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Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022
Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022
Our Price: $25.00
By John Skeen (ed)
Year: 2012
Pages: 75
Binding Paperback
ISBN 978-1-4578-3389-2

Product Code: 1457833897

This report shows that the federal deficit for FY 2012 (which ends on September 30) will total $1.1 trillion, marking the fourth year in a row with a deficit of more than $1 trillion, That projection is down slightly from the $1.2 trillion deficit that had been projected in March 2012. At 7.3% of gross domestic product (GDP), this years deficit will be three-quarters as large as the deficit in 2009 when measured relative to the size of the economy. Federal debt held by the public will reach 73% of GDP by the end of this fiscal year -- the highest level since 1950 and about twice the 36% of GDP that it measured at the end of 2007, before the financial crisis and recent recession. The economic recovery is exptected to continue at a modest pace for the remainder of calendar year 2012. Tables and figures. This is a print on demand report.

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