Federal Spending – Fast Facts

All fast facts for federal spending are from the non-partisan Congressional Budget Office (CBO), the National Commission on Fiscal Responsibility and Reform, and the Office of Management and Budget (OMB). Although they represent many of their most recent reports on this subject, they do not represent all of their reports on this subject. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement.   As always, verify and view statements in their full context as often as possible.

Under the President’s budgetary proposals, outlays would be greater than in CBO’s baseline in each of the next 10 years, primarily because the proposed reduction in revenues would boost deficits and thus the costs of paying interest on the additional debt that would accumulate.  In particular, net interest payments would nearly quadruple in nominal dollars (without an adjustment for inflation) over the 2012–2021 period and would increase from 1.7 percent of GDP to 3.9 percent.  If enacted, those policies would reduce revenues by $2.3 trillion during the 2012-2021 period relative to amounts in the CBO’s baseline.  Verify at Page 4
Some CBO Analyses of prior President’s budgetary proposals:
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