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Federal Deficits, Surpluses, and the National Debt C HAPTER 23.

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Presentation on theme: "Federal Deficits, Surpluses, and the National Debt C HAPTER 23."— Presentation transcript:

1 Federal Deficits, Surpluses, and the National Debt C HAPTER 23

2 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 2 EXHIBIT 1 M AJOR S TEPS IN THE F EDERAL B UDGETARY P ROCESS

3 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 3 EXHIBIT 2 U.S. F EDERAL B UDGET E XPENDITURES, R EVENUES, AND B UDGET S URPLUSES OR D EFICITS, 1960–2003 Source: Economic Report of the President, 2004, http://www.access.gpo/eop/index.html, Table B-78.

4 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 4 EXHIBIT 2 U.S. F EDERAL B UDGET E XPENDITURES, R EVENUES, AND B UDGET S URPLUSES OR D EFICITS, 1960–2003 (Continued) Source: Economic Report of the President, 2004, http://www.access.gpo/eop/index.html, Table B-78.

5 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 5 EXHIBIT 3 F EDERAL E XPENDITURES, R EVENUES, AND D EFICITS AS A P ERCENTAGE OF GDP, 1985–2003 Source: Economic Report of the President, 2004, http://www.gpoaccess.eop/index.html, Table B-79.

6 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 6 EXHIBIT 4 T HE N ATIONAL D EBT, 1930–2003 Source: Economic Report of the President, 2004, http://www.access.gpo/eop/index.html, Tables B-78, and B-79.

7 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 7 EXHIBIT 4 T HE N ATIONAL D EBT, 1930–2003 (Continued) Source: Economic Report of the President, 2004, http://www.access.gpo/eop/index.html, Tables B-78, and B-79.

8 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 8 EXHIBIT 5 A N I NTERNATIONAL C OMPARISON OF N ATIONAL D EBT R ATIOS, 2003 Source: OECD Economic Outlook N. 74, December 2003, http://www.oecd.org/home/htm, Annex Table 16.

9 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 9 EXHIBIT 6 F EDERAL N ET I NTEREST AS A P ERCENTAGE OF GDP, 1940–2003 Source: Economic Report of the President, 2004, http://www.access.gpo/eop/index.html, Tables B-1 and B-80.

10 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 10 EXHIBIT 7 O WNERSHIP OF THE N ATIONAL D EBT, 2003 Source: Economic Report of the President, 2004, http://www.access.gpo/eop/index.html, Table B-89.

11 Tucker Economics for Today, 4e Ch 23 Federal Deficits, Surpluses, and the National Debt © 2005 Thomson/South-Western 11 EXHIBIT 8 Z ERO, P ARTIAL, AND C OMPLETE C ROWDING O UT

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