and interest rates.
The document is a presentation by Phillip L. Swagel, Director of the Congressional Budget Office, at the Economic Policy Summit 2020 on September 24, 2020. The presentation provides an overview of CBO's 2020 long-term budget outlook report, including projections for federal debt held by the public, total outlays and revenues, components of outlays and revenues, and the size of policy changes needed to reduce federal debt to 79% or 100% of GDP by 2050.
Fiscal sustainability reporting by the US government - Regina Kearney, United...OECD Governance
This presentation was made by Regina Kearney, United States, at the 15th Annual OECD Public Sector Accruals Symposium held in Paris on 26-27 February 2015.
Nigeria Debt Crisis Over the Years - A tale of Seven PresidentsWaheed Alabede
Comparing the debt profile of Nigeria from 1984 to 2013.On average Pres. Goodluck Jonathan has borrowed more than any other president in the history of NIgeria. He did this at a time of historically higher oil prices.
HJR1 & HB165: Comments of Alaskans for Sustainable Budgets CommentsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HJR 1 & HB165, Rep. Kreiss-Tomkin's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
The Congressional Budget Office released its Budget and Economic Outlook for 2017 to 2027. The report projects modest economic growth, rising interest rates, and continued budget deficits over the next decade. Spending on major health care programs like Medicare and Medicaid are expected to be the largest contributors to increased government outlays. The amount of federal debt held by the public is projected to rise steadily from 77% of GDP in 2017 to 92% in 2027.
This 7-page document discusses sinking funds, amortization schedules, bonds, and bond valuation. It defines key terms related to bonds such as face value, coupon, bond rate, redemption value, and yield rate. It provides examples of sinking fund calculations and amortization schedules. Formulas for calculating redemption value, coupon payments, purchase price, bond premium, bond discount, and market price are also presented.
The US federal budget for fiscal year 2008 totaled $2.902 trillion in spending with a projected deficit of $239 billion. Most discretionary expenditures went to the military and security. Individual income taxes made up the majority of receipts, while corporate income and social security taxes also contributed significantly. The budget and GDP have been closely linked over time, with expenditures averaging around 20% of GDP since WWII. The national debt has risen whenever there are budget deficits, totaling over $9 trillion currently.
The US federal budget for fiscal year 2008 totaled $2.902 trillion in spending with a projected deficit of $239 billion. Most discretionary expenditures went to the military and security. Individual income taxes made up the majority of receipts, while corporate income and social security taxes also contributed. The budget and GDP are often compared, with expenditures averaging around 20% of GDP since 1940 except during World War II. The national debt has risen when there are budget deficits and currently stands at over $9 trillion.
The FY 2014 Budget Proposals and Where Do We Go From HereMercatus Center
This document summarizes Dr. Jason Fichtner's presentation on the FY 2014 budget proposals and the current fiscal condition. It discusses the Congressional Budget Office's baseline projections of budget deficits and debt through 2023. It notes that autopilot spending on entitlement programs like Medicare, Medicaid and Social Security are driving deficits and debt. The document compares the Obama administration's and House Republican budgets and shows that deficits would remain even if discretionary spending was frozen or cut by 1-2% due to growth in mandatory spending on entitlement programs.
Alaska's Fiscal Situation: Where We've Been, Where We're HeadedBrad Keithley
The document summarizes Alaska's fiscal situation from 2013 to the present and potential options moving forward. From 2013 to 2020, Alaska relied on over $20 billion in additional budget sources including the Constitutional Budget Reserve, Statutory Budget Reserve, and Permanent Fund Dividend diversions. Under current law, from 2021 to 2030 Alaska is projected to face a $1.84 billion annual deficit totaling $18.4 billion. The options presented to address this include spending cuts, taxes, Permanent Fund Dividend cuts, drawing down savings, or a balanced approach of modest spending reductions, new taxes, and Permanent Fund Dividend cuts totaling $1.8 billion annually. Studies show Permanent Fund Divid
One Page Budget Breakdown Summary Presentation Report Infographic Ppt Pdf Doc...SlideTeam
Here we present One Page Budget Breakdown Summary Presentation Report Infographic PPT PDF Document one pager PowerPoint template. The primary objective behind running a business is to make profits, which is partially possible when close watch is kept upon the budget, more specifically the revenue made and expenditure incurred, which is now made achievable by our one page budget breakdown summary template. By making our ready made budget summary PPT template a core part of your business, you will be able to make sure that your expenditures does not overpower your revenues as also your firm sticks around with the decided budget. This amazing budget summary PPT template includes data pertaining to budget breakdown summary of a particular region with projected expenditure and revenue generation in the region. If you need to make any changes to this template, you can surely do so as it offers complete freedom of edits. Grab this One Page Budget Breakdown Summary Presentation Report Infographic PPT PDF Document one pager template now. https://bit.ly/3xmVHDB
The document summarizes key economic statistics and performance metrics for the United Kingdom, including a GDP of $2.88 trillion that grew -0.1% with $39,600 GDP per capita. Inflation was 2.7% and the unemployment rate was 7.7% with 31.72 million in the labor force. The UK had a budget deficit of £120 billion in 2011-2012 that was proposed to decrease to £90 billion in 2012-2013, with revenues of £592 billion and expenses of £682 billion.
