Congressional Budget Office FY 2011 Outlay Projection: $3.899 Trillion

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2 Federal retirement, unemployment insurance, veterans, other social/health $726 B - 18% (FY 2008: $324 B - 11 %) Congressional Budget Office FY 2011 Outlay Projection: $3.899 Trillion Mandatory Net Interest $225 B - 6% Discretionary Defense $712 B - 18% Medicaid $274 B - 7% Medicare $572 B - 15% Social Security $727 B - 19% Non-Defense $663 B - 17% Mandatory: 59% Discretionary: 35% Interest: 6%

3 Corporate Income Taxes $201 B - 9% Congressional Budget Office FY 2011 Revenue Projection: $2.229 Trillion Estate & Excise Taxes, Customs, and Other Receipts $211 B 9% Social Insurance Taxes $819 B - 37% Individual Income Tax $998 B - 45%

4 Congressional Budget Office FY 2011 Budget and Deficit In Billions of Dollars Net Interest $225 Unemployment, tax credits, veterans, other programs $726 Medicaid $274 Medicare $572 Spending $3.899 Trillion Social Security $727 Non-Defense $663 Deficit Estimates: $1.267 Trillion (Old) $1.670 Trillion (New) Customs and Estate Taxes $40 Excise Tax $73 Other Taxes $98 Corporate Income Taxes $201 Social Insurance Taxes $819 Revenue $2.229 Trillion 500 Defense $712 Individual Income Tax $998 0 Projected Spending Projected Revenue

5 4000 President s FY 2012 Budget and Deficit In Billions of Dollars Net Interest $242 Unemployment, tax credits, veterans, other programs $631 Medicaid $261 Medicare $485 Spending $3.729 Trillion Social Security $761 Non-Defense $456 Customs and Estate Taxes $40 Other Taxes $88 Excise Tax $103 Corporate Income Taxes $329 Deficit Estimate: $1.102 Trillion (Old) Social Insurance Taxes $925 Revenue $2.627 Trillion 500 Defense $884 Individual Income Tax $ Projected Spending Projected Revenue

6 U.S. Government Spending by Function Category FY 2008 FY 2010 Increase Welfare $260 B $400 B 54% Domestic $485 B $682 B 41% Medicare $456 B $528 B 16% Social Security $612 B $700 B 14% Defense $612 B $690 B 11%

7 Spending from FY FY2011 (estimate) Billions of Dollars $1.91 Trillion increase in spending from FY2000-FY % 4.13% Increase from FY 2000-FY % 6.16% 7.81% 7.41% 2.77% 9.30% 28.54% increase from FY2008-FY % -1.76% 7.30% 0 Fiscal Year

8 Billions : $380 Billion 1980: $829 Billion National Debt, Source: Office of Management and Budget 1990: $2.876 Trillion 2015 Projection: $ Trillion Current: $ Trillion 2000: $5.605 Trillion Projected

9 Tsunami of Debt National Debt as a Percentage of U.S. Economy 900% 800% 700% 600% CURRENT POLICY 500% 400% 300% 200% HISTORICAL TREND 100% 0% Source: Congressional Budget Office (CBO)

10 Source: U.S. Treasury Department Who Owns the U.S. Debt? Current U.S. Debt: $ 14,307,799,341,563 Debt as of 5/12/2011 Foreign and International 30% Federal Reserve & Intragovernmental 41% Private Investors 28%

11 Foreign Ownership of Public Debt 50% 45% 40% 35% 30% 25% $8.4 TRILLION 20% 15% 10% $2.4 TRILLION 5% 0% $283 BILLION Source: U.S. Department of Treasury

12 Top Five Foreign Owners of U.S. Treasury Securities (1) China : $1,160.1 Billion (2) Japan : $882.3 Billion (3) United Kingdom : $272.1 Billion (4) Oil Exporters : $211.9 Billion (5) Brazil : $186.1 Billion *"Oil Exporters" include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria. Source: U.S. Department of Treasury

13 Twenty Years of Spending Growth FY 1990 FY 2000 FY 2011 Spending $1.25 Trillion $1.79 Trillion $3.899 Trillion Deficit or Surplus $221 Billion Deficit $236 Billion Surplus* $1670 Billion Deficit Debt Debt Per Capita $3.23 Trillion $5.67 Trillion $ Trillion $12,987 $20,148 $46,151 *Deficit in 2005 was $318 Billion

14 American Citizen Everytown, USA May 2011 Date:_February 2011_ Pay to the The United States Government 46,151 order of $ 45,413 Forty-five Six thousand, Thousand four hundred One Hundred and thirteen Fifty One Dollars MEMO:

15 -Pushing taxes onto our children -Selling the nation's assets overseas -Creating inflation -Higher taxes -Higher interest rates -Lower economic expectations

16 -Balanced budget amendment -Line-item veto -Biennial budgeting cycle

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