Deficit reduction in the United States refers to taxation, spending, and economic  policy debates and proposals designed to reduce the Federal budget deficit.  Government agencies including the Government Accountability Office (GAO),  Congressional Budget Office (CBO), the Office of Management and Budget (OMB ),and ...
If taxes will bring in more revenue than usual, how is it that we are still projecting  huge future deficits? Simple, spending is expected to rise even faster. In 2020, it  is estimated to be roughly 25 percent of GDP, roughly four percentage points  higher than historic averages, and seven points higher than it was under  President ...
During FY2016, the federal government spent $3.27 trillion on a budget or cash  basis, up $18 billion or 1% vs. FY2015 spending of $3.25 trillion. Major  categories of FY 2016 spending included: Healthcare such as Medicare and  Medicaid ($1,060B or 28% of spending),; Social Security ($910B or 24%),; Non- defense ...
Jun 28, 2010 ... Just two policies dating from the Bush Administration — tax cuts and the wars in  Iraq and Afghanistan — accounted for over $500 billion of the deficit in ... [8]  Center on Budget and Policy Priorities' analyses have found that in aggregate,  the President's proposals would reduce deficits over the 2011-2020 ...
The budget sequestration in 2013 refers to the automatic spending cuts to United  States federal government spending in particular categories of outlays that were  initially set to begin on January 1, 2013, as an austerity fiscal policy as a result of  Budget Control Act of 2011 (BCA), and were postponed by two months by the ...
President Obama's proposed 'spending freeze' will only reduce the $42 trillion in government spending proposed between 2011 and 2020 by little more than one-half of 1 percent.