The document outlines Ukraine's data release calendar for August 2019. It shows that the Ministry of Finance will release data on outstanding domestic government bonds on August 1st and debt payments on August 5th. The State Statistics Service will publish inflation figures for July 2019 on August 8th. The National Bank of Ukraine will release preliminary international reserve figures for July 2019 on August 12th and revised figures on August 23rd. The State Treasury Service will publish budget execution data for Q2 2019 before August 8th and for June 2019 before August 29th.
The document outlines Ukraine's data release calendar for August 2019, listing various economic reports being released each week by Ukrainian government agencies. Key reports include budget execution for Q2 2019 to be released by August 8; international reserves and inflation for July 2019; a meeting of the National Bank of Ukraine board on monetary policy on August 12; revised international reserves for July and budget execution for June to be released by August 29; and state debt data as of the end of June.
Digital realty 2 q17 earnings presentation finalir_digitalrealty
This document contains forecasts and estimates for 1Q17 and updated forecasts for 2017 and 2018. It predicts continued global GDP growth of 3.5% in 2017 and 3.6% in 2018. US GDP growth is estimated at 2.1% for both 2017 and 2018. Other US forecasts include unemployment dropping to 4.2% by 2018 and inflation rising to 2.1% by 2018. International factors like currency exchange rates and bond yields are also predicted. The technology industry is estimated to see continued growth in areas like IT spending, server shipments, and cloud traffic. Revenue growth rates for 4Q16/15 and 1Q17 are provided for a company, with notes on operating expenses and future financings.
ASPA Webinar: Challenges and Opportunities in State & Local BudgetingPublicFinanceTV
Slides for "Challenges and Opportunities in State & Local Budgeting" webainar, presented December 9, 2014, by Association for Budgeting & Financial Management and American Society for Public Administration
National budget of Bangladesh 2017-18 fiscal year has been published on 2nd June 2017. Here I have summarized all the budgeted facts and figures in simple way. I tried to make the analysis easy and simple to understand. I took help from daily star and Ministry of finance website.
Lower oil prices have caused fiscal deficits in GCC countries, estimated at $302 billion between 2016-2017. GCC governments are expected to raise $260-$400 billion in debt through 2020 to finance deficits, a significant increase compared to $72.1 billion raised 2008-2014. While some GCC countries have sizable fiscal reserves, others like Bahrain and Oman have minimal reserves, and sovereign credit ratings have been downgraded with further downgrades possible. The increased debt issuances will provide investment opportunities for fixed income investors, but GCC sovereign bonds also carry higher risks than other emerging market bonds due to potential geopolitical issues and prolonged low oil prices.
Presentation by Keith Hall, CBO Director, to the American Business Conference.
In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nation’s economic output. The Congressional Budget Office projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectory—the result of strong growth in spending for retirement and health care programs targeted to older people and rising interest payments on the government’s debt, accompanied by only modest growth in revenue collections. Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
North American Fuel Market Updates | August 2018Breakthrough
The end of crude shortages in Libya and Canada, a forecast for the International Maritime Organization (IMO) 2020 Sulfur Compliance, and mid-year diesel fuel tax updates – find this and more in our latest Advisor Brief and on our blog.
The document analyzes the President's FY 2016 budget. It finds that the budget would reduce deficits by about $930 billion over 10 years relative to current law, with debt remaining stable at around 73% of GDP by 2025. Spending would rise from 20.9% of GDP in 2015 to 22.2% in 2025, while revenue would rise from 17.7% to 19.7% of GDP. Deficits would remain at around 2.5% of GDP each year. However, the budget does little to reduce debt levels or slow the growth of entitlement programs like Social Security and Medicare over the long run.
I analysed 5 economic indicators (GDP, BOP, Inflation rate, Unemployment and Exchange rate) of Canada and compare them to those from Argentina.
The presentation was Monday 20/12/2010 in Brussels (EPHEC)
This document summarizes motor fuel pricing and taxes in Miami-Dade, Broward, and Palm Beach counties. It finds that gas prices vary within counties, but are generally higher in Broward and Palm Beach counties due to their higher local option gas taxes of 12 cents compared to Miami-Dade's 10 cents tax. The document also reviews factors that influence gas prices like crude oil costs, supply and demand fluctuations, and recent state gas tax increases aimed to boost transportation funding. A 2-cent increase to Miami-Dade's local gas tax could generate $17.9 million annually for transportation projects.
