The Federal Budget: Issues for FY2011, FY2012, and Beyond
Description:
The federal budget is central to Congress's ability to exercise its "power of the purse." Over the last several fiscal years the imbalance between spending and revenues has grown as a result of the economic downturn and policies enacted in response to financial turmoil. In FY2010, the last completed fiscal year, the U.S. government spent $3,456 billion (23.8% of GDP) and collected $2,162 billion in revenue (14.9% of GDP), resulting in a budget deficit of $1,294 billion (8.9% of GDP).
Date:
April 12, 2011
Creator:
Levit, Mindy R.
Item Type:
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Partner:
UNT Libraries Government Documents Department