US Budget Deficit History

The budget deficit is the difference between the money the federal government takes in, called receipts, and what it spends, called outlays  each year. The U.S. government has run a multibillion-dollar deficit almost every year in modern history, spending much more than it takes in. The opposite of a budget deficit, a budget surplus, occurs when the government’s revenue exceeds current expenditures resulting in an excess of money that can be used as needed. In fact, the government has recorded budget  surpluses in only five years since 1969, most of them under Democratic President Bill Clinton.   In all-too-rare times when revenue equals spending, the budget is called â€Å"balanced.†Ã‚   Adds to National Debt Running a budget deficit adds to the national debt and, in the past, has forced Congress to increase the debt ceiling under numerous presidential administrations, both Republican and Democrat, to allow the government to meet its statutory obligations. Although federal deficits have shrunk markedly in recent years, the Congressional Budget Office (CBO) projects that under current law increased spending for Social Security and major health care programs, like Medicare, along with increasing interest costs will cause the national debt to rise steadily over the long term. The larger deficits would cause federal debt to grow faster than the economy. By 2040, the CBO projects, the national debt will be more than 100% of the nation’s Gross Domestic Product (GDP) and continue on an upward path— â€Å"a trend that cannot be sustained indefinitely,† notes the CBO.   Notice particularly the sudden jump in the deficit from $162 billion in 2007, to $1.4 trillion in 2009. This increase was due primarily to spending for special, temporary government programs intended to re-stimulate the economy during the great recession of that period. Budget deficits eventually tapered back down into the billions by 2013. But in August 2019, the CBO predicted the deficit would again surpass $1 trillion in 2020—three years earlier than it had originally expected. Here is the actual and projected budget deficit or surplus by fiscal year, according to CBO data for modern history. 2029 - $1.4 trillion budget deficit (projected)2028 - $1.5 trillion budget deficit (projected)2027 - $1.3 trillion budget deficit (projected)2026 - $1.3 trillion budget deficit (projected)2025 - $1.3 trillion budget deficit (projected)2024 - $1.2 trillion budget deficit (projected)2023 - $1.2 trillion budget deficit (projected)2022 - $1.2 trillion budget deficit (projected)2021 -  $1 trillion budget deficit (projected)2020 - $1  trillion budget deficit (projected)2019 - $960  billion budget deficit (projected)2018 - $779  billion budget deficit2017 - $665  billion budget deficit2016 - $585  billion budget deficit2015 - $439  billion budget deficit2014 - $514 billion budget deficit2013 - $719 billion budget deficit2012 - $1.1 trillion budget deficit2011 - $1.3 trillion budget deficit2010 - $1.3 trillion budget deficit2009 - $1.4 trillion budget deficit2008 - $455 billion budget deficit2007 - $162 billion budget deficit2006 - $248.2 billion budget deficit2005 - $319 billi on budget deficit2004 - $412.7 billion budget deficit2003 - $377.6 billion budget deficit2002 - $157.8 billion budget deficit2001 - $128.2 billion budget surplus2000 - $236.2 billion budget surplus1999 - $125.6 billion budget surplus1998 - $69.3 billion budget surplus1997 - $21.9 billion budget deficit1996 - $107.4 billion budget deficit1995 - $164 billion budget deficit1994 - $203.2 billion budget deficit1993 - $255.1 billion budget deficit1992 - $290.3 billion budget deficit1991 - $269.2 billion budget deficit1990 - $221 billion budget deficit1989 - $152.6 billion budget deficit1988 - $155.2 billion budget deficit1987 - $149.7 billion budget deficit1986 - $221.2 billion budget deficit1985 - $212.3 billion budget deficit1984 - $185.4 billion budget deficit1983 - $207.8 billion budget deficit1982 - $128 billion budget deficit1981 - $79 billion budget deficit1980 - $73.8 billion budget deficit1979 - $40.7 billion budget deficit1978 - $59.2 billion budget deficit1977 - $53.7 billion b udget deficit1976 - $73.7 billion budget deficit1975 - $53.2 billion budget deficit1974 - $6.1 billion budget deficit1973 - $14.9 billion budget deficit1972 - $23.4 billion budget deficit1971 - $23 billion budget deficit1970 - $2.8 billion budget deficit1969 - $3.2 billion budget surplus Deficit as a Percent of GDP To put the federal deficit into proper perspective, it must be viewed in terms of the government’s ability to pay it back. Economists do this by comparing the deficit to Gross Domestic Product (GDP)—the measure of the overall size and strength of the U.S. economy. This â€Å"debt-to-GDP ratio† is a ratio between the cumulative government debt and the GDP over time. A low debt-to-GDP ratio indicates that the nation’s economy is producing and selling enough goods and services to pay back the federal deficit without incurring further debt. In simple terms, a larger economy can sustain a larger budget, and thus a larger budget deficit. According to the Senate Budget Committee, in the fiscal year 2017, the federal deficit was 3.4% of GDP. For the fiscal year 2018, when the U.S. government operated under its largest budget in history, the deficit was estimated to be 4.2% of GDP.  Remember, the lower the debt-to-GDP percentage, the better. Clearly, the more you spend, the harder it is to pay back your debts.