Coca-Cola reported higher third quarter profits with revenue up 5% and worldwide volume rising 5%. The World Bank warned of risks from rising capital flows to East Asia and said authorities need to carefully manage inflows to avoid bubbles. Apple CEO Steve Jobs declared victory over BlackBerry, citing Apple's 70% jump in quarterly profits and strong sales of iPhones and iPads.
Gunnar Knapp, An Introduction to Alaska Fiscal Facts and Choices (6.5.2015)Brad Keithley
This document provides an overview of Alaska's fiscal challenges and choices. It summarizes that Alaska faces a large budget deficit due to declining oil revenues from lower prices. It depends heavily on oil revenues and savings reserves to fund spending, but oil income has dropped drastically and reserves may be depleted by 2022 without action. The state must decide whether to cut spending, raise new revenues, or use Permanent Fund earnings to address the gap between spending and declining revenues from oil.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
The US federal budget for fiscal year 2008 totaled $2.902 trillion in spending with a projected deficit of $239 billion. Most discretionary expenditures went to the military and security. Individual income taxes made up the majority of receipts, while corporate income and social security taxes also contributed significantly. The budget and GDP have been closely linked over time, with expenditures averaging around 20% of GDP since WWII. The national debt has risen whenever there are budget deficits, totaling over $9 trillion currently.
The US federal budget for fiscal year 2008 totaled $2.902 trillion in spending with a projected deficit of $239 billion. Most discretionary expenditures went to the military and security. Individual income taxes made up the majority of receipts, while corporate income and social security taxes also contributed. The budget and GDP are often compared, with expenditures averaging around 20% of GDP since 1940 except during World War II. The national debt has risen when there are budget deficits and currently stands at over $9 trillion.
The FY 2014 Budget Proposals and Where Do We Go From HereMercatus Center
This document summarizes Dr. Jason Fichtner's presentation on the FY 2014 budget proposals and the current fiscal condition. It discusses the Congressional Budget Office's baseline projections of budget deficits and debt through 2023. It notes that autopilot spending on entitlement programs like Medicare, Medicaid and Social Security are driving deficits and debt. The document compares the Obama administration's and House Republican budgets and shows that deficits would remain even if discretionary spending was frozen or cut by 1-2% due to growth in mandatory spending on entitlement programs.
Alaska's Fiscal Situation: Where We've Been, Where We're HeadedBrad Keithley
The document summarizes Alaska's fiscal situation from 2013 to the present and potential options moving forward. From 2013 to 2020, Alaska relied on over $20 billion in additional budget sources including the Constitutional Budget Reserve, Statutory Budget Reserve, and Permanent Fund Dividend diversions. Under current law, from 2021 to 2030 Alaska is projected to face a $1.84 billion annual deficit totaling $18.4 billion. The options presented to address this include spending cuts, taxes, Permanent Fund Dividend cuts, drawing down savings, or a balanced approach of modest spending reductions, new taxes, and Permanent Fund Dividend cuts totaling $1.8 billion annually. Studies show Permanent Fund Divid
One Page Budget Breakdown Summary Presentation Report Infographic Ppt Pdf Doc...SlideTeam
Here we present One Page Budget Breakdown Summary Presentation Report Infographic PPT PDF Document one pager PowerPoint template. The primary objective behind running a business is to make profits, which is partially possible when close watch is kept upon the budget, more specifically the revenue made and expenditure incurred, which is now made achievable by our one page budget breakdown summary template. By making our ready made budget summary PPT template a core part of your business, you will be able to make sure that your expenditures does not overpower your revenues as also your firm sticks around with the decided budget. This amazing budget summary PPT template includes data pertaining to budget breakdown summary of a particular region with projected expenditure and revenue generation in the region. If you need to make any changes to this template, you can surely do so as it offers complete freedom of edits. Grab this One Page Budget Breakdown Summary Presentation Report Infographic PPT PDF Document one pager template now. https://bit.ly/3xmVHDB
The document summarizes key economic statistics and performance metrics for the United Kingdom, including a GDP of $2.88 trillion that grew -0.1% with $39,600 GDP per capita. Inflation was 2.7% and the unemployment rate was 7.7% with 31.72 million in the labor force. The UK had a budget deficit of £120 billion in 2011-2012 that was proposed to decrease to £90 billion in 2012-2013, with revenues of £592 billion and expenses of £682 billion.
