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169
SUMMARY TABLES
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THE BUDGET FOR FISCAL YEAR 2012 171
Tab
leS1.BudgetTotals
(InbillionsodollarsandasapercentoGDP)
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Totals
2012-
2016
2012-
2021
BudgetTotalsinBillionsoDollars:
Receipts
2,163
2,174
2,627
3,003
3,333
3,583
3,819
4,042
4,257
4,473
4,686
4,923
16,366
38,747
Outlays
3,456
3,819
3,729
3,771
3,977
4,190
4,468
4,669
4,876
5,154
5,422
5,697
20,134
45,952
Decit
1,293
1,645
1,101
768
645
607
649
627
619
681
735
774
3,769
7,205
Debtheldbythepublic
9,019
10,856
11,881
12,784
13,562
14,301
15,064
15,795
16,513
17,284
18,103
18,967
Debtnetonancialassets
7,894
9,505
10,585
11,344
11,988
12,595
13,243
13,869
14,488
15,169
15,903
16,677
Grossdomesticproduct(GDP)
14,508
15,080
15,813
16,752
17,782
18,804
19,791
20,755
21,679
22,624
23,608
24,633
BudgetTotalsasaPercent
oGDP:
Receipts
149%
144%
16
6%
179%
187%
191%
193%
195%
196%
198%
199%
200%
183%
190%
Outlays
238%
253%
23
6%
225%
224%
223%
226%
225%
225%
228%
230%
231%
227%
227%
Decit
89%
109%
70%
46%
36%
32%
33%
30%
29%
30%
31%
31
%
43%
37%
Debtheldbythepublic
622%
720%
75
1%
763%
763%
761%
761%
761%
762%
764%
767%
770%
Debtnetonancialassets
544%
630%
66
9%
677%
674%
670%
669%
668%
668%
670%
674%
677%
Memorandum,budgettota
lswithAMT
relieullypaidor:
Inbillionsodollars:
Decit
1,293
1,645
1,101
768
645
579
475
452
415
445
463
464
Debtheldbythepublic
9,019
10,856
11,881
12,784
13,562
14,274
14,862
15,419
15,932
16,467
17,015
17,568
Debtnetonancialas
sets
7,894
9,505
10,585
11,344
11,988
12,567
13,041
13,493
13,907
14,352
14,815
15,278
AsapercentoGDP:
Decit
89%
109%
7
0%
46%
36%
31%
24%
22%
19%
20%
20%
19%
Debtheldbythepublic
622%
720%
75
1%
763%
763%
759%
751%
743%
735%
728%
721%
713%
Debtnetonancialas
sets
544%
630%
66
9%
677%
674%
668%
659%
650%
642%
634%
628%
620%
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THE BUDGET FOR FISCAL YEAR 2012 173
Ta
bleS2.EectoBudge
tProposalsonProjected
DecitsContinued
(Decitincreases(+)ordecreases()inbillionsodollars)
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Totals
2012-
2016
2012-
2021
Memorandum,costsavoidedbyallowingupper-
incometaxcutstoexpire:
Additionalcostoextendingthe2001and2003tax
cutsorhigh-incometaxp
ayers
6
35
53
63
73
82
89
96
102
10
9
230
709
Additionalcostoextendingthecurrentestatetax
cut
*
*
1
8
9
10
12
13
14
15
1
6
28
98
Debtservice
*
1
3
6
10
14
19
25
31
3
8
19
147
Total,costsavoidedbyallowingupper-income
taxcutstoexpire
*
6
36
64
78
94
108
121
134
149
16
3
278
953
Memorandum,budgetauth
oritysavingsrom
DepartmentoDeense(DOD)request:
SavingsversusDOD2011F
utureYearsDeense
Plan
13
11
11
18
24
n/a
n/a
n/a
n/a
n/a
78
n/a
*$500millionorless
1SeetablesS-3andS-7orinormationontheadjustedbaseline
2Includestheeectsocontinuingcertainexpiringprovisionsthroughcalendaryear2012
3Includesincentivestoprom
oteregionalgrowth,tradeinitiativesand
othertaxinitiativesonTableS-8
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THE BUDGET FOR FISCAL YEAR 2012 175
TableS3.Adjust
edBaselinebyCategoryContinued
(Inbillionsodollars)
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Totals
2012
2016
2012
2021
On-budgetdecit
1,370
1,653
1,168
928
859
934
1,044
995
997
1,063
1,133
1,19
5
4,934
10,316
O-budgetsurplus()
77
56
77
82
89
93
106
105
107
103
88
7
8
447
928
Memorandum,budgetauth
orityorappropriated
programs:
Security
856
848
864
882
901
921
941
963
985
1,008
1,032
1,05
6
4,510
9,554
Non-security
402
382
424
425
435
444
454
465
476
488
500
51
3
2,183
4,625
Total,appropriatedun
ding
1,258
1,231
1,287
1,307
1,337
1,366
1,396
1,428
1,461
1,496
1,532
1,56
9
6,693
14,179
*$500millionorless
1SeeTableS7orinormat
iononadjustmentstotheBudgetEnorce
mentAct(BEA)baseline
2OutlaysorTARPin2011andsubsequentyearsresultromobligationsincurredthroughOctober3,2010or
