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The Impact of Major Legislation on Budget Deficits: 2001 to 2009

Description: This report examines to what extent major legislative changes from 2001 to 2009 caused the budget to move from surplus to deficit. Legislative actions taken in 2009 increased the FY2009 deficit by $509 billion, whereas legislative actions taken between 2001 and 2008 increased the FY2009 deficit by $903 billion. Furthermore, legislative changes have cumulatively increased federal budget deficits over FY2001 to FY2009 by $5.4 trillion.
Date: March 23, 2010
Creator: Labonte, Marc & Hanna, Andrew