The Economics of the Federal Budget Deficit

Description

In FY1998, federal budget receipts exceeded outlays for the first time since 1969. Those surpluses continued through FY2001. At one time, those surpluses had been projected to continue, but conditions have since changed. The economy went into recession in 2001, and a stimulus package was enacted. Since then, the budget has been in deficit. The actual unified budget deficit for FY2004 was $412.1 billion. In January 2005, the Congressional Budget Office projected that there would be a budget deficit of $368 billion in FY2005, and a deficit of $295 billion in FY2006.

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15 pages.

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Cashell, Brian W. March 31, 2005.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 24 times . More information about this report can be viewed below.

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Description

In FY1998, federal budget receipts exceeded outlays for the first time since 1969. Those surpluses continued through FY2001. At one time, those surpluses had been projected to continue, but conditions have since changed. The economy went into recession in 2001, and a stimulus package was enacted. Since then, the budget has been in deficit. The actual unified budget deficit for FY2004 was $412.1 billion. In January 2005, the Congressional Budget Office projected that there would be a budget deficit of $368 billion in FY2005, and a deficit of $295 billion in FY2006.

Physical Description

15 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • March 31, 2005

Added to The UNT Digital Library

  • Sept. 27, 2005, 1:23 p.m.

Description Last Updated

  • Feb. 16, 2017, 2:06 p.m.

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Cashell, Brian W. The Economics of the Federal Budget Deficit, report, March 31, 2005; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs7264/: accessed October 21, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.