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Crs Report for Congress Received through the Crs Web the Economics of the Federal Budget Deficit Updated January 28, 2005

By Cashell, Brian W.

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Book Id: WPLBN0000121856
Format Type: PDF eBook
File Size: 0.2 MB
Reproduction Date: 2008

Title: Crs Report for Congress Received through the Crs Web the Economics of the Federal Budget Deficit Updated January 28, 2005  
Author: Cashell, Brian W.
Volume:
Language: English
Subject: Government publications, Legislation., Government Printing Office (U.S.)
Collections: Government Library Collection
Historic
Publication Date:
Publisher: Government Printing Office

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Cashell, B. W. (n.d.). Crs Report for Congress Received through the Crs Web the Economics of the Federal Budget Deficit Updated January 28, 2005. Retrieved from http://worldlibrary.net.cn/


Excerpt
Summary: In FY1998, federal budget receipts exceeded outlays for the first time since 1969. Those surpluses continued through FY2001. At one time, those surpluses had been projected to continue, but conditions have since changed. The economy went into recession in 2001, and a stimulus package was enacted. Since then, the budget has been in deficit. The actual unified budget deficit for FY2004 was $412. billion. In January 2005, the Congressional Budget Office projected that there would be a budget deficit of $368 billion in FY2005, and a deficit of $295 billion in FY2006...

Table of Contents
Contents Recent Budget History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Deficit or Surplus, What Difference Does it Make? . . . . . . . . . . . . . . . . . . . 3 Fiscal Policy in the Short Run . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Fiscal Policy in the Long Run . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Reducing the Federal Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 List of Figures Figure 1. Outlays, Receipts, and the Surplus, 1970 — 2004 . . . . . . . . . . . . . . . . 2 Figure 2. Actual and Standardized Budget Surplus . . . . . . . . . . . . . . . . . . . . . . . . 6 Figure 3. Sources of Saving by Sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Figure 4. Federal Debt Held by the Public as a Percentage of GDP . . . . . . . . . . 11

 
 



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