Office of Management and Budget Click to print this document
Charts on the Updated Fiscal Situation
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As a percentage of GDP, the budget deficit is expected to be cut by more than half by 2006.
The economy is the biggest reason for changes in the budget situation since 2001.

The growth rate of non-defense spending has fallen dramatically since the September 11, 2001 terrorist attacks, while defense and homeland security spending recorded sharp increases.

The rise in total federal discretionary spending exceeds that of family income growth.
Higher income earners are paying a larger share of the overall tax burden as a result of tax relief enacted over the past three years.
Shortfalls in Medicare and Social Security, along with debt held by the public, pose genuine fiscal challenges that must be confronted.

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