Table 2.2—Percentage Composition of Receipts by Source: 1934–2025 The numbers you have listed are results not BUDGETS. Table 11.2—Functional Composition of Outlays for Payments for Individuals: 1940–2025 Learn more about the deficit with a new interactive version of the infographic. Table 5.4—Discretionary Budget Authority by Agency: 1976–2025 Right now, I don’t have the time to invest in research actual budgets, but I’ll try to get to that. These new sources of funding would fuel the budget growth as portrayed by the upward trend of the blue line in the chart. Table 1.3—Summary of Receipts, Outlays, and Surpluses or Deficits (-) in Current Dollars, Constant (FY 2012) Dollars, and as Percentages of GDP: 1940–2025 The federal deficit in 2019 was $984 billion, equal to 4.6 percent of gross domestic product. These are not budgets. Medicaid, SNAP, formerly food stamps, Supplemental Security Income, and other). The 1980 savings and loan crisis fueled the decade-long deep recession, and its 1990 resurgence led in 1990-92 to another recession of the economy already weakened by the 1987 Black Monday stock crash. Your email address will not be published. Deficits became rampant since the early 1950s, although large deficits were incurred in time of major wars (Korea 1950-53. and Vietnam 1964-73) or as a result of recessions (the 1973 OPEC oil price shock). Table 1.2—Summary of Receipts, Outlays, and Surpluses or Deficits (-) as Percentages of GDP: 1930–2025 ¹ Billion constant USD, 2009=100. Over the 119 years since 1901, including the government estimates extending through 2019, the federal budget is 89 times (75% of the time) on the red (deficit), and only 30 times (25%) on the black (surplus). 2 The 1950 milestone indicates the point where federal budget deficit ceased to be the result of a combination of circumstances such as war engagements or economic depressions, to become a structural phenomenon inherent to the federal budgeting behavior. Table 5.6—Budget Authority for Discretionary Programs: 1976–2025 Table 6.1—Composition of Outlays: 1940–2025 Table 7.1—Federal Debt at the End of Year: 1940–2025 Table 8.4—Outlays by Budget Enforcement Act Category as Percentages of GDP: 1962–2025 The Great Depression followed by World War II resulted in a long, unbroken string of deficits that were historically unprecedented in magnitude, attaining $216 billion for the period 1931-1946. Table 2.5—Composition of “Other Receipts”: 1940–2025, Table 3.1—Outlays by Superfunction and Function: 1940–2025 Income tax grew quickly in importance, amounting to 60% of federal receipts in 1930, and 79% in 1944. Truth | Knowledge | Patriotism: Your Weapons on the Battlefield of Ideas. Table 8.8—Outlays for Discretionary Programs in Constant (FY 2012) Dollars: 1962–2025, Table 9.1—Total Investment Outlays for Physical Capital, Research and Development, and Education and Training: 1962–2021 In general, Democrats favor the principles of Keynesian economics to encourage economic growth via a mixed economy of both private and public enterprise, a welfare state, and strong regulatory oversight. A closer view reveals that the two budget lines hovered very close to each other until well into the 20th century. Required fields are marked *, “A free society cannot work unless people take charge of their lives and assume responsibility for their actions.” – Jim Powell, Source: Congressional Budget Office (1968-2008) &. You know those made up make believe “intelligent” guesses. Table 14.6—Total Government Surpluses or Deficits (-) in Absolute Amounts and as Percentages of GDP: 1948–2019, Table 15.1—Total Outlays for Health Programs: 1962–2025, Table 16.1—Total Executive Branch Civilian Full-Time Equivalent (FTE) Employees, 1981–2021 Updated June 29, 2020 Current U.S. government spending is $4.829 trillion. Table 4.2—Percentage Distribution of Outlays by Agency: 1962–2025, Table 5.1—Budget Authority by Function and Subfunction: 1976–2025 Table 8.7—Outlays for Discretionary Programs: 1962–2025 Table 5.6—Budget Authority for Discretionary Programs: 1976–2025, Table 6.1—Composition of Outlays: 1940–2025, Table 7.1—Federal Debt at the End of Year: 1940–2025 Table 9.3—Major Public Physical Capital Investment Outlays in Percentage Terms: 1940–2021 The scenario is a plain nonlinear extrapolation of the actual budget data for 1929-2013, after adjustment of current dollars to real dollars, 2009=100, by applying a series of chain-weighted price indexes to the current dollar data base ( done by the source ). Appendix Table 9.8—Composition of Outlays for the Conduct of Research and Development: 1949–2021 Screw creditors: default on payments of interests and principal and renegotiate the whole package. Table 14.5—Total Government Expenditures by Major Category of Expenditure as Percentages of GDP: 1948–2019 Sheer demographics, namely an aging and longer-living population, combined with an anemic economy, cause these categories of spending to swell at a faster rate than receipts, thus fostering budget imbalances. Interest on the debt, which usually uses less than 10 percent of all funding 3. '); The White House and the Congress recurrently issue statements of good intentions, promising to repent from profligacy and to return to balanced finances. The yearly growth of forecast outlays surpasses the growth of forecast receipts, producing, other things remaining equal, a structural deficit unstoppable by conventional means. Many of the debates surrounding the United States federal budget center around