theHomeAordableModication
3TheseamountsrepresentaplaceholderormajordisastersrequiringFederalassistanceorrelieandreconst
ructionSuchassistancemightbeprovidedintheormo
discretionaryormandato
ryoutlaysortaxrelieTheseamountsareincludedasoutlaysorconvenience
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THE BUDGET FOR FISCAL YEAR 2012 177
TableS4.Propo
sedBudgetbyCategoryContinued
(Inbillionsodollars)
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Totals
2012-
2016
2012-
2021
On-budgetdecit
1,3701
,703
1,177
848
730
697
753
729
723
784
823
852
4,205
8,115
O-budgetsurplus()
77
58
76
81
86
90
104
102
104
102
87
78
437
910
Memorandum,budgetauth
orityorappropriated
programs:
Security
856
879
846
791
811
828
846
861
878
894
911
929
4,122
8,595
Non-security
402
401
397
397
397
397
406
415
427
438
454
457
1,993
4,182
Total,appropriatedun
ding
1,2581
,280
1,243
1,188
1,208
1,2251
,252
1,276
1,304
1,332
1,3651,385
6,115
12,777
*$500millionorless
1OutlaysorTARPin2011andsubsequentyearsresultromobligati
onsincurredthroughOctober3,2010ortheHomeAordableModicationProgramandotherTARP
programs
2Theseamountsrepresenta
placeholderormajordisastersrequiringFederalassistanceorrelieandreconstructionSuchassistancemightbeprovidedintheormo
discretionaryormandatoryoutlaysortaxrelieTheseamountsareincludedasoutlaysorconvenience
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THE BUDGET FOR FISCAL YEAR 2012 179
Tab
leS5.ProposedBudge
tbyCategoryasaPercentoGDPContinued
(AsapercentoGDP)
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Averages
2012-
2016
2012-
2021
On-budgetdecit
94
113
74
51
41
37
38
35
33
35
35
35
48
41
O-budgetsurplus()
05
04
05
05
05
05
05
05
05
05
04
03
05
05
Memorandum,budgetauth
orityor
appropriatedprograms:
Security
59
58
53
47
46
44
43
41
40
40
39
38
47
43
Non-security
28
27
25
24
22
21
21
20
20
19
19
19
23
21
Subtotal,appropriated
programs
87
85
79
71
68
65
63
61
60
59
58
56
69
64
*005percentoGDPorless
1OutlaysorTARPin2011andsubsequentyearsresultromobligati
onsincurredthroughOctober3,2010ortheHomeAordableModicationProgramandotherTARP
programs
2Theseamountsrepresenta
placeholderormajordisastersrequiringFederalassistanceorrelieandreconstructionSuchassistancemightbeprovidedintheormo
discretionaryormandatoryoutlaysortaxrelieTheseamountsareincludedasoutlaysorconvenience
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THE BUDGET FOR FISCAL YEAR 2012 181
TableS6.ProposedBudgetinPo
pulation-andInfation-A
djustedDollarsContin
ued
(Inbillionsoconstantdollars,adjustedorpopulationgro
wth)
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
On-budgetdecit
1,177
824
689
639
669
629
605
6
36
648
651
O-budgetsurplus()
76
78
81
83
93
88
87
83
69
60
Memorandum,budgetauth
orityorappropriatedprograms:
Security
846
769
766
759
752
743
735
7
26
718
710
Non-security
397
385
374
363
361
358
357
3
55
357
349
Subtotal,appropriated
programs
1,243
1,154
1,140
1,122
1,113
1,101
1,092
1,0
81
1,075
1,059
Memorandum,indexopopulationgrowthandinfation................................
100
103
106
109
112
116
119
123
127
131
*$500millionorless
1OutlaysorTARPin2011andsubsequentyearsresultromobligati
onsincurredthroughOctober3,2010ortheHomeAordableModicationProgramandotherTARP
programs
2Theseamountsrepresenta
placeholderormajordisastersrequiringFederalassistanceorrelieandreconstructionSuchassistancemightbeprovidedintheormo
discretionaryormandatoryoutlaysortaxrelieTheseamountsareincludedasoutlaysorconvenience
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182 SUMMARY TABLES
TableS7.BridgeFromBudgetEnorcementAct
BaselinetoAdjustedBaseline
(Decitincreases(+)ordecreases()inbillionsodollars)
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Totals
2012
2016
2012
2021
BEAbaselinedecit...................................................
