The Federal Budget (2)

The Federal Budget (2) - The Federal Budget Federal Budget...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The Federal Budget Federal Budget Deficits o annual figure; spend more than you bring in o run deficits when you go to war b/c you are borrowing money needed to win o when economy goes into succession or depression (when economy performs badly) o we have routinely run deficits since the 1960s o 1789-1960s: we had surpluses Federal Debt o Good reasons: investment purposes ( borrow money to enhance productivity: borrow money for tuition fees) o Bad reasons: consumption (ex. Spring break trip) o Federal government is deeply In debt; however fed gov is seen as safest place to loan money Federal debt interest payments o In fiscal year 2007 ($364,921,000), interest payments alone totaled as much as the budgets of the departments of: commerce, education, energy, homeland security, housing and urban development, interior, justice, labor, state, transportation PLUS the operating expenses of Congress, the executive office of the Pres, and the federal judicial branch combined! Federal Gov Revenue Sources, 2010
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/14/2011 for the course POL SCI 1100 taught by Professor Overby during the Spring '08 term at Missouri (Mizzou).

Page1 / 3

The Federal Budget (2) - The Federal Budget Federal Budget...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online