The document outlines Ukraine's data release calendar for August 2019. It shows that the Ministry of Finance will release data on outstanding domestic government bonds on August 1st and debt payments on August 5th. The State Statistics Service will publish inflation figures for July 2019 on August 8th. The National Bank of Ukraine will release preliminary international reserve figures for July 2019 on August 12th and revised figures on August 23rd. The State Treasury Service will publish budget execution data for Q2 2019 before August 8th and for June 2019 before August 29th.
The document outlines Ukraine's data release calendar for August 2019, listing various economic reports being released each week by Ukrainian government agencies. Key reports include budget execution for Q2 2019 to be released by August 8; international reserves and inflation for July 2019; a meeting of the National Bank of Ukraine board on monetary policy on August 12; revised international reserves for July and budget execution for June to be released by August 29; and state debt data as of the end of June.
Digital realty 2 q17 earnings presentation finalir_digitalrealty
This document contains forecasts and estimates for 1Q17 and updated forecasts for 2017 and 2018. It predicts continued global GDP growth of 3.5% in 2017 and 3.6% in 2018. US GDP growth is estimated at 2.1% for both 2017 and 2018. Other US forecasts include unemployment dropping to 4.2% by 2018 and inflation rising to 2.1% by 2018. International factors like currency exchange rates and bond yields are also predicted. The technology industry is estimated to see continued growth in areas like IT spending, server shipments, and cloud traffic. Revenue growth rates for 4Q16/15 and 1Q17 are provided for a company, with notes on operating expenses and future financings.
ASPA Webinar: Challenges and Opportunities in State & Local BudgetingPublicFinanceTV
Slides for "Challenges and Opportunities in State & Local Budgeting" webainar, presented December 9, 2014, by Association for Budgeting & Financial Management and American Society for Public Administration
National budget of Bangladesh 2017-18 fiscal year has been published on 2nd June 2017. Here I have summarized all the budgeted facts and figures in simple way. I tried to make the analysis easy and simple to understand. I took help from daily star and Ministry of finance website.
Lower oil prices have caused fiscal deficits in GCC countries, estimated at $302 billion between 2016-2017. GCC governments are expected to raise $260-$400 billion in debt through 2020 to finance deficits, a significant increase compared to $72.1 billion raised 2008-2014. While some GCC countries have sizable fiscal reserves, others like Bahrain and Oman have minimal reserves, and sovereign credit ratings have been downgraded with further downgrades possible. The increased debt issuances will provide investment opportunities for fixed income investors, but GCC sovereign bonds also carry higher risks than other emerging market bonds due to potential geopolitical issues and prolonged low oil prices.
Presentation by Keith Hall, CBO Director, to the American Business Conference.
In fiscal year 2016, for the first time since 2009, the federal budget deficit increased in relation to the nation’s economic output. The Congressional Budget Office projects that over the next decade, if current laws remained generally unchanged, budget deficits would eventually follow an upward trajectory—the result of strong growth in spending for retirement and health care programs targeted to older people and rising interest payments on the government’s debt, accompanied by only modest growth in revenue collections. Those accumulating deficits would drive debt held by the public from its already high level up to its highest percentage of gross domestic product (GDP) since shortly after World War II.
North American Fuel Market Updates | August 2018Breakthrough
The end of crude shortages in Libya and Canada, a forecast for the International Maritime Organization (IMO) 2020 Sulfur Compliance, and mid-year diesel fuel tax updates – find this and more in our latest Advisor Brief and on our blog.
The document analyzes the President's FY 2016 budget. It finds that the budget would reduce deficits by about $930 billion over 10 years relative to current law, with debt remaining stable at around 73% of GDP by 2025. Spending would rise from 20.9% of GDP in 2015 to 22.2% in 2025, while revenue would rise from 17.7% to 19.7% of GDP. Deficits would remain at around 2.5% of GDP each year. However, the budget does little to reduce debt levels or slow the growth of entitlement programs like Social Security and Medicare over the long run.
I analysed 5 economic indicators (GDP, BOP, Inflation rate, Unemployment and Exchange rate) of Canada and compare them to those from Argentina.
The presentation was Monday 20/12/2010 in Brussels (EPHEC)
This document summarizes motor fuel pricing and taxes in Miami-Dade, Broward, and Palm Beach counties. It finds that gas prices vary within counties, but are generally higher in Broward and Palm Beach counties due to their higher local option gas taxes of 12 cents compared to Miami-Dade's 10 cents tax. The document also reviews factors that influence gas prices like crude oil costs, supply and demand fluctuations, and recent state gas tax increases aimed to boost transportation funding. A 2-cent increase to Miami-Dade's local gas tax could generate $17.9 million annually for transportation projects.
Coca-Cola reported higher third quarter profits with revenue up 5% and worldwide volume rising 5%. The World Bank warned of risks from rising capital flows to East Asia and said authorities need to carefully manage inflows to avoid bubbles. Apple CEO Steve Jobs declared victory over BlackBerry, citing Apple's 70% jump in quarterly profits and strong sales of iPhones and iPads.
