Obama’s Budget Would Deepen Already Unprecedented Deficits
Everyone wants to know more about the budget and here is some key information with a chart from the Heritage Foundation and a video from the Cato Institute.
The President is responsible for submitting an annual budget to Congress and has the authority to veto legislation, including irresponsible spending. Most Administrations have run small but manageable deficits, but President Obama’s unprecedented budget deficits pose serious economic risks.
BUDGET DEFICITS AS A PERCENTAGE OF GDP, BY ADMINISTRATION
Chart 24 of 42
Obama’s Budget Worsens Debt Problem, but The Heritage Plan Solves It
Federal Budget Deficits Will Reach Levels Never Seen Before in the U.S.In Depth
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Policy Papers for Researchers
- WEBMEMO ON FEBRUARY 14, 2011President Obama’s 2012 Budget Builds on Failures of the Past
- WEBMEMO ON APRIL 26, 2011Ten Economic Lessons from Europe for the U.S. President
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Technical Notes
The charts in this book are based primarily on data available as of March 2011 from the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO). The charts using OMB data display the historical growth of the federal government to 2010 while the charts using CBO data display both historical and projected growth from as early as 1940 to 2084. Projections based on OMB data are taken from the White House Fiscal Year 2012 budget. The charts provide data on an annual basis except… Read More
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Authors
Emily GoffResearch Assistant
Thomas A. Roe Institute for Economic Policy StudiesKathryn NixPolicy Analyst
Center for Health Policy StudiesJohn FlemingSenior Data Graphics Editor
