Federal Budget

Federal Budget

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Over the last several fiscal years the imbalance between U.S. govAit. spending and revenues has grown as a result of the economic downturn and policies enacted in response to financial turmoil. In FY 2010, the U.S. government spent $3, 456 billion and collected $2, 162 billion in revenue, resulting in a budget deficit of $1, 294 billion. Contents of this report: (1) Overview: Budget Cycle; Budget Baseline Projections; Spending and Revenue Trends; Deficits, Debt, and Interest; (2) Budgeting in Tough Economic Times: Fed. Response to Economic and Financial Market Turmoil; Budget Deficit Estimates for FY 2011; Budget for FY 2012; (3) Considerations for Congress: Short-and Long-Term Considerations. Illustrations. This is a print on demand report.On the spending side, the FY2012 budget largely focused on a proposal to freeze non-security discretionary spending through ... various tax proposals including the permanent extension of the 2001/2003/2010 tax cuts for families making less than $250, 000, changes in the ... The President also proposes a fee on the financial services industry over at least the next 10 years to recoup the cost of TARP.

Title:Federal Budget
Author: Mindy R. Levit
Publisher:DIANE Publishing - 2011-08

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