1,293
1,593
1,036
643
463
496
552
460
417
438
472
488
3,189
5,465
Adjustmentstobaseline:
Indextoinfationthe2011parametersotheAMT
33
106
106
124
142
162
183
206
230
256
512
1,550
Continuethe2001and2003taxcutsormiddle-
incometaxpayers
1
69
142
144
146
148
149
150
151
152
501
1,250
Extendestate,git,andgen
eration-skipping
transertaxesat2009pa
rameters
1
2
5
24
26
29
32
35
37
39
42
86
270
RefectincrementalcostoundingexistingPell
maximumgrantaward
12
12
12
12
12
12
12
12
12
12
58
118
Subtotal
1
48
192
284
306
329
354
378
405
432
461
1,159
3,189
Adjustmenttorefectcosts
opossible
emergencies1...........................................................
2
6
8
8
9
10
10
10
10
10
10
42
92
Reclassiysuracetransportationoutlays:
Removeoutlaysromappro
priatedcategory
41
47
54
51
60
61
62
64
67
68
70
70
287
627
Addoutlaystomandatoryc
ategory
41
47
54
51
60
61
62
64
67
68
70
70
287
627
Subtotal
Totalprogramadjustments
4
54
200
292
315
339
364
388
415
442
471
1,200
3,280
Debtserviceonadjustment
s
*
*
4
15
30
47
66
85
107
131
157
97
642
Totaladjustments
4
54
204
307
345
386
429
474
522
573
628
1,297
3,923
Adjustedbaselinedecit..........................................
1,293
1,597
1,090
846
770
841
938
890
891
960
1,045
1,116
4,486
9,387
*$500millionorless
1Theseamountsrepresenta
placeholderormajordisastersrequiring
FederalassistanceorrelieandreconstructionSuchassistancemightbeprovide
dintheormo
discretionaryormandatoryoutlaysortaxrelieTheseamountsareincludedasoutlaysorconvenience
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THE BUDGET FOR FISCAL YEAR 2012 197
S9.Brid
geBetweenTotalManda
toryandReceiptProposalsandPAYGOScorekeeping
(Inbillionsodollars)
20112016
20112021
Grandtotal,mandatoryandreceiptproposalsromTab
leS8...................................................................................................
169
525
AdjustmentsorPAY
GOscorekeeping:
RemovenetsavingsnotcountedorPAYGOpurposes:
Transportatio
nTrustFund
58
93
Programintegritysavingsgeneratedbyincreaseddiscr
etionaryunding,andothernon-PAYGOeects
32
123
Total,netsavingsnotcountedorPAYGOpurposes
90
215
AdjustorphysicianpaymentrelieexemptromstatutoryPAYGOthrough2014
82
82
Devotesavingsro
mreducingthevalueocertaintaxexpen
diturestopayorthreeyearsoAMTrelie
114
321
Total,adjustm
entsorPAYGOscorekeeping
122
454
Totalsavingsrom
mandatoryandreceiptproposalsun
derPAYGOscorekeeping...............................................................
46
71
Memorandum,PAY
GOcostsincludedinadjustedbaseline:
ExtendAMTreliethrough2014(osetwithsavingsromr
educingthevalueocertaintaxexpenditures)
316
316
ExtendAMTrelieor2015andbeyond
196
1,234
Extendestateand
gittaxesbeyond2011at2009paramete
rs
88
271
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198 SUMMARY TABLES
TableS10.FundingLevelsorAppropriated(Discretion
ary)ProgramsbyCateg
ory
(Budgetauthorityinbillionsodollars)
2010
Actual
2011
Request
2012
Request
Outy
ears
Totals
2013
2014
2015
2016
20
17
2018
2019
2020
2021
2012-
2016
2012-
2021
DiscretionaryPolicyby
Category:
SecurityAgencies
6828
7140
7194
7413
7614
7782
7956
8113
8276
8443
8611
8786
3,7959
8,0189
Non-SecurityAgenc
ies
4016
4012
3968
3967
3966
3967
4060
4148
4266
4375
4538
4566
1,9927
4,1821
Total,BaseDiscretionar
yFunding..
1,084.4
1,115.2
1,116.11,138.01,158.01,174.91,201.61,2
26.11,254.31,281.81,314.91,335.2
5,788.612,200.9
OtherDiscretionaryFunding(not
includedabove):
OverseasContingen
cy
Operations1
1673
1647
1265
500
500
500
500
500
500
500
500
500
3265
5765
OtherSupplemental/Emergency
Funding
59
*
*
*
GrandTotal,Discretionary
BudgetAuthority
......................