Essay on The Arrogance and Hubris of Oedipus and Creon

In ‘Antigone†, Ismene says, â€Å"To them that walk in power; to exceed is madness, and not wisdom†. Her statement makes it clear, those who â€Å"walk in power†, allow it to corrupt them. Throughout the history of humanity there has been a correlation between those who have excessive power and corruption. Webster’s Dictionary defines corruption as, â€Å"impairment of integrity, virtue, or moral principle†. In the story of Antigone the tragic hero Creon, shows all of the common characteristics of corruption. Before one can analysis the character of Creon they would first have to look at the story of Oedipus the King. In Oedipus the King, a plague has fallen upon the city of Thebes. Forced to take action Oedipus sends Creon to the oracle in†¦show more content†¦In the scene where Oedipus sends for Tiresias, the blind prophet, Tiresias says to him, â€Å"So, you mock my blindness? Let me tell you this. You with your precious eyes, you’re blind to the corruption of your life† (Oedipus Rex Line 468). It is pretty ironic actually, that a blind man can clearly see Oedipus’s corruption when, Oedipus himself is left unaware. In most cases of hubris behavior the individual believes they are so prideful, they actually believe they’re on the same level with God. It is clear that Oedipus has the same perspective of his life, and of his power. Hubris behavior is a tragic flaw, in which the individual is only setting themselves up in order to fall. In one scene Oedipus says, â€Å"You pray to Gods? Let me grant your prayers† (Oedipus Rex, 245). From this quote it is clear Oedipus believes he is on the same level with God. The position and power, as the King has gone to his head. He wants to be worshiped, and in being worshiped he will grant the wishes and prayers of the people. In Oedipus Rex, Oedipus believes Tiresias and Creon are working together to overthrow him. During this time Creon gives a prolonged speech, how he doesn’t want to be the King, but in Antigone, Creon is seen as a unswaying sovereign, unwilling to listen to anyone. Creon is likewise blinded by his own corruption. His excessive pride gets the best of him. Antigone, Haemon, and Tiresias warn CreonShow MoreRelatedThe Tragedy of Sophocles Antigone956 Words   |  4 PagesThe Tragedy of Antigone nbsp;In the story of Antigone, Oedipus has already died, his two sons. Polyneices and Eteocles, left to contend for the throne of Thebes. In their contention for the throne, the two brothers slay one another, leaving Creon once again to be the acting regent of Thebes. With this power, Creon declares that Polyneices must be left to rot on the battlefield, the highest disgrace to any Greek. Antigone, daughter of Oedipus, is left torn between state of family, and in the end,Read MoreThe Theme of Hubris in Ancient Greek Mythology and Literature681 Words   |  3 PagesHubris is a very popular theme in Greek mythology. Hubris was a very important moral concept to the Greeks. Committing hubris was a very serious crime. Hubris is defined as having extreme pride or arrogance. Pride became hubris when it became all consuming or hurtful to others. Other actions that were seen as hubris were acting as if you were equal or more powerful than the gods, or trying to defy them. Hubris was a severe crime that deserved a serious punishment, and it was the downfall of manyRead MoreReview Of Oedipus Rex 1267 Words   |  6 PagesRole of Hubris in Determining Fate Hubris is a Greek term which means excessive pride toward or defiance of the gods. In Oedipus Rex by Sophocles, Oedipus and his biological parents, Laius and Jocasta, were overcome by hubris and attempted to outsmart the gods,using what little knowledge is available to us humans, in an effort to escape their own fate. Along with hubris, Oedipus posses hamartia. Hamartia is a tragic flaw. In Oedipus’s case, his flaw is extreme pride and determination. Oedipus and JocastaRead More Comparing