Gunnar Knapp, An Introduction to Alaska Fiscal Facts and Choices (6.5.2015)Brad Keithley
This document provides an overview of Alaska's fiscal challenges and choices. It summarizes that Alaska faces a large budget deficit due to declining oil revenues from lower prices. It depends heavily on oil revenues and savings reserves to fund spending, but oil income has dropped drastically and reserves may be depleted by 2022 without action. The state must decide whether to cut spending, raise new revenues, or use Permanent Fund earnings to address the gap between spending and declining revenues from oil.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
The document provides an update on Alaska's tax credits and revenue projections from the Department of Revenue. It summarizes that the outlook is uncertain due to COVID-19 and volatility in oil prices and the economy. It also discusses the potential impacts of Ballot Measure 1, which would increase oil taxes but decrease producer profits and investments. The measure could more than double tax revenues from the North Slope at current oil prices according to estimates, but also increase uncertainty for producers. Contact information is provided for the Commissioner of Revenue and Chief Economist for any additional questions.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
CBO estimates that the federal budget deficit in 2020 will be $1.0 trillion, or 4.6 percent of gross domestic product (GDP). It would increase to 5.4 percent of GDP in 2030 if current law did not change. In CBO’s projections, federal debt held by the public reaches $17.9 trillion at the end of 2020. That amount equals 81 percent of GDP—more than twice its average over the past 50 years. By 2030, debt is projected to reach $31.4 trillion, or 98 percent of GDP, a larger percentage than at any time since just after World War II. It would continue to grow after 2030, reaching 180 percent of GDP by 2050.
Inflation-adjusted GDP is projected to grow by 2.2 percent this year, largely because of continued strength in consumer spending and a rebound in business fixed investment. Output is projected to be higher than the economy’s maximum sustainable output in 2020 to a greater degree than it has been in recent years, leading to higher inflation and interest rates after a period in which both were low, on average. CBO projects that continued strength in the demand for labor will keep the unemployment rate low and drive employment and wages higher. Then over the coming decade, the economy is projected to expand at an average annual rate of 1.7 percent, roughly the same rate as its potential rate of growth.
Alaska's Fiscal Crisis: The Challenge, the Solution and How to Achieve It (1....Brad Keithley
This document discusses Alaska's fiscal crisis and proposes a solution. It notes that Alaska is projected to run out of savings by 2023 due to declining oil revenues and continued overspending. The proposed solution is to set a sustainable budget level based on expected revenues from the Permanent Fund, oil/gas production, and other sources. The sustainable budget level is estimated at $4.5 billion annually. However, the current budget is $5.9 billion, which is $1.4 billion over the sustainable level. To achieve fiscal sustainability, annual budget reductions of around $500 million are recommended over three years to bring spending in line with expected long-term revenues. The document argues for the governor and legislature to work together to
Presentation to Alaska Policy Frontiers (11.22.2014final)Brad Keithley
The document summarizes Alaska's fiscal situation given declining oil prices and revenues. It finds that (1) if oil prices remain around $85, Alaska will face a $3.3 billion deficit draining its savings within 3 years; (2) revenues depend on uncertain oil prices and new production, but even if production increases are realized, taxes or spending cuts will still be needed; and (3) to avoid an economic crisis, Alaska must implement sustainable budgeting that lives within its means through savings to supplement volatile revenues over time.
The Congressional Budget Office presentation discusses:
1) Projections of growing budget deficits and debt levels through 2029, with deficits averaging 4.4% of GDP and debt held by the public rising to 96% of GDP.
2) The economy is expected to grow by 2.7% in 2019 and 1.9% in 2020, slower than recent years but still positive, with low unemployment and inflation.
3) Spending is projected to outpace revenue growth due to rising healthcare and interest costs, while tax cuts will increase deficits by $1.9 trillion from 2018-2028.
The Budget and Economic Outlook, a recurring publication of the Congressional Budget Office, provides budget and economic projections that incorporate the assumption that current laws governing federal spending and revenues generally remain in place. Those baseline projections cover the 10-year period used in the Congressional budget process. The report generally describes the differences between the current projections and previous ones; compares the economic forecast with those of other forecasters; and shows the budgetary impact of some alternative policy assumptions. This presentation describes the projections and provides some recent examples.
In 2020, CBO estimates a deficit of $1.0 trillion, or 4.6 percent of gross domestic product (GDP). Under current law, the projected gap between outlays and revenues increases to 5.4 percent of GDP in 2030. Federal debt held by the public is projected to rise over the coming decade, from 81 percent of GDP in 2020 to 98 percent of GDP in 2030. It continues to grow thereafter, in CBO’s projections, reaching 180 percent of GDP in 2050, well above the highest level ever recorded in the United States.
