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

Born and raised in the San Francisco Bay Area, H. Pike Oliver has worked on real estate development strategies and master-planned communities since the early 1970s, including nearly eight years at the Irvine Company. He resided in the City of Irvine for five years in the 1980s and nine years in the 1990s.

As the founder and sole proprietor of URBANEXUS, Oliver works on advancing equitable and sustainable real estate development and natural lands management. He is also an affiliate instructor at the Runstad Department of Real Estate at the University of Washington.

Early in his career, Oliver 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. Prior to relocating to Seattle in 2013, Oliver taught real estate development at Cornell University and directed the undergraduate program in urban and regional studies. He is a member of the Urban Land Institute, the American Planning Association and a founder and emeritus member of the California Planning Roundtable.

Oliver is a graduate of the urban studies and planning program at San Francisco State University and earned a master’s degree in urban planning at UCLA.

https://urbanexus.com
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