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    Director Rob Portman February 5, 2007

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    losangeles
    The document discusses the federal budget deficit and projections showing it declining to a surplus by 2012. It notes that mandatory spending, such as Social Security and Medicare, is overwhelming the rest of the federal budget and that current spending trends are unsustainable. The document also provides data on past savings from reconciliation bills that reduced the growth of mandatory spending.

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    Download as PDF, TXT or read online from Scribd

    Director Rob Portman February 5, 2007

    Uploaded by

    losangeles
    33 views8 pages
    The document discusses the federal budget deficit and projections showing it declining to a surplus by 2012. It notes that mandatory spending, such as Social Security and Medicare, is overwhelming the rest of the federal budget and that current spending trends are unsustainable. The document also provides data on past savings from reconciliation bills that reduced the growth of mandatory spending.

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    01831-02-05-07 presentation

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    The document discusses the federal budget deficit and projections showing it declining to a surplus by 2012. It notes that mandatory spending, such as Social Security and Medicare, is overwhelming the rest of the federal budget and that current spending trends are unsustainable. The document also provides data on past savings from reconciliation bills that reduced the growth of mandatory spending.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    33 views8 pages

    Director Rob Portman February 5, 2007

    Uploaded by

    losangeles
    The document discusses the federal budget deficit and projections showing it declining to a surplus by 2012. It notes that mandatory spending, such as Social Security and Medicare, is overwhelming the rest of the federal budget and that current spending trends are unsustainable. The document also provides data on past savings from reconciliation bills that reduced the growth of mandatory spending.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 8

    Director Rob Portman

    February 5, 2007

    0
    Balancing the Budget
    Deficit in billions of dollars (Deficit as a percent of GDP)
    300

    250 244 239


    1.8% 1.6%
    200 187
    1.2%
    150

    100 94
    0.6%
    54
    50
    0.3%
    0
    -61
    -0.3%
    -50

    -100
    2007 2008 2009 2010 2011 2012
    1
    Steady Economic Growth Continues
    Percentage real GDP growth, calendar year
    5
    4.4

    4 3.9 ------------- Projections --------------


    3.7
    3.4
    3.2 3.1
    3.0 3.0 3.0 2.9
    3
    2.7
    2.5

    2
    1.6

    1 0.8

    0
    1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
    3
    Receipts Return to Historical Average
    Receipts as a percent of GDP
    25

    2006
    18.4%
    20

    15
    40-Year Historical Average 18.3%

    10
    1980 1984 1988 1992 1996 2000 2004 2008 2012
    4
    Mandatory Spending is Overwhelming
    the Rest of the Budget

    1962 2006
    6% 9%
    38%
    68% 26%
    53%

    Discretionary Interest Mandatory


    6
    Current Trends Are Not Sustainable
    Percent of GDP
    40
    Mandatory Net Interest Discretionary Total Revenues
    Spending

    30

    20

    10

    0
    70

    80

    90

    00

    10

    20

    30

    40

    50

    60

    70

    80
    19

    19

    19

    20

    20

    20

    20

    20

    20

    20

    20

    20
    7
    Past Reconciliation Savings
    5-Year Mandatory Savings as a Percent of Mandatory Baseline

    3.0%
    2.8%

    2.5%

    2.0%
    2.0%
    1.7%
    1.5%
    1.1%
    1.0%

    0.5%

    0.0%
    OBRA 1990 OBRA 1993 BBA 1997 Proposed
    8

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