The Federal Budget-Part 2

This post summarizes the major plans Congress and the President are considering.

This first graph is cumulative receipts for the Federal government for the ten years ending 1999, 2009 and the estimated amount for the ten years ending 2019 under the Simpson-Bowles, the President's alternative Baseline and the Paul Ryan plan. As you can see, NONE OF THESE PLANS anticipate a reduction in federal receipts.

Federal Receipts in billions of $

This next graph shows the cumulative outlays for the Federal government for the ten years ending 1999, 2009 and the estimated amount for the ten years ending 2019 under the Simpson-Bowles, the President's alternative Baseline and the Paul Ryan plan. As you can see, NONE OF THESE PLANS anticipate a reduction in federal outlays.

Federal Outlays in billions of $

Finally, this last graph shows the cumulative deficits of the Federal government for the ten years ending 1999, 2009 and the estimated amount for the ten years ending 2019 under the Simpson-Bowles, the President's alternative Baseline and the Paul Ryan plan. As you can see, NONE OF THESE PLANS anticipate a reduction in federal deficits.

Federal Deficits in billions of $

We will reiterate our point from yesterday. All of the plans to reduce the deficit $1 trillion over the next ten years are rather puny when placed in the context of what the federal government is spending.