In CBO’s projections, the federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Over the coming decade, deficits (after adjustments to exclude shifts in the timing of certain payments) fluctuate between 4.1 percent and 4.7 percent of gross domestic product (GDP), well above the average over the past 50 years. CBO’s projection of the deficit for 2019 is now $75 billion less—and its projection of the cumulative deficit over the 2019–2028 period, $1.2 trillion less—than it was in spring 2018. That reduction in projected deficits results primarily from legislative changes—most notably, a decrease in emergency spending.
Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of GDP in 2029 (its highest level since just after World War II) and about 150 percent of GDP in 2049—far higher than it has ever been. Moreover, if lawmakers amended current laws to maintain certain policies now in place, even larger increases in debt would ensue.
Real GDP is projected to grow by 2.3 percent in 2019—down from 3.1 percent in 2018—as the effects of the 2017 tax act on the growth of business investment wane and federal purchases, as projected under current law, decline sharply in the fourth quarter of 2019. Nevertheless, output is projected to grow slightly faster than its maximum sustainable level this year, continuing to boost the demand for labor and to push down the unemployment rate. After 2019, annual economic growth is projected to slow further—to an average of 1.7 percent through 2023, which is below CBO’s projection of potential growth for that period. From 2024 to 2029, economic growth and potential growth are projected to average 1.8 percent per year—less than their long-term historical averages, primarily because the labor force is expected to grow more slowly than it has in the past.
Presentation by Wendy Edelberg, an Associate Director for Economic Analysis at CBO, at the Fixed Income Forum 2019 Spring Roundtable.
Alaska faces a serious fiscal challenge due to falling oil revenues from low oil prices. The state is spending over twice as much as its revenues and paying the deficit by drawing down savings, which cannot be sustained. In coming years, Alaska will need to close the large gap between spending and revenues by making significant cuts to spending, enacting new revenues, and/or using earnings from the Permanent Fund. There are no easy choices, as major changes are needed to achieve a balanced budget.
Similar to Alaska's Fiscal Situation: Where We've Been, Where We're Headed (15)
Testimony before HRES on South Central GasBrad Keithley
By invitation, we testified before the Alaska House Resources Committee on March 15, 2024, on Southcentral Gas Supply. The presentation was part of the Committee's look into the implications of the challenges currently facing Cook Inlet gas supplies.
The presentation addressed both energy and fiscal policy. Our theme was simple: " Let the market decide" and no subsidies. But if there are subsidies, they should be paid for other than through PFD cuts.
The slide-deck we used is attached here. The hearing itself is available at https://bit.ly/48YyBFf.
Presentation to Greater Fairbanks Chamber of Commerce's Government Relations ...Brad Keithley
Our September 27, 2022, presentation to the Greater Fairbanks Chamber of Commerce's Govt Relations Comm on Alaska's current fiscal situation and our views on the positions of the candidates for Alaska Governor in response.
Comments in opposition to SB 199 & SB 200 (2.20.2022)Brad Keithley
The comments of Alaskans for Sustainable Budgets in opposition to Senate Finance Committee bills SB 199 & SB 200, which propose to substantially restructure and cut the Permanent Fund Dividend.
HB 202 (HFIN): Comments of Alaskans for Sustainable BudgetsBrad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets with the House Finance Committee on HB 202 (Rep. Merrick) proposing a restructuring of and cuts in the Alaska Permanent Fund Dividend (PFD).
HB 202 & HB 37 (Statutory PFD Reductions): Comments of Alaskans for Sustainab...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 202 (Rep. Merrick) & HB 37 (Rep. Wool) proposing (and in the case of HB 37, some substitute revenues to reduce the level of) cuts in the Alaska Permanent Fund Dividend (PFD).
HB 189 (Employment Tax for Education): Comments of Alaskans for Sustainable B...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HB 189, the House Ways & Means Committee bill which would establish an employment tax for education.
HFIN CS for HB69 (work draft presented 4.23.2021): Comments of Alaskans for S...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on HFIN CS for HB69, the House Finance Committee's proposed committee substitute for HB69, the Governor's proposed operating budget.
SJR6/SB53 (HJR7/HB73): Comments of Alaskans for Sustainable Budgets Comments ...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR6/SB53 (HJR7/HB73), the Governor's proposed Constitutional Amendments relating to the Alaska permanent fund, appropriations from the permanent fund, and the permanent fund dividend.
