Chapter 34 Additional Insights

Chapter 34 Additional Insights - Additional Insights...

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Additional Insights Chapter 34 Debts and Deficits In the following worksheet you will find Table 3.2 . Table 3.2 is a table from the NIPA (national income and product accounts). The table shows the annual receipts and expenditures of the U.S. Government from 2006-2010. The table follows the accounting identity (Government purchases of goods and services (G) -Net Taxes (NT)). The second worksheet (labled GDP ) is also a NIPA table. See how the data from table 3.2 ties into the GDP table. The last worksheet labled Debt U.S. Gov shows the debt of the U.S. government as of 12- 10. Notice how important it is to consider the debt that is held by the public verus the debt which is held by the government ( yes this is correct the U.S. government owes money to itself. ....)
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Table 3.2. Federal Government Current Receipts and Expenditures [Billions of dollars] Bureau of Economic Analysis Last Revised on: June 24, 2011 - Next Release Date July 29, 2011 Line 2006 2007 2008 2009 2010 1 Current receipts 2524.5 2654.7 2503.1 2205.8 2385.2 2 Current tax receipts 1558.3 1637.6 1447.8 1142.4 1298.1 3 Personal current taxes /1/ 1049.9 1165.6 1102.8 852.7 874.6 4 Taxes on production and imports /2/ 99.4 94.5 96 94.4 106.6 5 Excise taxes 72.7 65.7 66.8 71.4 78.1 6 Customs duties 26.7 28.8 29.2 23.1 28.5 7 Taxes on corporate income 395 362.8 232.2 182.1 304.3 8 Federal Reserve banks 29.1 34.6 31.7 47.4 81.9 9 Other 366 328.2 200.5 134.6 222.3 10 Taxes from the rest of the world 14 14.7 16.8 13.2 12.6 11 904.6 945.3 972.4 953.5 986.3 12 Income receipts on assets 26.1 29.8 31.7 46.2 45.3 13 Interest receipts /3/ 18.2 22.2 21.1 22.7 25.7 14 Dividends 0.3 0.2 0.6 18.7 17 15 Rents and royalties /4/ 7.7 7.3 10 4.8 2.6 16 Current transfer receipts 38.3 44.8 55 67.9 59.8 17 From business 21.2 25.6 34.9 48.1 40 18 From persons 17.1 19.2 20 19.8 19.8 19 Current surplus of government enterprises /5/ -2.9 -2.7 -3.7 -4.2 -4.2 20 Current expenditures 2728.3 2900 3119.3 3457.5 3718.7 21 Consumption expenditures 811 848.9 934.6 987.1 1043.4 22 Current transfer payments 1587.1 1690.4 1843.7 2157.4 2328.3 23 Government social benefits 1193.1 1267.5 1402.7 1620.2 1740.5
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This note was uploaded on 12/03/2011 for the course ECON 101 taught by Professor Smith during the Fall '11 term at North Shore.

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Chapter 34 Additional Insights - Additional Insights...

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