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Explain the Budget

Explaining the Federal budget with facts and research

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PAGE TITLE
Explain the Budget | explainthebudget.com Reviews
<META>
DESCRIPTION
Explaining the Federal budget with facts and research
<META>
KEYWORDS
1 US Budget
2 Federal Budget
3 US Deficit
4 US Debt
5 Spending
6 taxes
7 Obama
8 Congress
9 tea party
10
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front page,spending,taxes,debt,economy,opinion,add a comment,news,what's changed,even $100 billion,really,go to top,and commentary,commentary,breaking news,etb's,data sources,us census bureau,usaspending gov,wants you,contact editors@explainthebudget com
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Explain the Budget | explainthebudget.com Reviews

https://explainthebudget.com

Explaining the Federal budget with facts and research

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1

Taxes

http://www.explainthebudget.com/taxes

US Budget facts, analysis and commentary. Federal, State and Local Taxes. Two things jump out when you look back at 50 years of tax history:. The stability, and slow but steady growth of State and Local taxes. The fluctuations, and volatile recent decline in Federal revenues. From 6.2% in 1950 to a record 10.3% of GDP in 2008, state and local revenues grew 66% over five decades. Since 2008, revenues have declined 5%. Combined we're taxing like it's 1959. Source: White House Office of Management and Budget.

2

Debt

http://www.explainthebudget.com/debt

US Budget facts, analysis and commentary. US Federal debt has grown from a recent low of 56% of GDP in 2001 to an expected 103% in 2011. The growth in the last 10 years accelerated with an 8% increase from 2007 to 2008 followed by a 23% increase in 2009 (and 10% increases per year since). The White House projects the debt will be 105% of GDP in 2016. US Debt in $Trillions and as a % of GDP. Source: White House Office of Management and Budget and ETB calculations. Is it the interest on the debt? Unfortuna...

3

$60 Billion? Even $100 Billion? Really?

http://www.explainthebudget.com/opinion/39-editorial/64-60-billion-seriously.html

US Budget facts, analysis and commentary. Open message to John Boehner. Fiscal Year 2011's deficit is approximately $1.6 Trillion. That's $1,600 Billion. Mr Speaker. Whether your proposed cuts should be described as $60 or $100 billion is a topic for another day. The House's HR-1 budget proposal. And while we don't agree with everything Alan Simpson says, a 3.75% reduction of record 2011 spending is closer to a " sparrow belch in the midst of the typhoon. Than a serious deficit-reducing agenda. Is made p...

4

Economy

http://www.explainthebudget.com/economy

US Budget facts, analysis and commentary. Has GDP (Gross Domestic Product) shrunk? Has the Great Recession distorted the budget numbers? US GDP is right on its twenty year upward trend line. At $14.6 trillion, US GDP is at an all-time high. In 1990 it was only $5.7 trillion. Source: White House Office of Management and Budget. How has the economy affected the budget? Are we still in a recession? Has US GDP shrunk? How bad is the US unemployment problem? What has unemployment done to the deficit?

5

Explain the Budget

http://www.explainthebudget.com/front-page

US Budget facts, analysis and commentary. US Spending and Taxes. Over the last 20 years outlays and receipts stayed near their averages as a percentage of GDP until 2009 (including the surplus years of 1998-2001). Since then, revenue is fully 18% below its historical average (-3.3% of GDP) and spending is 25% above its historical share of total GDP ( 5.1% of GDP). If both outlays and receipts were at their 20 year averages (as a percentage of a US GDP that has more than doubled in absolute dollars. The r...

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