competing macroeconomic schools of thought. Supplemental Materials Analytical Perspectives Table 5.5—Percentage Distribution of Discretionary Budget Authority by Agency: 1976–2025 The 1973 OPEC oil price shock led to the 1975-1976 recession. What were the BUDGET numbers set by the Congress. Source: Congressional Budget Office (1968-2008) & U.S. Government Printing Office (1789-1967, 2009-2019), Where can I find the detail budgets for all years since 1789? The budget structure itself imposes the sourcing of "trust funds" to finance such mandatory programs as Social Security, Medicare, unemployment insurance, and other programs subject to an income or asset test (e.g. Table 5.3—Percentage Distribution of Budget Authority by Agency: 1976–2025 A Trip Down Memory Lane: Fighting the False Narrative that Republicans Swapped Places with Democrats, Becoming the New Racist Party. The last four years are projected numbers. Table 16.2—Total Executive Branch Civilian Full-Time Equivalent (FTE) Employees, 1981–2021 (as percentage of total), Budget Dale, Pleasing you should think of soimhteng like that. Federal agency funding, called discretionary spending—the area Congress sets annually. The 1861-1865 Civil war, the 1898 Spanish war, the 1899-1902 Philippine war, combined with the 1890 depression, account for the deficit of about $1 billion accumulated in the years 1850-1900. Stop the waste: end the wars and curtail the military buildup altogether. Meanwhile, fundamental changes had taken place on the receipts side of the budget. Furthermore in 1935, social insurance and retirement taxes, also known as payroll taxes, were introduced by means of the Social Security Act. A period of more or less balanced budgets followed. provision of medical care, subsidies to reduce the cost of housing, unemployment compensation, food and nutrition assistance), all of which are strong deficit-inducing factors. Table 14.2—Total Government Expenditures: 1948–2019 Table 9.4—National Defense Outlays for Major Public Direct Physical Capital Investment: 1940–2021 The situation calls for more radical thinking — it calls for actions directed at the root causes, not the symptoms of the imbalances, at the real culprits, not at the scapegoats. I should have named this “US Federal Budgetary Spending By Year” and will now. document.write(' 2008 - '); Table 9.9—Composition of Outlays for the Conduct of Education and Training: 1962–2021, Table 10.1—Gross Domestic Product and Deflators Used in the Historical Tables: 1940–2025, Table 11.1—Summary Comparison of Outlays for Payments for Individuals: 1940–2025 (In Current Dollars, as Percentages of Total Outlays, as Percentages of GDP, and in Constant (FY 2012) Dollars) The United States embarked in a sort of permanent war demanding a huge buildup of military expenditure : 1950 Korean war, 1964 Vietnam war, 1991 Gulf War, 1993 Bosnia war, 1999 Kosovo war, 2001 Afghanistan war, 2003 Iraq War, not to mention other military interventions in Cambodia, Grenada, Lebanon, Libya, Panama, Somalia and Yemen. To put it in a nutshell, should the underlying behaviors of the past prevail in future federal budgets, the deficit gap would deepen dramatically, leading to the piling up of debt, and the inescapable bankruptcy. That is the price citizens have to pay for their distraction. Table 9.2—Major Public Physical Capital Investment Outlays in Current and Constant (FY 2009) Dollars: 1940–2021 Table 8.6—Outlays for Mandatory and Related Programs in Constant (FY 2012) Dollars: 1962–2025 The chart describes such a scenario, showing the blue line of receipts rapidly slowing down, while the red line of outlays climbs steeply, the chasm between the two digging an abyssal deficit. Table 3.2—Outlays by Function and Subfunction: 1962–2025, Table 4.1—Outlays by Agency: 1962–2025 Table 12.2—Total Outlays for Grants to State and Local Governments, by Function and Fund Group: 1940–2025 But it delivers a sobering message. Sources: US Government Printing Office and BEA - US Bureau of Economic Analysis. It is the wrong bet. US federal budget receipts and outlays : Actual and estimates 1789-2019 | Scenario 2025 |. Table 14.4—Total Government Expenditures by Major Category of Expenditure: 1948–2019 The budget for the fiscal year 2020 was based on these pillars: the safety and security of Americans, a stronger and healthier economy, enhanced quality of life, and a commitment to a better future.Creating the national budget for the fiscal year is a process that begins with the presidential budget.The federal budget for the 2020 fiscal year was set at $4.79 trillion. World War I brought back large deficits, reaching $23.2 billion for the period 1917-1919. Your email address will not be published. This is called mandatory spending and typically uses over half of all funding. Table 8.2—Outlays by Budget Enforcement Act Category in Constant (FY 2012) Dollars: 1962–2025 The cycle of economic crises changed to high gear. Table 11.3—Outlays for Payments for Individuals by Category and Major Program: 1940–2025, Table 12.1—Summary Comparison of Total Outlays for Grants to State and Local Governments: 1940–2025 (in Current Dollars, as Percentages of Total Outlays, as Percentages of GDP, and in Constant (FY 2012) Dollars) Source adjusted by means of a composite deflator. Accordingly, income tax both individual and corporate would be enacted in 1913. The revenue/spending in this table do not include Social Security or the Post Office.
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