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  • Check Out the 2010 Budget Chart Book--New and Improved!

    The federal budget is on an unsustainable course with red ink as far as the eye can see, so it is especially important for Americans to understand spending, taxes, and debt.

    The Heritage Foundation’s Budget Chart Book is a user-friendly way to learn about the federal budget in pictures.

    As Federal Spending Chart 1 shows, spending has been on the rise—even before the recession and stimulus bill—and will continue to climb steeply under President Obama.

    Washington is planning to pay for this and more spending with tax hikes, but as Federal Revenue Charts 1 and 9 reveal, taxes are already a hefty burden and will reach unprecedented levels in the future.

    Yet spending continues to grow far faster than revenues, creating record deficits. President Obama’s annual deficits will add more to the federal debt than every other president before him combined, causing the debt to skyrocket as Debt and Deficits Chart 3 illustrates. The main reason America finds itself on a precipice of disastrous deficits is from spending on the three major entitlements—Social Security, Medicare, and Medicaid.

    As Entitlements Chart 2 shows, these programs will double in size in a few decades. But Chart 10 explains spending cuts alone can’t pay for entitlements, and the level of taxes, shown in Chart 8, required to pay for the programs would devastate the economy.

    Tough policy choices and strong entitlement reforms are necessary to get the budget back on track. The Budget Chart Book will help you appreciate the size and scope of the decisions policymakers must enact to protect America’s fiscal future.

    Visit today to view the federal budget in pictures, download copies, view interactive charts, and share charts on your blog or social networks.

    Posted in Economics [slideshow_deploy]

    10 Responses to Check Out the 2010 Budget Chart Book--New and Improved!

    1. Carol, Kentucky says:

      Obama's image should grace the front of a "National Credit Card" and never ever be considered for reproduction on any U.S. hard currency or "real money".

    2. Warof2010 SF Bay Area says:

      QUESTIONABLE ACCOUNTING

      Sources: Department of the Treasury; CBO.
      REVENUES THROUGH MARCH
      (Billions of dollars)
      Actual Preliminary Percentage
      Major Source FY 2009 FY 2010 Change
      Individual Income 430 395 -8.0
      Corporate Income 56 53 -5.3
      Social Insurance 430 409 -5.0
      Other 74 96 29.5
      Total 990 953 -3.7

      A $26 billion increase in receipts to the Treasury from
      the Federal Reserve partially offset the decline in other
      receipts. The unusual increase in receipts from the
      central bank resulted from the shift in the Federal
      Reserve’s portfolio to longer-term, riskier, and thus
      higher-yielding investments in support of the housing
      market

      CBO Fiscal Year 2010 Deficit By Month (Billions)
      MONTH…..OUTLAY.REVENUE.DEFICIT..2010 DEFICIT AS OF
      Oct., 2009 – $312.0 – $135.0 – -$176.0…$176.0 … http://bit.ly/VK2JL
      Nov., 2009 – $247.0 – $132.0 – -$120.0…$296.0 … http://bit.ly/5XC1Dq
      Dec., 2009 – $311.0 – $219.0 – -$092.0…$388.0 … http://bit.ly/6O2GmB
      Jan,. 2010 – $248.0 – $205.0 – -$043.0….$431.0 … http://bit.ly/aDwmQA
      Feb., 2010 – $328.0 – $108.0 – -$221.9….$655.0 … http://bit.ly/92nda5
      Mar., 2010 – $215.0 – $152.0 – -$062.0….$714.0 … http://bit.ly/cZkAV0

      March numbers look questionable, on both Outlays, and Revenues
      http://bit.ly/cZkAV0

    3. Bilie says:

      The Heritage Foundation’s Budget Chart Book is a user-friendly way to learn about the federal budget in pictures.

      Pictures are good for the supporters of this government and government majority, themselves, as they can't keep up to comprehend the English language when spoken. Unable to conceive a question and in return give idiotic, round about, indirect, puzzling answers. It is also difficult for them to read charts without pictures.

    4. David D. - USA says:

      Your charts are outstanding and perform a valuable public service. I refer to them often in various online discussion forums and via Wikipedia. I would like to see a more thoughtful analysis of the short-run problem vs. the long run problem. For example, we balanced the budget 10 years ago. What changed?

      1) Bush cut taxes increasing the debt $1.8T per CBO;

      2) We had wars in Iraq and Afghanistan $1.2T thus far;

      3) We have this crisis, which has caused the deficit to widen by about $1 trillion annually in 2008 and 2009 ($2T).

      4) We doubled our baseline defense spending ($1.5T since 2000).

      This leads to a much more robust discussion of policy choices than just bending the cost curves on entitlements.

      You guys should also think about a budget game or simulation like this one, which makes it clear tax increases are a big part of the solution.

      http://marketplace.publicradio.org/features/budge

    5. Chet, PA says:

      So what do you all suggest? do away with our SS., DISABLED AMERCAN VETERAN benefits, and so kick us all to the curb. I guess we lived too long, even what we contributed to this nation. Real smart. Give me a break. I guess you are on the messiah's side, and hope we just go away. No such luck, people, we are just beginning. I guess we have to be ready for a REAL revolution.It makes me sick, how all you, in the media COMPLETELY forget about us seniors and vets.

    6. Carolyn Workman Boul says:

      Why don;t all the conservatives press hard for the fair tax instead of sitting around arguing against the VAT. We need to be proactive !!!!!!!!!

    7. Pingback: Tea Party in Vegas! : Smart Girl Nation

    8. Leon Lundquist, Dura says:

      I like the comparison of the Budgets before the Progressives came along. That's a true comparison. As Democrats are all to willing to point out who was President, they always fail to show it was Republicans in Congress who stopped Clinton from spending the farm. It was Democrats voting for every boondoggle under Bush. It sickens me everytime I hear about "Bush's failed policies" when I know damned well it was all he could to to put the brakes and them.

    9. Pingback: GOP Pledge Goes Silent on Medicare Reform | FrumForum

    10. Bryan@Turbotax says:

      I really can't find the 2011 budget chart book and that is what I want to see. There are going to be cuts to entitlement programs but I don' t know how much. For example I've heard that Job Training will be "zeroed out" but I don't understand what that means, but I'd like to see it in pictures.

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