Hubris in Antigone and Oedipus Essay1052 Words   |  5 PagesHubris in Antigone and Oedipus      Ã‚  Ã‚   The idea of hubris is monumental in a plethora of Greek mythological works. In many ways the excessive pride of certain characters fuels their own destruction. This is certainly true with respect to the characters of Pentheus, Antigone, and Oedipus. All three of these characters demonstrate, through their actions, various degrees of arrogance that seem to undercut the traditional role of the Gods, and thus largely contribute to their downfall. However, itRead MoreComparing Creon, Antigone, And Oedipus1318 Words   |  6 Pagesand determination; however, success is discarded by personal gain. Creon, Antigone, and Oedipus have different personalities and roles, but they also share similarities. Oedipus and Creon were two different types of rulers where the transition into power had effected them and had an infringement of prophecies. While Antigone was never in a leadership role all three show acts of pride she has some similarities with Creon and Oedipus in the fight wit hin oneself. The pride allows civil laws to be createdRead MoreOedipus The King Essay1360 Words   |  6 Pagesby the emotional discharging brought about by the suffering of a heroic figure. In Oedipus The King, by Sophocles, the agony of pain attacking the protagonist is a result of his tragic flaw. Sophocles often uses a characters hamartia to alter or influence the future or outcome of the hero, in this case, Oedipus. Oedipus hubris traps him into fulfilling the vision and intensifies his punishment. Oedipus pride is an inherited characteristic. Even before his glory and power as King of ThebesRead MorePride And Stubbornness In Oedipus Rex And Antigone By Sophocles1111 Words   |  5 Pagescharacter flaws. In Sophocles’ Oedipus Rex and Antigone, pride and stubbornness obstruct the senses of Oedipus and Creon in a classic play about seeing the truth. Sophocles delves into the meaning of seeing, in a conventional way, and also in terms of insight. Pride in itself is a good character trait: pride in your country; pride in your heritage; pride in yourself. However, excessive pride, hubris, can lead to stubbornness and often actions in violation to the Gods. Oedipus was royalty by birth, butRead MoreOedipus The King And Oedipus At Colonus1567 Words   |  7 PagesThe role of hubris, a theme commonly present throughout the works of Sophocles and particularly evident in Oedipus the King and Oedipus at Colonus, not only exalts the Greek nationalism present at the date of composition but dictates the course of the story, evolving as its tragic hero works through his fated anguish. Hubris, defined as exaggerated pride or self-confidence, is the earmark character trait of Oedipus and perhaps Creon. However, it is the abandonment of his sanctimonious nature thatRead MoreOedipus Rex Vs. Antigone1417 Words   |  6 PagesDaniel Nierenberg Comparative Essay 11-20-01 Oedipus Rex Antigone It is only natural that an author use similar ves sels of literature, such as figurative language, literary devices, and elements in his/her work. It is even more apparent between works that are connected by character, time, and theme. Sophocles did this when he wrote Oedipus Rex and Antigone. When comparing the two pieces, it becomes evident that very similar vessels connected these very different plays. Sophocles uses aRead MoreThe Characters Of Oedipus Rex By Sophocles973 Words   |  4 PagesMaya Fleischer Ms. Hampson World Lit II CPA 11/7/17 Oedipus Essay Whether positive or negative, individuals have various characteristics that define them. Many people struggle to find a balance between confidence and arrogance. Oedipus, King Laius, and Queen Jocasta fall into this category, as they all possess this character flaw. Throughout Oedipus Rex by Sophocles, these characters make decisions based on what is best for themselves. Sometimes putting yourself before others is necessary for

