USA Federal Government Expenditures and Revenues

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Written By H. Pike Oliver

ECON - 2009-09-13 - USA receipts and outlays  

 

 

 

 

 

 

ECON - 2009-09-13 - USA Deficit % of GDP

 

 

 

 

 

 

 

Scott Grannis, who goes by the pseudonym of Califia Beach Pundit, posted these charts at Seeking Alpha.  Until 2007, he was Chief Economist at Western Asset Management Company, a California-based manager of fixed-income funds for institutional investors.  You may learn more about Mr. Grannis at http://seekingalpha.com/author/calafia-beach-pundit .

These two charts highlight dramatic changes in US Government expenditures and revenues.  The federal deficit in the 12 months ending August 2009 was just over $1.5 trillion, or about 10.5% of gross development product (GDP).  As Mr. Grannis points out, the major causes of deficits in the past have been collapsing revenues.  Since mid 2008, a combination of collapsing revenues and soaring expenditures are driving the Federal deficit to levels not seen since World War II when the deficit reached a historic high of 28.05% of GDP in 1943.

The good news is that, as of September 2009, the  three three month annual rate of spending is down to 11% from a high of 28%  a few months earlier.  However, Federal spending continues to rise and a good portion of the $787 billion stimulus spending package remains to be spent.

H. Pike Oliver

H. Pike Oliver focuses on master-planned communities. He is co-author of Transforming the Irvine Ranch: Joan Irvine, William Pereira, Ray Watson, and THE BIG PLAN, published by Routledge in 2022.

Early in his career, Pike worked for public agencies, including the California Governor's Office of Planning and Research, where he was a principal contributor to An Urban Strategy for California. For the next three decades, he was involved in master-planned development on the Irvine Ranch in Southern California, as well as other properties in western North America and abroad.

Beginning in 2009, Pike taught real estate development at Cornell University and directed the undergraduate program in Urban and Regional Studies. He relocated to Seattle in 2013 and, from 2016 to 2020, served as a lecturer in the Runstad Department of Real Estate at the University of Washington, where he also served as its chair.

Pike graduated from San Francisco State University's urban studies and planning program and received a master's degree in urban planning from UCLA. He is a member of the American Planning Association and the Urban Land Institute and a founder and emeritus member of the California Planning Roundtable.

https://urbanexus.com
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