1,257.6
1,279.9
1,242.71,188.01,208.01,224.91,251.61,2
76.11,304.31,331.81,364.91,385.2
6,115.112,777.5
Memorandum,BudgetAut
hority
AdjustedorInfationan
dPopulation:2
Security
8982
9021
8459
7689
7660
7588
7520
7429
7345
7261
7177
7098
3,8916
7,5226
Non-Security
4212
4119
3968
3854
3743
3635
3611
3578
3571
3552
3574
3490
1,8811
3,6576
GrandTotal
1,3194
1,3140
1,2427
1,1544
1,1403
1,1223
1,11311,1007
1,0916
1,0813
1,0751
1,0587
5,7727
11,1802
*$50millionorless
1TheBudgetincludesplaceholderestimateso$50billionperyearorOverseasContingencyOperationsin
2013andbeyondTheseestimatesdonot
refectany
specicpolicydecision
s
2TotalsincludeOverseas
ContingencyOperationsandOtherSupp
lemental/EmergencyFunding
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THE BUDGET FOR FISCAL YEAR 2012 201
TableS12.MarketValuationandBalanceSheetoFannieMaeandFreddieMac
(Inbillionsodollars)
2009
2010
20112
012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Totals
2012
20
16
2012
2021
2009
2021
TransactionsbetweenT
reasuryand
FannieMae/FreddieMac:
SeniorPreerredLiquid
ityPayments
toFannieMae/Fredd
ieMac
96
53
48
29
11
40
40
236
SeniorPreerredDivide
ndPayments
romFannieMae/Fre
ddieMac
4
12
17
21
23
17
14
11
10
9
8
8
8
86
129
163
NetPayments
100
40
30
8
12
17
14
11
10
9
8
8
8
46
89
73
MarketValuationoFan
nieMaeand
FreddieMac:1
MarketValueoNetLiability
18
ValueoPrivateEquity
Shares
3
NetPositionoFannieM
aeand
FreddieMac:
Assets:
USTreasurySecur
ities
12
68
GSEPortolioSecur
itiesand
Loans
1,525
1,007
ConsolidatedTrustSecurities2
4,241
Cash
73
105
Other
146
96
Liabilities:
GSEDebtOutstand
ing
1,607
1,539
ConsolidatedTrustDebt2
3,934
OtherFinancialLia
bilities
155
48
Equity:
TreasurySeniorPre
erredStock3
98
150
PrivateEquity
103
153
NetPosition
5
3
1Marketvaluationnotavailableor2010becauseoNYSEdelisting
2NewFASBaccountingstand
ardsrequiredconsolidationoVariableIn
terestEntitysecuritizationtrustsonJanuary1,2010
3FacevalueoTreasuryseniorpreerredstockequaltooriginalliquidationpreerenceo$2billionplusTreasury
investmentsthroughSeptember30
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202 SUMMARY TABLES
TableS13.EconomicAssumptio
ns
(Calendaryears)
2009
Actual
Pr
ojections
2010
2
011
2012
2013
2014
201
5
2016
2017
2018
2019
2020
2021
GrossDomesticProduct(G
DP):
Nominallevel,billionsodo
llars
14,119
14,651
15,240
16,032
17,006
18,043
19,052
20,037
20,986
21,910
22,86
6
23,860
24,896
NominalGDPpercentchan
ge,year/year
17
38
40
52
61
61
56
52
47
44
44
43
43
RealGDP,percentchange,year/year
26
27
27
36
44
43
38
33
29
26
25
25
25
RealGDP,percentchange,Q4/Q4
02
25
31
40
45
42
36
32
27
25
25
25
25
GDPchainedpriceindex,percentchange,
year/year
09
10
13
15
16
17
17
18
18
18
18
18
18
ConsumerPriceIndex,per
centchange,
year/year1......................................................
03
16
13
18
19
20
20
21
21
21
21
21
21
Unemploymentrate,civilia
n,percent2.......
93
96
93
86
75
66
59
55
53
53
53
53
53
Interestrates,percent:
91-dayTreasurybills3
02
01
02
10
26
37
40
41
41
41
41
41
41
10-yearTreasurynotes
33
32
30
36
42
46
50
52
53
53
53
53
53
Note:Basedoninormation
availableasomid-November2010,priortotheenactmentotheTaxRelie,Unem
ploymentInsuranceReauthorization,an
dJobCreationAct
o2010AmoredetailedtableoeconomicassumptionsisinChapt
er2,EconomicAssumptions,intheAnalyticalPerspectivesvolumeotheBudget,Table21
1SeasonallyadjustedCPI
orallurbanconsumers
2Annualaverage
3Averagerate,secondarymarket(bankdiscountbasis)
-
8/7/2019 2011 Federal Budget
35/36
-
8/7/2019 2011 Federal Budget
36/36