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Tuesday, 20th March 2012
The Long-Term Budgetary Impact of Paths for Federal Revenues and Spending Specified by Chairman Ryan
Source: Congressional Budget Office
From the highlights:
At the request of the Chairman of the House Budget Committee, Congressman Paul Ryan, the Congressional Budget Office (CBO) has calculated the long-term budgetary impact of paths for federal revenues and spending specified by the Chairman and his staff. The calculations presented here represent CBO's assessment of how the specified paths would alter the trajectories of federal debt, revenues, spending, and economic output relative to the trajectories under two scenarios that CBO has analyzed previously. Those calculations do not represent a cost estimate for legislation or an analysis of the effects of any given policies. In particular, CBO has not considered whether the specified paths are consistent with the policy proposals or budget figures released today by Chairman Ryan as part of his proposed budget resolution.
Key findings include:
- Revenues—from 15½ percent of GDP in 2011 to 19 percent in both 2030 and 2050;
- Medicare—from 3¼ percent of GDP in 2011 to 4¼ percent in 2030 and 4¾ percent in 2050;
- Medicaid and the Children's Health Insurance Program (CHIP)—from 2 percent of GDP in 2011 to 1¼ percent in 2030 and 1 percent in 2050;
- Social Security—from 4¾ percent of GDP in 2011 to 6 percent in both 2030 and 2050; and
- Other mandatory spending and all discretionary spending—from 12½ percent of GDP in 2011 to 5¾ percent in 2030 and 3¾ percent in 2050.
+ Direct link to full report (PDF; 686 KB)
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By Heather Negley
An Info Pro, librarian, entrepreneur, author, worldwide connector and book-lover, Heather Negley is recognized for her new ways of thinking about librarianship, research, social media and creativity. Heather is the founder of HelpALibrarian.com and Zing Information Services. She has most recently been an Information Research Specialist with the Congressional Research Service at the Library of Congress where she provided business research for members of Congress and their staffs. Heather also worked as a research reporter for U.S. News and World Report and as a technical advertising producer on the washingtonpost.com. She received her MS in Library and Information Science from Simmons College in Boston, MA.
Heather can be reached at heather.negley@freepint.com
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