01490-2008 Msr Charts
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July 11, 2007
Balancing the Budget Deficit in billions of dollars Deficit as a percent of GDP
4.0% 413 3.6%
Actuals Projections
3.0% 318 2.6% 248 1.9%
2.0%
205 1.5%
258 1.8%
213 1.4%
1.0%
40-Year Average 2.4% 123 0.8%
89 0.5%
0.0%
-0.2% -33
-1.0% 2004
2005
2006
2007
2008
2009
2010
2011
2012 1
Budget Deficit Since 1940 Deficit/Surplus as a percent of GDP
10 Sept. 11th
0 Tax Relief Fully Implemented
-10 40-Year Average = -2.4%
2007
2007 Projection = -1.5%
-20
-30 World War II
-40 1940
1950
1960
1970
1980
1990
2000
2010 2
Solid Economy = Growing Receipts Percent change in receipts 20 Projections
15 10
5
0
-5 -10 1982
1986
1990
Note: Shaded areas indicate recessions.
1994
1998
2002
2006
2010 3
Receipts as a Percent of GDP Percent of GDP 25
MSR Forecast 20
2007 Forecast 18.8%
40-Year Historical Average 18.3%
15
10 1980
1984
1988
1992
1996
2000
2004
2008
2012 4
President's Budget vs. Congress' Budget Non-Defense Discretionary Spending Budget authority in billions
500
480
President's Budget
Congress' Budget
Congress wants to spend $205 billion more than the President's Budget.
460
440
420
400 2007 Enacted
2008
2009
2010
2011
2012 5
Mandatory Spending is Overwhelming the Rest of the Budget 1962
2007 6%
68%
39%
8%
26% 53%
Discretionary
Interest
Mandatory 6
Unsustainable Growth in Entitlements Percent of GDP
40 Entitlements Net Interest
Discretionary Spending Total Revenues
30
20
10
0 1970
1980
1990
2000
2010
2020
2030
2040
2050
2060
2070
2080 7
Balancing the Budget Deficit in billions of dollars Deficit as a percent of GDP
4.0% 413 3.6%
Actuals Projections
3.0% 318 2.6% 248 1.9%
2.0%
205 1.5%
258 1.8%
213 1.4%
1.0%
40-Year Average 2.4% 123 0.8%
89 0.5%
0.0%
-0.2% -33
-1.0% 2004
2005
2006
2007
2008
2009
2010
2011
2012 1
Budget Deficit Since 1940 Deficit/Surplus as a percent of GDP
10 Sept. 11th
0 Tax Relief Fully Implemented
-10 40-Year Average = -2.4%
2007
2007 Projection = -1.5%
-20
-30 World War II
-40 1940
1950
1960
1970
1980
1990
2000
2010 2
Solid Economy = Growing Receipts Percent change in receipts 20 Projections
15 10
5
0
-5 -10 1982
1986
1990
Note: Shaded areas indicate recessions.
1994
1998
2002
2006
2010 3
Receipts as a Percent of GDP Percent of GDP 25
MSR Forecast 20
2007 Forecast 18.8%
40-Year Historical Average 18.3%
15
10 1980
1984
1988
1992
1996
2000
2004
2008
2012 4
President's Budget vs. Congress' Budget Non-Defense Discretionary Spending Budget authority in billions
500
480
President's Budget
Congress' Budget
Congress wants to spend $205 billion more than the President's Budget.
460
440
420
400 2007 Enacted
2008
2009
2010
2011
2012 5
Mandatory Spending is Overwhelming the Rest of the Budget 1962
2007 6%
68%
39%
8%
26% 53%
Discretionary
Interest
Mandatory 6
Unsustainable Growth in Entitlements Percent of GDP
40 Entitlements Net Interest
Discretionary Spending Total Revenues
30
20
10
0 1970
1980
1990
2000
2010
2020
2030
2040
2050
2060
2070
2080 7
