ABSTRACT

Federal Budget: Overview and Issues for FY2018 and Beyond [June 30, 2017]   [open pdf - 1MB]

"Federal budget decisions express the priorities of Congress and reinforce its influence on federal policies. Making budgetary decisions for the federal government is a complex process and requires the balance of competing goals. The recent economic recession adversely affected federal budget outcomes through revenue declines and spending increases. The federal budget recorded a deficit of 9.8% of gross domestic product (GDP) in FY2009, the largest value since World War II. Subsequent improvement of the economy and implementation of policies designed to lower spending have improved the short-term budget outlook. In FY2016, the federal budget recorded a deficit of 3.2% of GDP, which was still significantly higher than the average deficit since FY1947 (2.0% of GDP)."

Report Number:
CRS Report for Congress, R44881
Author:
Publisher:
Date:
2017-06-30
Copyright:
Public Domain
Retrieved From:
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html
Format:
pdf
Media Type:
application/pdf
URL:
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