REVENUES, OUTLAYS, AND DEFICITS (-) OR SURPLUSES
(in Billions of Dollars) Total, Total,
Actual 2006- 2006-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2010 2015
----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Revenues 1880 2057 2212 2357 2508 2662 2806 3062 3303 3474 3657 3847 12545 29888
Outlays 2292 2425 2507 2618 2743 2869 2996 3142 3232 3389 3542 3706 13733 30743
----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Deficit(-) -412 -368 -295 -261 -235 -207 -189 -80 71 85 115 141 -1188 -855
On-budget -567 -541 -484 -471 -464 -454 -451 -357 -217 -212 -190 -169 -2324 -3469
Off-budget 155 173 190 210 229 246 262 277 289 298 305 310 1136 2614
Extend Expiring Tax Provisions
0 0 -5 -17 -32 -49 -53 -207 -324 -355 -388 -424 -156 -1854
Reform the Alternative Minimum Tax
0 0 -12 -35 -44 -56 -69 -62 -42 -50 -60 -70 -218 -503
Iraq, Afghanistan, and Global War on Terrorism
0 -30 -73 -82 -76 -59 -47 -44 -48 -51 -54 -57 -336 -590
DEFICITS UNDER SELECTED POLICY ALTERNATIVES
(in Billions of Dollars) Total, Total,
Actual 2006- 2006-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2010 2015
----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ------ ------
Baseline Deficit(-) or Surplus
-412 -368 -295 -261 -235 -207 -189 -80 71 85 115 141 -1188 -855
plus Extend Expiring Tax Provisions
-412 -368 -300 -278 -267 -256 -242 -287 -253 -270 -273 -283 -1344 -2709
plus Reform the Alternative Minimum Tax
-412 -368 -312 -313 -311 -312 -311 -349 -295 -320 -333 -353 -1562 -3212
plus Iraq, Afghanistan, and Global War on Terrorism
-412 -398 -385 -395 -387 -371 -358 -393 -343 -371 -387 -410 -1898 -3802
minus Off-budget surplus
-567 -571 -575 -605 -616 -617 -620 -670 -632 -669 -692 -720 -3034 -6416
-------------------------------------------------------------------------------------
DEBTS UNDER SELECTED POLICY ALTERNATIVES
(in Billions of Dollars)
Actual
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
Debt Held by the Public
4296 4665 4971 5246 5494 5716 5919 6012 5955 5884 5784 5658
Gross Federal Debt
7355 7975 8565 9146 9726 10304 10884 11373 11731 12094 12434 12755
plus Extend Expiring Tax Provisions
7355 7975 8570 9168 9780 10407 11040 11736 12418 13136 13864 14609
plus Reform the Alternative Minimum Tax
7355 7975 8582 9215 9872 10555 11258 12016 12740 13508 14296 15112
plus Iraq, Afghanistan, and Global War on Terrorism
7355 8005 8685 9400 10133 10875 11624 12426 13198 14017 14859 15732
Gross Domestic Product
11553 12233 12888 13586 14307 15029 15757 16494 17245 18023 18826 19652
DEBTS UNDER SELECTED POLICY ALTERNATIVES
(as Percentage of GDP)
Actual
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
Debt Held by the Public
37.2 38.1 38.6 38.6 38.4 38.0 37.6 36.4 34.5 32.6 30.7 28.8
Gross Federal Debt
63.7 65.2 66.5 67.3 68.0 68.6 69.1 69.0 68.0 67.1 66.0 64.9
plus Extend Expiring Tax Provisions
63.7 65.2 66.5 67.5 68.4 69.2 70.1 71.2 72.0 72.9 73.6 74.3
plus Reform the Alternative Minimum Tax
63.7 65.2 66.6 67.8 69.0 70.2 71.4 72.9 73.9 74.9 75.9 76.9
plus Iraq, Afghanistan, and Global War on Terrorism
63.7 65.4 67.4 69.2 70.8 72.4 73.8 75.3 76.5 77.8 78.9 80.1
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Source: The Budget and Economic Outlook: Fiscal Years 2006 to 2015,
Tables 1-2, 1-3, and 1-5, Congressional Budget Office, online at
http://www.cbo.gov/ftpdocs/60xx/doc6060/01-25-BudgetOutlook.pdf
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