Graph of the Day for July 10, 2010

Randall Hoven
"Now, many of these plans will cost money, which is why I've laid out how I'll pay for every dime: by closing corporate loopholes and tax havens that don't help America grow.

But I will also go through the federal budget line by line, eliminating programs that no longer work and making the ones we do need work better and cost less, because we cannot meet 21st-century challenges with a 20th-century bureaucracy.  (APPLAUSE)"  Barack Obama, acceptance speech at the Democratic National Convention, 2008.


Recent Federal Deficits (by Fiscal Year quarters)


Source:  Congressional Budget Office.  (The Fiscal Year starts in October.)


Hoven's Index for July 10, 2010


Federal deficit for first 9 months of FY 2010:  $1 trillion

Changes from 2009 to 2010, through June:

Revenue from individual income taxes:  -4.4%

Revenue from social insurance taxes:  -3.9%

Revenue from corporate taxes:  +30.6%

Outlays on unemployment benefits:  +48.9%

Outlays for Medicaid:  +8.9%

Outlays for Social Security:  +6.0%

Outlays for Defense-Military:  +5.8%

Outlays for Medicare:  +4.3%

Outlays for all other activities:  +9.1%

Source:  Congressional Budget Office.


Graph of the Day Archive.

"Now, many of these plans will cost money, which is why I've laid out how I'll pay for every dime: by closing corporate loopholes and tax havens that don't help America grow.

But I will also go through the federal budget line by line, eliminating programs that no longer work and making the ones we do need work better and cost less, because we cannot meet 21st-century challenges with a 20th-century bureaucracy.  (APPLAUSE)"  Barack Obama, acceptance speech at the Democratic National Convention, 2008.


Recent Federal Deficits (by Fiscal Year quarters)


Source:  Congressional Budget Office.  (The Fiscal Year starts in October.)


Hoven's Index for July 10, 2010


Federal deficit for first 9 months of FY 2010:  $1 trillion

Changes from 2009 to 2010, through June:

Revenue from individual income taxes:  -4.4%

Revenue from social insurance taxes:  -3.9%

Revenue from corporate taxes:  +30.6%

Outlays on unemployment benefits:  +48.9%

Outlays for Medicaid:  +8.9%

Outlays for Social Security:  +6.0%

Outlays for Defense-Military:  +5.8%

Outlays for Medicare:  +4.3%

Outlays for all other activities:  +9.1%

Source:  Congressional Budget Office.


Graph of the Day Archive.