Being a Man Rhetorical Analysis Free Essays

Being a Man, by Paul Theroux, delineates the negative effects of being a man According to himself. Theroux, in his piece, argues that a man is oppressed by gender expectations, despite living in a society where women are belittled in comparison to men. Theroux attempts to explain the gap between genders which cause bad marriages, social misfits, moral degenerates, sadists, and latent rapists. We will write a custom essay sample on Being a Man: Rhetorical Analysis or any similar topic only for you Order Now Theroux proposes that the idea of manhood in America has caused some men to feel like they dislike being a men, and caused them to reject part of their own identity deep down inside. His overall purpose it to bring awareness to both genders that an oppression is happening to American society due to gender. Theroux tries to create understanding between the two opposing genders and find common ground against the same type of oppression both genders face, â€Å"This version of masculinity is a little like having to wear an ill-fitting coat for one’s entire life (by contrast, I imagine femininity to be an oppressive sense of nakedness)†. Theroux uses parenthetical comments in order to widen the range of theme to his essay. He not only writes about man, but about women to and how they both have become affected by the gender constructs put in place from living in an American society. This allows his target audience (both men and women) to become understanding of his purpose in the essay. Not only are men able to relate, but women to as they are remembered in the fact that they face the same oppression as the one described by Theroux. This rhetorical effect is repeated to reemphasize Theroux’s purpose, â€Å"(The paradox in American letters is that it has always been easier for a woman to write and for a man to be published)† Theroux is able to not only give the message that the gender constructs oppresses only men, but also women, gender in general for that matter. Theroux is able to successfully convey his message (to both genders) that this society is harmful to both genders. Theroux appeals to the audience’s sense of emotion as he applies his arguments soundly to gender oppression, an emotion felt with both members to his target audience. His argument is that gender constructs lead to an oppression that leaves one feeling a displeasure with their own identity. This feeling of self-loathing appeals to people’s sense of emotion. This appeal allows the readers to engage and relate, which captivates them into realizing Theroux’s message. Theroux is effective in his proper use of pathos without having to consult much with the author branches of persuasion, credibility and logic. Personally I am not able to relate much with the American gender construct. Seeing as I was raised in a more Mexican household, I was raised to believe in a stricter gender construct. One that doesn’t apply much to Theroux’s description of the male gender construct setup by American society. Mine has roots in a one that emphasizes absolute respect for women and realizing that her body is nothing less than sacred. You’d think that this would be a better way of thinking, but this kind of thinking still implies that a woman is in need of more respect, which creates a kind of sexual inequality. Although making sense and persuading me in his argument, I was not able to relate to his argument, which was part of his purpose. How to cite Being a Man: Rhetorical Analysis, Papers

APUSH CH. 13 Essay Questions free essay sample

1. The presidential campaign for Andrew Jackson had started early—on February 9, 1825, the day of John Quincy Adams’s controversial election by the House—and it continued noisily for nearly four years. Even before the election of 1828, the temporarily united Republicans of the Era of Good Feelings had split into two camps. One was the National Republicans, with Adams as their standard-bearer. The other was the Democratic-Republicans, with the fiery Jackson heading their ticket. Rallying cries of the Jackson zealots were â€Å"Bargain and Corruption,’’ â€Å"Huzza for Jackson,’’ and â€Å"All Hail Old Hickory.’’ Jacksonites planted hickory poles for their hickory-tough hero; Adamsites adopted the oak as the symbol of their oakenly independent candidate. Jackson’s followers presented their hero as a rough-hewn frontiersman and a stalwart champion of the common man. They denounced Adams as a corrupt aristocrat and argued that the will of the people had been thwarted in 1825 by the backstairs â€Å"bargain’’ of Adams and Clay. We will write a custom essay sample on APUSH CH. 13 Essay Questions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The only way to right the wrong was to seat Jackson, who would then bring about â€Å"reform’’ by sweeping out the â€Å"dishonest’’ Adams gang. Much of this talk was political hyperbole. Jackson was no frontier farmer but a wealthy planter. He was born in a log cabin but now lived in a luxurious manor off the labor of his many slaves. And Adams, though perhaps an aristocrat, was far from corrupt. If anything, his puritanical morals were too elevated for the job. Mudslinging reached new lows in 1828, and the electorate developed a taste for bare-knuckle politics. Adams would not stoop to gutter tactics, but many of his backers were less squeamish. They described Jackson’s mother as a prostitute and his wife as an adulteress; they printed black-bordered handbills shaped like coffins, recounting his numerous duels and brawls and trumpeting his hanging of six mutinous militiamen. Jackson men also hit below the belt. President Adams had purchased, with his own money and for his own use, a billiard table and a set of chessmen. In the mouths of rabid Jacksonites, these items became â€Å"gaming tables’’ and â€Å"gambling furniture’’ for the â€Å"presidential palace.’’ Criticism was also directed at the large sums Adams had received over the years in federal salaries, well earned though they had been. He was even accused of having procured a servant girl for the lust of the Russian tsar—in short, of having served as a pimp. On voting day the electorate split on largely sectional lines. Jackson’s strongest support came from the West and South.