SJR 1 (Guarantee Perm Fund Dividend): Comments of Alaskans for Sustainable Bu...Brad Keithley
Comments filed on behalf of Alaskans for Sustainable Budgets on SJR 1, Sen. Wielechowski's proposed Constitutional Amendment to Guarantee the Permanent Fund Dividend
The Economic Impact on Alaska of Various Fiscal Solutions (4.10.2021)Brad Keithley
This document summarizes several studies on the economic impact of different fiscal solutions for Alaska's budget deficit. The 2016 ISER study examined the impact of options like spending cuts, PFD cuts, and tax increases on income, jobs, distribution across income levels, and regions of Alaska. It found that PFD cuts would have the largest adverse impact on the economy and families. Subsequent ISER studies reinforced that PFDs significantly reduce poverty. A 2019 study argued for reduced spending and analyzed revenue options using static and dynamic models. A 2020 Tax Foundation study argued that certain taxes like sales taxes could have lower economic impact than others, but it provided limited analysis. The presentation concludes by advocating for a flat tax as the best option to
Impact of Proposed PFDCuts on Alaska Income & Jobs (Supplement to 3.4.2021 Le...Brad Keithley
This presentation is to supplement the 3.4.2021 LegFin Presentation to the Senate Finance Committee to analyze the impact of the PFDcuts discussed there on Alaska income & jobs.
Distributional Impact of Proposed PFDCuts on Alaska Families by Income Bracke...Brad Keithley
This presentation is to supplement the 3.4.2021 LegFin Presentation to the Senate Finance Committee to analyze the distributional impact by income bracket of the level of PFDcuts discussed there.
Analysis by the Legislative Finance Division of Alaska's fiscal position: how we got here, where we are and where we are headed under various alternatives.
DNR Fall 2020 Production Forecast (1.27.2021)Brad Keithley
The document provides a summary of Alaska's 2020 oil production forecast. It notes that the COVID-19 pandemic disrupted production in 2020, leading to deferred maintenance and interrupted drilling. The forecast expects average 2021 production of 470,000 barrels per day, within the range of 413,000 to 526,000 barrels per day. Currently producing fields will remain the backbone of production, while future projects under development or evaluation could help offset declining output from mature fields over the long term. However, uncertainty increases in longer-term forecasts due to risks associated with new projects.
LegFin: Preliminary Overview of the Governor's FY22 Budget (1.8.2021)Brad Keithley
The document provides a preliminary overview of Alaska's structural budget deficit and the Governor's FY2022 budget proposal. It notes that Alaska has faced nine consecutive years of budget deficits due to declining oil revenue. The Governor's budget reduces spending from the current law baseline through lower agency budgets and partial funding of items like the PFD. It draws funds from the ERA to fully pay the PFD but still faces a small deficit. The 10-year plan aims to balance the budget starting in FY2023 through dividend reductions, spending cuts, and new revenue.
Upcoming Federal Fiscal Deadlines (10.20.2020)Brad Keithley
The document outlines key fiscal and economic deadlines and expirations for 2020 through 2026, including temporary extensions of appropriations, tax provisions, and entitlement programs. Key dates include the expiration of pandemic unemployment programs and various tax extenders at the end of 2020, debt limit suspension ending in July 2021, and trust funds for Medicare, Social Security, and pensions anticipated to be exhausted between 2024-2031 based on Congressional Budget Office projections.
Concord Coalition: The Current US Fiscal Situation (October 2020)Brad Keithley
A chart talk from The Concord Coalition analyzing the fiscal challenges facing the US before COVID, and how the economic impact of COVID and the federal response has made that situation even more difficult.
Leg finance presentation: FY21/22 Fiscal Update (10.02.2020)Brad Keithley
This document summarizes Alaska's fiscal situation and budget outlook for FY2021 and FY2022. For FY2021, it notes some budget issues like shortfalls in revenue for agencies due to COVID-19 and incomplete capital appropriations. For FY2022, it presents two potential budget scenarios based on current law (with a $3,100 PFD) and current policy (with a $1,000 PFD), finding deficits of $2.4 billion and $902.6 million respectively under 10/2/20 revenue projections. Key factors like fund balances, statewide appropriations, and agency operations are also outlined.
La defensa del expresidente Juan Orlando Hernández, declarado culpable por narcotráfico en EE. UU., solicitó este viernes al juez Kevin Castel que imponga una condena mínima de 40 años de prisión.
15062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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“What Else Are They Talking About?”: A Large-Scale Longitudinal Analysis of M...Axel Bruns
Paper by Daniel Angus, Stephen Harrington, Axel Bruns, Phoebe Matich, Nadia Jude, Edward Hurcombe, and Ashwin Nagappa, presented at the ICA 2024 conference, Gold Coast, 22 June 2024.
