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Principles of Macroeconomics Fall 2011 Day 12 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉.

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Presentation on theme: "Principles of Macroeconomics Fall 2011 Day 12 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉."— Presentation transcript:

1 Principles of Macroeconomics Fall 2011 Day 12 Dr. Andrew L. H. Parkes “A Macroeconomic Understanding for use in Business” 卜安吉

2 October 18, 2011Principles of Macroeconomics, Day 122 Government Spending 2010 Total spending Total spending –The next slide is a pie chart representing spending by category for the US budget for 2010 –Further information: Government spending Government spendingGovernment spending –The President's budget for 2010 totals $3.55 trillion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:

3 October 18, 2011Principles of Macroeconomics, Day 123

4 October 18, 2011Principles of Macroeconomics, Day 124 Government Spending 2010 Mandatory spending: $2.184 trillion (+15.6%) Mandatory spending: $2.184 trillion (+15.6%) –$677.95 billion (+4.9%) – Social Security Social SecuritySocial Security –$571 billion (−15.2%) – Other mandatory programs –$453 billion (+6.6%) – Medicare Medicare –$290 billion (+12.0%) – Medicaid Medicaid –$164 billion (+18.0%) – Interest on National Debt National DebtNational Debt –$11 billion (+ 275%) – Potential disaster costs Source: http://en.wikipedia.org/wiki/2010_United_States_federal_budgethttp://en.wikipedia.org/wiki/2010_United_States_federal_budget

5 October 18, 2011Principles of Macroeconomics, Day 125 Government Spending 2010 Discretionary spending: $1.368 trillion (+13.1%) Discretionary spending: $1.368 trillion (+13.1%) –$663.7 billion (+12.7%) – Department of Defense (including Overseas Contingency Operations) Department of DefenseOverseas Contingency OperationsDepartment of DefenseOverseas Contingency Operations –$78.7 billion (−1.7%) – Department of Health and Human Services Department of Health and Human ServicesDepartment of Health and Human Services –$72.5 billion (+2.8%) – Department of Transportation Department of TransportationDepartment of Transportation –$52.5 billion (+10.3%) – Department of Veterans Affairs Department of Veterans AffairsDepartment of Veterans Affairs –$51.7 billion (+40.9%) – Department of State and Other International Programs Department of StateDepartment of State –$47.5 billion (+18.5%) – Department of Housing and Urban Development Department of Housing and Urban DevelopmentDepartment of Housing and Urban Development –$46.7 billion (+12.8%) – Department of Education Department of EducationDepartment of Education – …. Source: http://en.wikipedia.org/wiki/2010_United_States_federal_budgethttp://en.wikipedia.org/wiki/2010_United_States_federal_budget

6 October 18, 2011Principles of Macroeconomics, Day 126 Tax Revenue Total receipts Total receipts –Estimated receipts for fiscal year 2010 are $2.381 trillion, an estimated decrease of 11% from 2009. receipts  $1.061 trillion – Individual income taxes Individual income taxesIndividual income taxes  $940 billion – Social Security and other payroll tax Social Securitypayroll taxSocial Securitypayroll tax  $222 billion – Corporation income taxes Corporation income taxesCorporation income taxes  $77 billion – Excise taxes Excise taxesExcise taxes  $23 billion – Customs duties CustomsdutiesCustomsduties  $20 billion – Estate and gift taxes Estategift taxesEstategift taxes  $22 billion – Deposits of earnings  $16 billion – Other Source: http://en.wikipedia.org/wiki/2010_United_States_federal_budgethttp://en.wikipedia.org/wiki/2010_United_States_federal_budget

7 October 18, 2011Principles of Macroeconomics, Day 127

8 October 18, 2011Principles of Macroeconomics, Day 128 Oil Prices 1990 to 2010

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