Budget Briefs

Budget Briefs


Glossary for the Federal Budget
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Charts

Charts

General

Spending by Category

Discretionary Spending

Total Spending

Revenues

Military

Deficits and Debt


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Deficits and surpluses, 1940-2008 in $2007

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National Defense Spending, 1940-2008

The following table shows spending in 2007 dollars (i.e. controlled for inflation) of national defense spending since 1940. National defense is a category of spending defined by the government.

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Federal Debt, 1940-2008 (As a Percentage of the GDP)

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Federal Deficits and Surpluses, 1930 - 2008 (As a Percentage of GDP)

A deficit is when the outlays exceed revenues and a surplus is when revenues exceed outlays.

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Federal Debt, 1940-2008 (in $2007)

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Federal Deficit, Surplus, and National Debt

Do they matter?

With a national debt of about $8 trillion, it is clear why this issue has assumed such political and economic significance.

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