19 जून को बॉम्बे हाई कोर्ट ने विवादित फिल्म ‘हमारे बारह’ को 21 जून को थिएटर में रिलीज करने का रास्ता साफ कर दिया, हालांकि यह सुनिश्चित करने के बाद कि फिल्म निर्माता कुछ आपत्तिजनक अंशों को हटा दें।
La defensa del expresidente Juan Orlando Hernández, declarado culpable por narcotráfico en EE. UU., solicitó este viernes al juez Kevin Castel que imponga una condena mínima de 40 años de prisión.
22062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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यूजीसी-नेट और NEET परीक्षा (कई अन्य के अलावा, 2018 तक सीबीएसई द्वारा आयोजित की जाती थी, जो भारत में सार्वजनिक और निजी स्कूलों के लिए एक राष्ट्रीय शिक्षा बोर्ड था (और है), जिसे भारत सरकार द्वारा नियंत्रित और प्रबंधित किया जाता था।
विवादास्पद फिल्म के ट्रेलर से गाली-गलौज वाले दृश्य हटा दिए गए हैं, और जुर्माना लगाया गया है। सुप्रीम कोर्ट और बॉम्बे हाई कोर्ट दोनों ने फिल्म की रिलीज पर रोक लगा दी है और उसे निलंबित कर दिया है। पहले यह फिल्म 7 जून और फिर 14 जून को रिलीज होने वाली थी, लेकिन अब यह 21 जून को रिलीज हो रही है।
Federal Authorities Urge Vigilance Amid Bird Flu Outbreak | The Lifesciences ...The Lifesciences Magazine
Federal authorities have advised the public to remain vigilant but calm in response to the ongoing bird flu outbreak of highly pathogenic avian influenza, commonly known as bird flu.
Shark Tank Jargon | Operational ProfitabilityTheUnitedIndian
Don't let fancy business words confuse you! This blog is your cheat sheet to understanding the Shark Tank Jargon. We'll translate all the confusing terms like "valuation" (how much the company is worth) and "royalty" (a fee for using someone's idea). You'll be swimming with the Sharks like a pro in no time!
16062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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18062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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19 जून को बॉम्बे हाई कोर्ट ने विवादित फिल्म ‘हमारे बारह’ को 21 जून को थिएटर में रिलीज करने का रास्ता साफ कर दिया, हालांकि यह सुनिश्चित करने के बाद कि फिल्म निर्माता कुछ आपत्तिजनक अंशों को हटा दें।
17062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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Why We Chose ScyllaDB over DynamoDB for "User Watch Status"ScyllaDB
Yichen Wei and Adam Drennan share the architecture and technical requirements behind "user watch status" for a major global media streaming service, what that meant for their database, the pros and cons of the many options they considered for replacing DynamoDB, why they ultimately chose ScyllaDB, and their lessons learned so far.
21062024_First India Newspaper Jaipur.pdfFIRST INDIA
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#WenguiGuo#WashingtonFarm Guo Wengui Wolf son ambition exposed to open a far...rittaajmal71
Since fleeing to the United States in 2014, Guo Wengui has founded a number of projects in the United States, such as GTV Media Group, GTV private equity, farm loan project, G Club Operations Co., LTD., and Himalaya Exchange.
2. The backdrop: oil price & production
* We were facing
large revenue
shortfalls before
* They have
become much
worse in the last
few months
* FY 21 oil price
40% lower than
forecast even 6
mos ago (Dec ‘19)
3. Where are we now ...
* While revs
are falling (⬇
34% from
FY19) ...
* … spending
has declined
only slightly
(⬇ 6% from
FY19).
4. Where are we now …
* Even w/
rising PFD
diversions,
con’t reliance
on savings
draw
* But: CBR
effectively
depleted by
end of FY21
5. Where are we now …
* “Rainy day”
funds
(SBR/CBR)
depleted
* Under
Constitution,
CBR draws are
a loan
6. Where are we headed ...
* Key point:
FY21 is only the
tip of the fiscal
iceberg
* Even capping
spending at
inflation, 10 yr
deficit avg’s
$1.63B/yr
7. What are the options ...
* OMB FY21
10-year plan:
- Spending
cuts
- PFD
restructuring
- Substitute
revs
* Scenario 5:
“Balanced”
8. Two comments about PFD cuts ...
“ The impact of the PFD cut falls almost
exclusively on residents, and it is highly
regressive, so it has the largest adverse
impact on the economy per dollar of
revenues raised.” -- Short-Run Economic
Impact of Alaska Fiscal Options (May 2016)
“ A cut in PFDs would be by far the costliest
measure for Alaska families.” -- How Much
Might Closing the State Budget Gap Cost
Alaska Families? (Feb 2017)
9. Two comments about PFD cuts …
* Regressive
* FY21: Diverts
3.5% of AGI
from private to
public sector
* .. but takes
most from
middle & lower
income
brackets